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Massif Capital 4Q19 Commentary: Resource Conversion – Alternative Perspectives Wealth Creation and the Capital Cycle

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Jacob Wolinsky
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Massif Capital commentary for the fourth quarter ended December 31, 2019.

Q4 2019 hedge fund letters, conferences and more

Dear Friends and Investors,

The core portfolio of Massif Capital was up 3.7% during the fourth quarter of 2019, bringing the year-to-date performance to -3.9%. A detailed report on individual account performance will be provided to investors in the coming days.

Resource Conversion - Alternative Perspectives Wealth Creation and the Capital Cycle

Our regular focus on the capital cycle has much to do with the industries we focus on. Businesses within basic materials, energy, and heavy industry are generally characterized by strong economies of scale and capital intensity. Firms typically have either high fixed costs or significant upfront capex that need to be...

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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