Firefly Value Partners – Benjamin Graham on China

Firefly Value Partners, a value-orientated hedge fund, with David Einhorn backing, and $588 million of assets under management gained 11.9% for the second quarter of 2015, taking the fund’s year to date performance, net of expenses to 13%. Since inception at the beginning of July 2007, the fund has produced a net return of 72.3%, according to a letter to investors seen by ValueWalk. Firefly: Returns Firefly Value Partners, which recently went activist on ASB Bancorp Inc. after acquiring just under 10% of the bank’s stock, doesn’t give much away in its second quarter letter to partners. During the quarter,…