Tag: innovation and disruption

2016 Q3 - Investment Letter (Malthus)
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2030

2016 Q3 - Investment Letter (Malthus)

During the third quarter, despite a uniquely dysfunctional election season, the S&P 500 generated a solid 3.85% gain.[1] While the randomness of short-term market movements clearly could have yielded a different result, we are nevertheless amused by the apt metaphor that this turn of events offers up. In the face of considerable uncertainty and numerous …

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2011 Q2 - Investment Letter (Cisco)
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1328

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 …

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