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Jennifer Wallace: It Ain’t What You Don’t Know That Gets You Into Trouble

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Jacob Wolinsky
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Jennifer Wallace's notes from the 2019 Value Invest New York Conference. Jennifer is a founding partner of Summit Street Capital Management, LLC and serves as the firm’s Chief Investment Officer and Portfolio Manager.

Q3 2019 hedge fund letters, conferences and more

orphan drug
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Jennifer Wallace: It Ain't What You Don't Know That Gets You Into Trouble

United Therapeutics Corporation (NASDAQ:UTHR)

  • 21% cash on cash yield
  • stock down 50%
  • 50% margin
  • 100% upside

Pulmonary Arterial Hypertension PAH

  • pure play orphan drug
  • blood vessels in lung
  • 100k die b/c of no lung transplant
  • 50% of rev cliff in 2018
  • false pattern recognition because cliff is being delayed
  • thesis around how generic threat is overplayed
  • $13 net...

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Jacob Wolinsky is the ex-Founder of Valuewalk.com (founded 2011, sold 2023). He is founder of HedgeFundAlpha (formerly ValueWalk Premium), a hedge fund focused intelligence service for institutional investors. Prior to founding Valuewalk, Jacob covered small caps, worked recruiting members for a large hedge fund community and freelance financial journalism. Jacob lives with his wife and five kids in Passaic Park NJ. - Email: jacob(at)hedgefundalpha.com. For confidential inquires email me for my Signal ID. Other methods of secure communication are also available. FD: Most of my portfolio is in I mostly purchase broad-based ETFs, mutual funds or individual bonds - I do this for performance reasons and to avoid any potential conflict of interest or occasional receipt of insider information. I will disclose if I have a stake in any company, but in general I have few stocks and I avoid any trading especially around topics I am covering.