Jacobs Asset Management is clawing back losses; goes long LendingClub after shorting the stock

Jacobs Asset Management was up 5.8% net for November, bringing its quarterly return to 9.1% and its year-to-date return to -6.1%. The S&P 500 was up 14% for the year through the end of November, while the KBW Bank Index was down 17.5%. Q3 2020 hedge fund letters, conferences and more In his November letter to investors, which was reviewed by ValueWalk, Sy Jacobs said the fund made 15% gross on its longs and lost 9.3% gross on its shorts during the month. Jacobs Asset Management remained within its +/-20% beta-adjusted target range in all of two days and averaged…