Is Caterpillar (CAT) a Smart Long-Term Buy?

Diamond Hill Capital, an investment management firm, published its “Diamond Hill Large Cap Concentrated Fund” first-quarter 2022 investor letter – a copy of which can be downloaded here. During a volatile quarter, Diamond Hill Large Cap Concentrated Fund performed roughly in line with the Russell 1000 Index. The market environment in Q1 provided a meaningful opportunity for us to initiate positions in high-quality names. From current levels, equity market returns over the next five...