February 2020 Equity Market Update

CIO Austin Hawley, CFA, discusses how market volatility caused by COVID-19 is impacting our equity portfolios and the benefits of short-term volatility. The views expressed are those of Diamond Hill as of February 2020 and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of results, or investment advice. As of January 31, 2020 Diamond Hill owned Booking Holdings, Inc. (equity) and United Airlines Holdings, Inc. (equity). As of November 30, 2019 Diamond Hill owned United Airlines Holdings, Inc. (debt). This material is for informational purposes and is prepared by Diamond Hill Capital Management. The opinions expressed are as of the date of publication and are subject to change. These opinions are not intended to be a forecast of future events, a guarantee of future results, or investment advice. Reliance upon this information is at the sole discretion of the listener. Investing involves risk including the possible loss of principal.