Jeff Shen: Bad environment for value investors in 2020

Notes from BlackRock’s Jeff Shen presentation from the 2020 SohnX San Francisco Conference. See the full coverage here. Q2 2020 hedge fund letters, conferences and more Jeff Shen Managing Director, Co-CIO of Active Equity and Co-Head of Systematic Active Equity, BlackRock How to think about big data and AI Bad environment for value investor in 2020 Looking at factors Growth and momentum Gap between growth and value Seen this in late 1990s What is core of investment process is the focus Core exposure what matters Chasing Beware of crowding Entering late cycle of market Use data to determine which companies…