Jacques Berghmans' letter - 1st quarter 2020

As I write this newsletter, the coronavirus outbreak has unfortunately become a major health crisis affecting most of the world’s population, directly and indirectly. The measures taken by various governments across the world to counter the pandemic have put several billions of people under lockdown, have halted major sectors of the economy and will result in a significant economic hit. Short-term economic numbers will be extremely weak but as we have seen time and time again, the situation will eventually improve. As an investor myself, I understand that the current situation is unsettling and use a few mental guidelines to try to get through this crisis.

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1Q20 Manager's Letter JB.pdf

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