Stericycle (SRCL) Declined on Macro Pressure

Ariel Investments, an investment management company, released its “Ariel Appreciation Fund” first-quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the Ariel Appreciation fund gained +1.72% ahead of the Russell Midcap Value Index’s +1.32% return while trailing the Russell Midcap Index’s +4.06% return. The fund’s annual average returns for 1-, 5-, and 10-year periods for the period ended March 31, 2023, were -6.66%, +5.32%, and +7.94%,...