2020 Outlook: Stressing the Long – Term approach
Submitted by Sullivan Wood Capital Management, L.L.C. on July 28th, 2020Overall, I would characterize our overall performance last year as below par. The companies we own are seemingly safe at the time of purchase, but due to major disruptions and panic in the last few months of the year, they got a lot cheaper. Clearly, looking back I could have been more cautious, and I failed to recognize the magnitude of the crisis that was unfolding.