ENVA - Blue Tower Asset Management Q3 2018 Commentary: Enova
Blue Tower Asset Management commentary for the third quarter ended September 30, 2018; discussing their investment thesis in Enova.
The Global Value strategy composite returned -5.20% gross (-5.49% net) for Q3. This relative underperformance is not a result of any deviation from the consistent application of our investment process. Rather it is the result of faithfully executing on our strategy to take concentrated positions in investments with compelling valuations globally. In this letter, we will review our value investment philosophy, contributors to our performance this year, and our investment thesis in Enova.
While