Black Bear Value Partners 1Q21 Commentary
Black Bear Value Partners commentary for the first quarter ended March 31, 2021. Q1 2021 hedge fund letters, conferences and more "In times of joy, all of us wished we possessed a tail we could wag." - W.H. Auden To My Partners and Friends: Black Bear Value Fund, LP (the “Fund”) returned +13.6%, net, in March and is +25.2% YTD.The S&P 500 returned +4.4% in March and is +6.2% YTD.The HFRI index returned +2.0% in March and is +10.1% YTD.We do not seek to mimic the returns of the S&P 500 and there will be variances in our performance.Amidst the turbulence of the financial crisis in 2008 I met my ...
Black Bear Value Partners LP 2020 Letter: Long Texas Pacific Land Trust
Black Bear Value Partners LP annual letter to investors for the year ended December 31, 2020. Q4 2020 hedge fund letters, conferences and more “Nothing valuable can be lost by taking time.” – Abraham Lincoln To My Partners and Friends: Black Bear Value Fund, LP (the “Fund”) returned -6.5%, net, in 2020.The S&P 500 returned +18.4% in 2020 while the HFRI index returned +14.4%We do not seek to mimic the returns of the S&P 500 and there will be variances in our performance.Thank you to all who have continued to put themselves in harm’s way to assist humankind. I also extend sympathies to anyone wh...