Black Bear Value Partners, an investment management firm, published its fourth quarter 2023 investor letter, a copy of which can be downloaded here. Black Bear Value Fund returned -1.1% in December and +17.7% in 2023 and the S&P 500 returned +4.5% in December and +26.3% in 2023. HFRI Value Index returned +4.4% and +13.8%, respectively for […]