This Hedge Fund Did Better With Shorts In Q3

Blue Grotto Capital posted a negative return for the third quarter as the negative return from the long book more than offset the gain in the short book. The fund’s long book returned -3.45%, while its short book contributed 2.95%. Blue Grotto had $276 million in its master fund and $442 million in total assets under management at the end of the third quarter. Q3 2021 hedge fund letters, conferences and more The long/ short equity fund looks for “unrecognized extraordinary situations in the market” to generate alpha on the long side and “companies with unsustainable business models where we…