Winning bets on homeland security stocks helped the Core Fund score an exceptional gain of 27.6% in November, providing a striking example of the often hoped for, but also often missed, year-end save by a market rally.
The San Francisco fund, which focuses on micro-cap stocks, had entered November with a year-to-date loss, after falling 5.1% in October. November's move lifted the fund out of negative territory to put returns up to an impressive 23.1% on the year.
November's returns were driven primarily on the long side, where the fund had a 60% net exposure. While longer-term holdings in homeland security