MASI - Blue Tower Asset Management Q4 2023 Commentary

2024-01-24 06:35:00 ET

Summary

• Blue Tower Asset Management is an investment advisory which provides separately managed accounts. Blue Tower's approach to value investing combines proprietary screening algorithms which identify potentially attractive investments with fundamental research that seeks to determine if the stock is truly a bargain and not a value trap.
• The Blue Tower Global Value composite returned 10.83% net in Q4 2023 (11.11% gross) bringing our full year 2023 return to 32.44% net (33.81% gross).
• In this letter, I commemorate the completion of the first ten years of the Global Value strategy with a retrospective on our first decade's five investments that most contributed to our investment performance.

The Blue Tower Global Value composite returned 10.83% net in Q4 2023 (11.11% gross) bringing our full year 2023 return to 32.44% net (33.81% gross). Sanctions have frozen our Russian investments, leading to high levels of dispersion among accounts in the composite, so please rely on your account statements for your individual investment performance....

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