- McLain Capital is a privately owned alternative investment management firm based in Dallas, Texas. McLain manages data-driven, value oriented long/short equity strategies on behalf of its clients.
- For the third quarter of 2020, McLain Capital Fund I, LP returned -6.3%, net, bringing our YTD performance to -17.5%.
- For Q3, decent positive attribution from our longs of +5.9% was significantly outweighed by negative attribution from our shorts, -11.9%, despite running a hyper-diversified short book of ~90 ~60.
- The general underperformance of value through Q3 was again a headwind, but, as in Q2, the much larger detractor was the continued melt-up of speculative securities driven by enormous amounts of flow from retail investors, which is now at levels unseen since the dot-com bubble.
For further details see:
McLain Capital Q3 2020 Investor Letter