Hayden Capital 2Q19 Commentary: “Good” Vs “Bad” Business Model

Hayden Capital commentary for the second quarter ended June 30, 2019. Q2 hedge fund letters, conference, scoops etc Dear Partners and Friends, Our portfolio continued its recovery in the second quarter, and at a stronger pace than the broader market indices. During the second quarter, our portfolio appreciated +11.98% (net of fees), compared with the S&P 500 at +4.30% and the MSCI World index at +3.45%. This brings our year-to-date performance to +28.48% vs. +18.54% for the S&P 500 and +16.33% for the MSCI World. The performance was led by our newest positions in Sea Ltd and Carvana, which have…