Some of our weaker performing stocks during the year were: Telephone and Data Systems (TDS, Financial) (1.0%), which provides comprehensive telecommunications services and products to consumers and businesses across the United States through a portfolio of companies. TDS reported solid revenue but worse than expected earnings per share near the end of the year, driving its stock price down.
From Mario Gabelli (Trades, Portfolio)'s Gabelli Asset Fund 2019 annual shareholder letter.
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