Concentrated GARP
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.
Performance Chart
All performance information is of the Portfolio Manager account, net of management fees.
All performance information is of the Portfolio Manager account net of management fees, and not of any investing client accounts.
Actual client returns will differ based on client-specified security exclusions, client cash flow behavior (investments and divestments), and trading restrictions placed on client accounts by brokerage.
The management fees applicable to Interactive Advisors proprietary portfolios are actually charged to
the Interactive Advisors accounts managing those portfolios, whereas the management fees applicable to
Portfolio Manager portfolios are applied retroactively as simulated fees to the Portfolio Manager account returns (as
Interactive Advisors does not manage or control these accounts) for purposes of this net-of-fees performance presentation only.
Performance, composition and volatility could vary significantly from that of the benchmark(s), which are
provided for illustrative purposes only.
This information was calculated up to Sep 16, 2024.
Metrics
Performance
The performance table shows the returns over various time periods, including the time periods that are clickable on the chart, calendar years and also the Since inception (annualized) performance which is the year over year growth rate of portfolio asset value.
| Last 30 days | -0.9% |
| Last 90 days | 5.5% |
| Last 365 days | -13.8% |
| Last 5 years | 3.3% |
| Last 10 years | 4.6% |
| Since inception (Jan 22, 2010) | 17.0% |
| Since inception (annualized) | 1.1% |
| 2024 (YTD) | -6.8% |
| 2023 | -7.3% |
| 2022 | -19.6% |
| 2021 | 29.1% |
| 2020 | 14.0% |
| 2019 | 20.0% |
| 2018 | -12.2% |
| 2017 | 9.5% |
| 2016 | 4.7% |
| 2015 | -18.1% |
| 2014 | -12.0% |
| 2013 | 39.4% |
| 2012 | 40.2% |
| 2011 | -34.1% |
Risk metrics (last 365 days)
The risk metrics table is only present for portfolios with more than a 365 day track record which is needed to meaningfully compute the summary risk metrics.
You can learn more here.
| Volatility
The standard deviation of portfolio returns; a measure of risk. |
25.2% |
| Sharpe ratio
A measure of risk-adjusted portfolio return. |
-0.74 |
| Sortino ratio
A measure of portfolio return adjusted for down-side volatility. |
-0.98 |
| Maximum drawdown
Maximum value lost from peak to trough over the last year. |
-24.2% |
| Value-at-risk (95%, 1 week)
Estimates the potential loss of a portfolio with a specified confidence level and time horizon. |
-5.8% |
Estimate your costs
All costs shown are estimated and consist of the annual management fee applicable to the specific portfolio displayed. We compute the annual management fee applicable to your investments daily and charge it to you monthly in arrears or in conjunction with a withdrawal.
On a daily basis, the applicable fee associated with each portfolio you invest in will be applied to the end-of-day gross market value of your investment in that portfolio and the resulting amount will be divided by 365. At the end of each month, you will be charged a fee made up of the sum of all daily fees calculated during that month for each portfolio investment. The more assets you invest in a given portfolio with us, the higher the amount of the annual fee charged to you.
No trading commissions apply to trading in any of the portfolios due to the IBKR-LITE commissions structure we have selected for all of your clients. For portfolios including ETFs, additional expense ratios will need to be paid to the ETF issuer and they are not included in this calculation.
Portfolio information
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.
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.
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.
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.
Portfolio updates
Manager
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.
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Disclosures
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.
This portfolio was launched on Interactive Advisors on January 22, 2010, when clients were able to start investing in it. All performance information on this page is actual performance of the Portfolio Manager’s account and presented “net of fees”. The actual performance chart is provided for informational purposes only, and should not be used as the basis for making an investment decision. Actual client returns will differ. All Portfolio Manager information including personal data, profiles, and strategies has been provided by the Portfolio Manager. Interactive Advisors makes no representation or warranty of its accuracy, completeness or relevance and it does not represent the opinions of Interactive Advisors.
All performance information on this page is based on the performance of the Portfolio Manager’s account, using the manager’s own funds. Performance of the Portfolio Manager's account is calculated by Interactive Advisors on a daily time-weighted basis, including cash, dividends and earnings distributions and reflects the deduction of broker commissions (when commissions were charged). Manager returns include trades and positions that fail Interactive Advisors' trading rules, as a result, actual client returns will differ. Interactive Advisors’ advisory fees are simulated and applied retroactively to present the portfolio return “net-of-fees”.
In addition to Interactive Advisors’ management fees, clients will also be charged management fees and other expenses (custodian fees, brokerage commissions, and legal and accounting fees) by ETF issuers if the portfolio contains ETFs.