Two Micro-Cap Value Plays

Excerpt from the Stanphyl Capital letter to investors for the month of Feb 2017 discussing their long positions in two micro-cap plays. Stanphyl was profiled in the second edition of HVS and has had some of the best picks among all the funds we have profiled with 200%+ returns on some pitches. Please login to view the rest of this article – Not subscribed? Get our adfree exclusive content for Continue Reading →

Hidden Value Stocks Q4 2017 Small-Cap Roundup

As part of our goal to bring subscribers the best small-cap ideas from hedge funds around the world, we’ve compiled this list of small-cap value picks profiled in some of our favorite funds’ year-end letters. We’ve chosen these ideas in particular because they stand out for their simplicity and value. This is by no means a comprehensive list of value ideas, it’s just a collection of some of the best, Continue Reading →

Avenir Capital Q4 Letter

16 February, 2018 Dear Partner: The Avenir Global Fund – Class I class of units (the “Class I Fund”) returned 6.7%, net of fees, during the December 2017 quarter. For the full calendar year 2017, the Class I Fund returned 5.7%. Currency moves cost the Class I Fund approximately 4.5% for the full calendar year1 . The recently established retail class of the Avenir Global Fund (“Avenir Global Fund”) returned Continue Reading →

Moreus Q4 letter to investors

Moreus Q4 letter to investors 2017 seemed to be one of those periods for the Fund, as the “FAANG stocks1” and many other tech stocks zoomed to new heights, in our view without much (if any) regard to business fundamentals, intrinsic values, and most importantly, risk. Against the backdrop of an over 8½- year bull market that has seen the S&P 500 generate a total return of over 330% since Continue Reading →