Livermore Ends 2019 Up 138%
Event-driven activist Livermore Partners finished 2019 up a spectacular 138%, the firm's best year since inception. According to the firm's quarterly investor letter, Livermore realised more than 100% gains from its short position in Pacific Gas and Electric, its long position in Jadestone Energy and its long position in Detour Gold. Livermore bought Vista Oil and Gas in Q3 which gained the firm more than 50%.
"The returns generated come from deep methodical research, excellent timing, and of course, a little bit of luck. I never said we are the smartest or largest, just striving to be the best..our value-based approach is proving itself" wrote Livermore Managing Partner David Neusauser in the letter.
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