credit ratings – YCG Investments

2020 Q2 Investment Letter - (Compass Principles)

June 30, 2020in Investment Letters0by YCG Team

2193

2020 Q2 Investment Letter - (Compass Principles)

The S&P 500 Index returned 20.54% and the S&P Global Broad Market Index returned 19.95% in the quarter ended June 30, 2020.1 In many of our past letters, we’ve picked a specific company and written a deep dive on it, with the hope that you’ll better understand one of the businesses that you own as …

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June 30, 2018in Investment Letters0by YCG Team

1691

2018 Q2 - Investment Letter (Process)

The S&P 500 Index returned 3.43% in the quarter ended June 30, 2018.[1] We believe an investor who aspires to achieve attractive risk-adjusted returns must first identify at least one exploitable and persistent investment mispricing. In our case, as we’ve discussed in past letters, we believe we’ve identified two: 1) a great business mispricing that …

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March 31, 2018in Investment Letters0by YCG Team

2622

2018 Q1 - Investment Letter (Moody's)

The S&P 500 returned -0.76% in the quarter ended March 31, 2018.[1] In our last letter, we discussed our belief that the best investments benefit from two sources of mispricing: 1) a great business mispricing that we believe results from investors generally undervaluing the rare businesses with both enduring pricing power and long-term volume growth …

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2016 Q1 - Investment Letter (Wells Fargo)

March 31, 2016in Investment Letters0by YCG Team

2203

2016 Q1 - Investment Letter (Wells Fargo)

After a more than 10% decline over the first twelve trading days of the year, the S&P 500 rallied all the way back to end the first quarter with a 1.35% gain.[1] As we highlighted in our last letter, the 10% decline was the second worst start in the history of the index. At the …

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