RE: Livermore Partners14 Jan 2019 07:54
LivermorePartners
Livermore Partners Report Q2 2018
Aug. 28, 2018 8:00 AM
Summary
Includes an update in our positions in Jadestone and Burberry.
Livermore Strategic Opportunities LP ended with a gain of 15.44% through Q2 2018.
On the short side, we began to see some profits in Q2 and began to fish for real value in the resource pond as gold entered a new bear market.
2018 performance continues to be strong for Livermore Partners. Even in the face of a turbulent global backdrop, we continue to benefit from a strong US market and Brent crude pricing. Which given lack of re-investment is finally in position to hold a strong price band ($70-80/bbl) with spike potential to $150/bbl, especially given geopolitics and sanctions globally taking center stage.
The interesting dynamic today is that even with all the political discord, US equities outperformed and remained strong in the face of a powerful US dollar and weak emerging markets. This bifurcation allowed unique opportunities to flourish if one was positioned well. Thankfully, we were.
Therefore, I am pleased to share that as of June 30, Livermore Strategic Opportunities LP ended with a gain of 15.44% through Q2 2018.
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Much strength came from core holdings in both long and short positions. Notably, our core long positions in APAC Brent oil-producer Jadestone Energy (OTC:JADSF), British-luxury brand, Burberry (OTCPK:BURBY), and the newly restructured Bank of California.
Additionally, in the quarter, we began to fish for real value in the resource pond as gold entered a new bear market. Especially, today as the US dollar seems "peaky" and a possible inflation threat finally coming to light, we now have secured growing stakes in beaten down Mexican producer, Torex Gold (OTCPK:TORXF), exciting London-listed resource play, Solgold (OTCPK:SLGGF), as well as Toronto's Detour Gold (OTCPK:DRGDF), where billionaire and legendary investor John Paulson is now an activist.
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