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How One RIA Stumbled Into a Huge Win in GameStop
GameStop, the distressed retailer turned social media darling, isn’t a typical stock holding at Runnymede Capital Management, a family-run wealth management firm based in Mendham, N.J. Early this year, the firm, which manages about $92 million in assets and looks for stocks that have reasonable valuations and consistent earnings growth, took a small position in the ailing video game retailer. GameStop then became a surprise winner for their clients—almost by accident.
“Sometimes it’s better to be lucky than good,” jokes Andy…