Lithia Motors (LAD) Results Were Better Than Feared

Appalaches Capital, an investment management firm, released its third-quarter 2024, investor letter. A copy of the letter can be downloaded here. Appalaches Core LO ended the quarter with a 3.0% gain after all fees and expenses compared to the S&P 500’s return of 5.9%, the equal-weighted S&P 500’s return of 9.6%, and the SOFR Index return of 1.4%. The fund has achieved a net return of 7.1%, year-to-date. During the quarter, the firm made several changes to the portfolio, with about two-thirds now allocated to risk assets, aligning better with a normalized allocation, and planning to...