Q4 2020 Report.pdf

2020 Q4.pdf
Preview of Q4 2020 Report
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📊 Size: 236 KB
📄 Pages: 5 pages
⬇️ Downloads: 90

Summary

Blue Tower Asset Management's strategy gained 21.95% net of fees in Q4 2020, resulting in a 10.99% full-year return. The biggest contributor was Joban Kaihatsu due to a takeover bid. The COVID-19 pandemic and US election uncertainty led to a market rally in Q4. The CARES Act stimulus program increased household incomes, while opportunities to spend money were reduced, leading to a high savings rate. Asset flows into money market funds and stock bubbles, particularly in unprofitable technology and electric vehicle companies, were notable. In contrast, international equities, such as some Japanese and European stocks, remain undervalued. EZCORP, a subprime credit company, performed poorly due to declining demand and low adoption of its digital app, but now trades at a depressed valuation.

Description

Blue Tower Asset Management's strategy gained 21.95% net of fees in Q4 2020, resulting in a 10.99% full-year return.

Technical Information

  • File Format: PDF
  • File Size: 236 KB
  • Pages: 5
  • Language: EN
  • Total Downloads: 90
  • Last Updated: 1 month ago

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