Arquitos Capital Management 1Q20 Commentary “Survival mode is the right mode to be in right now”

Arquitos Capital Management commentary for the first quarter ended March 31, 2020. Q1 2020 hedge fund letters, conferences and more I approach investing like I’m buying the business outright and retaining management. This mindset ties valuation to understanding and forces me to think through qualitative factors and potential threats to long-term earnings power. – Allan Mecham Dear Partner: Arquitos returned -19.0% net of fees in the first quarter of 2020. Please see page six for more detailed performance information. Now is a time to be extremely selective and thoughtful about what to invest in. It is a time for caution….