Concentrated GARP

Managed by Y H & C Investments

1.5% Last 30 days -1.7% Last 90 days 12.5% Last 365 days 1.03 Sharpe Ratio -6.4% Max Drawdown

Concentrated GARP

Managed by Y H & C Investments

1.5% Last 30 days -1.7% Last 90 days 12.5% Last 365 days 1.03 Sharpe Ratio -6.37 Max Drawdown
Risk score
Strategy Stocks
AUM fee 1.5%
Requirements
• Investment minimum: $10,000
or Sign up to invest
GARP stands for Growth at a Reasonable Price. My growth-oriented investment style focuses on fundamental analysis including cash ratios, liquidity ratios and margins. I will also invest in anticipation of potential mergers, spin-offs and perceived arbitrage opportunities.

Research

My screening approach analyzes cash, cash relative to debt, assets relative to liabilities, liquidity and cash flow. Typical sources of data and company information include Barron’s, Yahoo! Finance, MSN Screener, local news, Seeking Alpha, Investopedia, BusinessWeek and Bloomberg.

Approach

My main focus is on buying growth-oriented businesses led by what I believe are strong management teams. I attempt to buy growth companies, as well as ones with cash-rich balance sheets. The companies I own also tend to have strategic competitive advantages and high barriers to entry within large target markets. At times I may target potential spin-offs and arbitrage opportunities as well.

Allocation discipline

Positions usually range from 5% to 20% of the portfolio. I typically will seek to sell positions for which I have a larger allocation.

Sell discipline

I make decisions to close positions based on the performance, or lack thereof, of the company. If an abnormally large gain is achieved in a short period, the position may be sold. If a stock is grossly overvalued, it will also be sold.

Exceptions

My strategy may change if I believe that stocks are highly overvalued, or due to merger activity, regulatory issues, world events or potential arbitrage opportunities.

All performance information on this page is based on the performance of the Portfolio Manager’s account. Client performance may differ. This information was calculated on December 14, 2017.

Daily returns
Performance
S&P 500
Manager (net of fees )
Last 30 days 1.5% 2.8%
Last 90 days -1.7% 6.1%
Last 365 Days 12.5% 17.7%
Since inception (Annualized) 1.0% 11.3%
2017 (YTD) 10.9% 18.5%
2016 4.7% 9.5%
2015 -18.1% -0.7%
2014 -12.0% 11.4%
2013 39.4% 29.6%
2012 40.2% 13.4%
2011 -34.1% -0.0%
Risk metrics (last 365 days)
S&P 500
Manager (net of fees )
Volatility 10.8% 6.7%
Sharpe Ratio 1.03 2.45
Sortino Ratio 1.75 3.27
Maximum Drawdown -6.4% -2.8%
Value-at-risk (95%, 1 week) -2.5% -1.5%
Additional metrics (last 365 days)
vs. S&P 500
Information Ratio -0.6%
Alpha -2.35
Beta 0.89
R-Squared 0.3%
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About Y H & C Investments

Y H & C Investments is a registered investment adviser based in Nevada. Yale Bock founded the firm after 15 years of experience as an individual investor. Yale also manages the secured lending operations of a family-owned business.

Investment process

At Y H & C, we believe in extensively researching individual investment opportunities before allocating capital. Our research-driven approach is based on a bottom-up fundamental analysis of every potential investment. Our process incorporates quantitative measures of market value and operating performance, as well as qualitative factors such as competitive positioning, strength of management and corporate governance.

Important Information

  1. Past performance is no guarantee of future results, and all investments, including those in this portfolio, involve the risk of loss, including loss of principal and a reduction in earnings.  
  2. All performance information on this page is based on the performance of the Portfolio Manager’s account, using the manager’s own funds. Portfolio Manager’s pre-IB Asset Management performance information may include performance of non-IB Asset Management client accounts. Performance of the Portfolio Manager's account is calculated by IB Asset Management on a daily time-weighted basis, including cash, dividends and earnings distributions and reflects the deduction of broker commissions. Manager returns include trades and positions that fail IB Asset Management's trading rules, as a result, actual client returns will differ. IB Asset Management advisory fees are simulated and applied retroactively to present the portfolio return "net-of-fees".
  3. None of the performance information displayed on this page is based on the actual performance of any IB Asset Management client account investing in this portfolio. The performance in an IB Asset Management client account invested in this portfolio may differ (i.e., be lower or higher) from the Portfolio Manager’s account performance based on any trading restrictions imposed by the client (resulting in different account holdings), time of initial investment, amount of investment, frequency and size of cash flows in and out of the client account, applicable brokerage commissions, and different corporate actions. Clients investing in this portfolio may view the actual performance of their investment in this portfolio by logging into their IB Asset Management account and reviewing their customized dashboard.
  4. All graph data is as of the end of day for the referenced period, unless otherwise specified. The investment minimum is the minimum investment required to follow a particular portfolio. The minimum amount is determined by IB Asset Management, based on the characteristics of the underlying portfolio. It should not be considered as specific investment advice for your investment situation.
  5. The performance charts are provided for informational purposes only, and should not be used as the basis for making an investment decision. We rely on mathematical formulas, computer programs, and pricing information from third-party vendors to provide these returns. Neither IB Asset Management nor any of its data or content providers shall be liable for any errors in this information or any actions taken by you in reliance upon this information.
  6. Benchmark returns displayed have been calculated by IB Asset Management using daily benchmark prices and do not include dividend income. More information here. For certain portfolios IB Asset Management uses an index as a benchmark, while for others it uses an investable exchange traded fund (ETF) as a benchmark. Index returns do not reflect the deduction of any management fees, transaction costs or expenses. Individuals cannot invest directly in an index. Investable ETF returns reflect the deduction of (i.e., are net of) management fees, transaction costs and expenses.
  7. All Portfolio Manager information including personal data, profiles, strategies, monthly investment reports, and historical results outside of IB Asset Management has been provided by the Portfolio Manager. IB Asset Management makes no representation or warranty of its accuracy, completeness or relevance and it does not represent the opinions of IB Asset Management. Transaction history of Portfolio Managers is available upon request. Portfolio classifications are provided by IB Asset Management, and are intended to serve as a general guide.
  8. Not all transactions listed will appear in accounts due to IB Asset Management's trading rules and individual client constraints. Eligibility of these securities is monitored periodically, and may change over time. Actual client investment holdings may vary.
  9. This portfolio was launched on IB Asset Management on January 20, 2010.