Moon Capital continues to find value in Egypt

Moon Capital Management was down 1.2% net for the fourth quarter, bringing its full-year return to 5.1% for 2019. In his fourth-quarter letter to investors, which was reviewed by ValueWalk, John Moon said some of the trends that tend to be negative for their strategy continued during the quarter. Detracting trends included outperformance of large-cap stocks over small caps and outperformance of stocks with more beta rather than stocks with lower valuations. Q4 2019 hedge fund letters, conferences and more He talked about some of the fund’s biggest long positions in his second-quarter letter in mid-August. Between that letter and…