Stephen J. Errico's Locust Wood Capital Advisors had a mixed start to the year. According to the firm's first quarter letter, a copy of which has been reviewed by ValueWalk, Locust Wood declined 1% net in the quarter.
While this may seem like a lackluster performance, it should be noted that the broad market, as measured by the S&P 500, also declined 1% in the period despite significant volatility.
According to the letter, Locust Wood benefitted from what Errico believes...
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