2017 – YCG Investments

December 31, 2017in Investment Letters0by YCG Team

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2017 Q4 - Investment Letter (Priceline)

The S&P 500 rose 6.64% in the quarter ended December 31, 2017, and 21.83% percent for the full year.[1] As we have often mentioned, we are always on the hunt for great businesses with unassailable competitive advantages and enduring pricing power. We believe these businesses are both rare and, as a result of behavioral and …

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September 30, 2017in Investment Letters0by YCG Team

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2017 Q3 - Investment Letter (CBRE)

The S&P 500 continued its upward march during the third quarter, posting a 4.48% gain.[1] In our last letter, we concluded by outlining the core tenets of our investment strategy. In preparing to write this one, we noticed a slight but important adjustment to what we wrote, so we’ll repeat the relevant section below: “We …

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June 30, 2017in Investment Letters0by YCG Team

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2017 Q2 - Investment Letter (Alphabet)

The S&P 500 posted a 3.09% gain during an uneventful second quarter.[1] Despite this relative tranquility, we were able to acquire a new position in Alphabet (GOOG) at what we believe were attractive prices. Because the world changes so much over time, and at seemingly accelerating rates, successful investors must wholeheartedly embrace continuous learning. We …

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2017 Q1 - Investment Letter (Estee Lauder)

March 31, 2017in Investment Letters0by YCG Team

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2017 Q1 - Investment Letter (Estee Lauder)

During the first quarter, the S&P 500 index posted a 6.07% return, adding three more months and substantial additional gains to what is already one of the longest and most profitable bull markets in history.[1],[2] Since bottoming roughly eight years ago at 666, the S&P 500 has, almost without interruption, climbed to 2,363, a stellar …

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