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2011 Q1 - Investment Letter (Debt, ABT, NWSA, SYY)
The S&P 500 continued its upward momentum with a 6.9% increase in the first quarter of 2011. Stocks in general have had the best first quarter in 13 years. Comparatively, YCG returns averaged 4.95% across composites in the first quarter. However, it has not been an easy ride. The market stumbled at times due to …