The US equity market may be the largest, most liquid and most recognized in the world, but its returns lag those of other international markets. What’s more, US equities... Read More

Black Bear Value Fund portfolio update for the fourth quarter and the full year ended December 31, 2018. Dear Partners and Friends, The Fund's year-end letter will be sent later this... Read More

DG Value Partners was up for October, with Class A gaining 1.44% and Class B up 1.5%. The S&P 500 was down 2.66% for the month. On a year-to-date... Read More

Warren Buffett's ability to value a business is one of his greatest qualities. Indeed, it is this quality (among others) that has helped him establish the reputation he has... Read More

Dov Gertzulin's DG Value Partner's flagship fund returned -6.42% net for the month of September, and its year-to-date results to -27.81% net according to a copy of the hedge... Read More

A report out Monday by Macquarie may be comforting to jittery stock market investors blasted by rough market volatility again. The report pointed to a measured pace of economic... Read More

In his 2010 annual letter, Seth Klarman wrote about the 20 lessons he took away from the 2008 financial crisis. Ten years on, these lessons are just as valuable today... Read More

Lee Cooperman has some fans these days... All the negative press surrounding risk parity this year has started to concern asset managers who currently use risk parity strategies to boost... Read More

Zions Bancorporation is down 3% in trading today as WTI crude falls to just $48 per barrel (Brent crude is at $51), and there are serious concerns that it... Read More

The combined debt held by U.S. public pension plans will top $1.7 trillion next year, according to a just-released report from Moody’s Investors Services. This “pension tsunami” has already forced towns like... Read More