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Blue Tower Asset Management 4Q19 Commentary: Career Risk in Institutions and the Principal Agent Problem

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Jacob Wolinsky
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Blue Tower Asset Management commentary for the fourth quarter ended December 31, 2019.

Q4 2019 hedge fund letters, conferences and more

Blue Tower Asset Management 4Q19

The fourth quarter of 2019 has been the strongest single quarter performance and strongest annual performance for the Global Value composite since the beginning of our strategy with a quarter return of 16.70% net (17.04% gross) and a 2019 return of 36.81% net (38.40% gross). We have had a great year despite a headwind of continued relative underperformance of value strategies, small cap strategies, as well as underperformance of international equities relative to the US. Our quarterly performance was led by gains in Cornerstone Building...

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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 worked as an equity analyst covering small caps, a micro-cap analyst, doing member development a large hedge fund community and freelance financial writing. Jacob lives with his wife and five kids in Passaic NJ. - Email: jacob(at)hedgefundalpha.com. For confidential inquires email me for my Signal id. Other methods of secure communication are also available. FD: I almost exclusively avoid the purchase of equities to avoid conflict of interest and any insider information. I only purchase broad-based ETFs and mutual funds. I will disclsoe if I have a stake in any company, but in general avoid