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Livermore Up 18% in Q3

Event driven activist Livermore Partners gained more than 18% in Q3 and is up more than 33% in 2018, according to the firm’s quarterly investor letter.

Managing Director David Neuhauser said in the letter that “Much strength came from core holdings in both long and short positions. Notably, our core long positions in APAC Brent oil-producer Jadestone Energy, Mexican gold producer, Torex Gold, as well as London listed, Solgold. These names really outperformed in the Quarter.”

Livermore’s long Jadestone Energy position and short calls against Alibaba, Weibo and Chinese ETF FXI all contributed to the firm’s positive performance in Q3.

Neuhauser continues to be a Tesla bear. “…you have a CEO that continues to hurt his own image and the image of the brand by using social media as his outlet. This has caused the company harm by an SEC investigation and fraud charges coming against Musk..his behaviour seems to be on a destructive path. We continue to be bearish” he says in the letter.