CRAWA - Greystone Capital Q3 2020 Letter To Clients

• Greystone Capital is a long only, equity focused Registered Investment Adviser located in West Chester, PA. The firm utilizes a fundamental research process focused on identifying mispriced small and microcap securities in order to build a concentrated portfolio of high conviction investments.
• During the third quarter of 2020, returns for separate accounts managed by Greystone Capital ranged from +10.4% to +22.4%. The median account return was +15.8%.
• While it’s important to pay attention to the macro environment, the companies in your portfolios should benefit in all market environments, regardless of who wins the election, or how fast GDP grows in Q4.
• The current environment seems to be one of continued low interest rates and massive government spending which should bode well for stocks moving forward.

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