Broyhill Asset Management - Q1 2020 Letter

Summary

• Broyhill Asset Management is a boutique investment firm, established as a family office and guided by a value orientation.
• When volatility spikes, months of research and due diligence can quickly translate into purchases over the course of a few weeks that might normally occur over the span of a of a few years. This was the situation in the first quarter.
• We monetized the majority of our portfolio hedges during the quarter.
• Record numbers of corporate credit ratings have now been downgraded or put on negative watch, but we have yet to see the spike in defaults that will ultimately accompany rising unemployment, major market dislocations,and recessions around the world.

Comments

[Archman Investor]

Broyhill still making furniture?

Wait.....not the same Broyhill?

[Moats and Income]

Glad they aren’t managing my money...