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    April 23, 2020
    Curtis Jensen comments on “Guarded Optimism, Sobering Reality and Adapting” in the current COVID environment

    Curtis Jensen released an update letter where he comments on “Guarded Optimism, Sobering Reality and Adapting” in the COVID-19 environment.

    Importantly, he notes that:

    “The Covid-19 pandemic has brought us to the intersection of economics and epidemiology. These perspectives suggest a bumpy and long road ahead, one that runs through a potentially deep recessionary environment.”

    He also remarks on the opportunity:

    “Stock market values have reset, in many cases significantly (share prices down 40% – 50%), affording an unusual opportunity to consider businesses defined by greater resilience that heretofore were unattractive from a valuation perspective.”

    The full letter, below, makes for a timely update and pertinent read. Please let us know if you have questions or if you want to learn more about the opportunities we are seeing at ir@robotti.com or rubinstein@robotti.com.

    Stay healthy!

    OPF – Apr 2020 Letter