2011 Q2 - Investment Letter (Cisco)

2011 Q2 - Investment Letter (Cisco)

Over the past quarter, the S&P 500 was essentially flat with a 0.1% gain, whereas YCG returns averaged 2.12% across composites. We are also pleased to report that this quarter marks 3 years since the inception of our concentrated composite with option enhancement. Over that time frame, the composite returned 12.82% annually versus 3.33% for …