Blue Tower Q4 2017 Investor Letter

The Global Value strategy composite returned 10.42% gross (10.11% net) for Q4 2017 and 25.28% gross (23.93% net) for the year. Our previous letter outlined our reasons for increasing our portfolio holdings of Japanese equities. This move continued in Q4 and into the first few weeks of this year. Currently, we have positions in 8 Japanese equities, all of which are “small caps” and 5 of which lack sell-side analyst Continue Reading →