Bernard Horn Comments on Trevi Finanziaria

Guru stock highlight

Oct 22, 2020

Trevi (MIL:TFI, Financial), the Italian engineering and foundation driller, underwent a complete financial and operational restructuring. The stock jumped more than 150% in the second quarter as one of the Fund's top performers, but relinquished some of this gain in the third quarter. Trevi may face some near-term headwinds, as governmental infrastructure spending is postponed in deference to immediate COVID-19 related needs of citizens. However, the company reaffirmed guidance, pointing to strength of its order book.

From Bernard Horn (Trades, Portfolio)'s Polaris Global Value Fund third-quarter 2020 letter.

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