Vilas Fund 2Q19 Commentary: Most Difficult Stock Picking Environment Since Dotcom Bubble

Vilas Fund commentary for the second quarter ended June 30, 2019. Q2 hedge fund letters, conference, scoops etc Dear Vilas Fund Partner, The Vilas Fund, LP rose 7.8% in the second quarter of 2019, bringing the year to date return to 44.8%. The Fund has compounded at 11.5%, net of fees, since it began nearly nine years ago (August 9, 2010). This has turned a $1 investment at inception to $2.64. Relative to other actively managed value-focused hedge funds, the fund ranks as one of the best in the industry as the average fund in our category has compounded at…