Y H & C Investments
President & Owner
Yale Bock is the owner and operator of Y H & C Investments, a registered investment adviser (Nevada and FINRA licensed) located in Las Vegas, NV. All operations are directed by Yale and he is responsible for the investment research, portfolio management, asset allocation, trading decisions, trade execution, risk management, and any client communication.
Y H & C Investments is a boutique registered investment advisor based in Las Vegas, NV. The company offers asset management services which include strategic asset allocation, tactical asset allocation, investment research, portfolio management, portfolio measurement and assessment, diversification and hedging, and financial documentation and customer support. The mission of the company is to help people reach their financial goals and objectives.
Yale has been investing his own capital for 20 years and client money since 2004. Yale earned a B.A. in economics from UC-Irvine in 1989, and an M.B.A from UC-Irvine in 1991. He earned the right to use the Chartered Financial Analyst designation in 2007.
BA, Economics, University of California, Irvine - The Paul Merage School of Business
Assets Under Management:
Investing money in capital markets involves risk and could result in losing money. Past performance is no guarantee of future results. Future results are likely to be different from past performance. All equity portfolios involve risk and may lose money. One should research any investment and make sure it is suitable with your objectives, risk tolerance, risk profile, liquidity considerations, tax situation, and anything else pertinent to your financial situation. Also, attaining or holding the CFA credential in no way suggests performance will be superior than a market index or market return.
Y H & C Investments Video
You are asking a good question as it is important to understand how your existing portfolio compares to other alternatives. The most comprehensive approach is to compare your portfolio return to index averages like the S&P 500 (SPX), Dow Jones Industrial Average (DJIA), and Nasdaq (IXIC) return for the same period of time. Usually, 1, 3, and 5 year time frames make sense, and for longer term you can go with 10 years. Clearly, you can also look at shorter time frames as well, 1 month 3 month, 6 months, etc. If you want more detailed comparisons, look at the kinds of assets you own- meaning are they larger companies, mid sized companies, or smaller companies- you can then compare them to those same size indexes- large cap, mid cap, and small cap. As an example,, a common small cap index is called the Russell 2000. You can compare a fund you own of small cap companies to the Russell 2000 over the same time frame to see how what you own compares to the typical index. You can do the same thing for funds of different sizes. Also, if you have international funds, you would compare them to an index like the MSCI Index, a common international index to get an understanding of the performance there too. I hope this helps answer your question.
Yale Bock, CFA
Y H & C Investments
You are asking a good question and thank you for it as it is applicable for many people. You can use your cellphone or computer to help track your mutual fund investments and compare them to a benchmark. The key is to find out the symbols of the mutual funds and enter them into something like Yahoo Finance, Investopedia, or Seeking Alpha- you can use an app to do so. After you enter in your mutual funds, put in the symbols of the major indexes like the Dow Jones Industrial Average (DJIA), S&P 500, and Nasdaq. If you have mutual funds in different asset classes like midcaps or small caps, pick a comparable index like the Wilshire or Russell to compare similar investment sizes and types. If you really want to get more detail, enter those numbers and the total amount invested into a spreadsheet and update them quarterly in terms of how much you started with, and how they ended up and look at the total return percentage, including dividends. You can then compare that percentage of the overall portfolio to the major indexes or applicable comparable indexes. If you use an online broker, they can help you with this is as well. I hope this helped answer your question.
You are asking a very good question aand thank you for it. The reason why portfolio managers and individual investors actively manage their portfolios is for higher returns. An ETF diversifies your holdings, but does not necessarily eliminate individual stock risk as many indexes and ETF's linked to those indexes have high concentration in a few individual holdings. In any portfolio, the higher the weight of a holding, the more the risk when there is a problem with that specific investment. Conversely, if you are overweighted a specific holding, and it outperforms an index, in some cases substantially, the affect on the overall performance of the portfolio will be dramatic. If you have fifteen positions in a portfolio, and 5 perform consistent with the indexes, five slightly below, and 4 slightly outperform, but one doubles, and that one is equally weighted with everything else, the one position very well can cause outperformance. Your question also speaks to your risk tolerance and having the ability to want to take risk, or not. If you have the time to research companies and believe in their business model, management, and competitive advantages, then allocating more capital can make sense, if you are willing to tolerate the higher risk. I hope this helped answer your question.
Yale Bock, CFA
Y H & C Investments
You are asking a good question as it is important to evaluate how effective your investing is so you can either build on the succcess, or improve its performance. First, you look at how you invested in terms of what you own. If you own mutual funds, what kind of funds are they- large cap, mid cap, or small cap? If they are individual stocks, what industry are they in and what is the size of the company, called market capitalization? If you have a total return for your investments, take that total return and compare it to the market return, usually the S&P 500 return will work, or you can use the Dow Jones Industrial Average return, or the Nasdaq return (IXIC). If you want more detailed comparisons, you can compare specific holdings or funds to a similar index over the same period. Say for example, you own a mutual fund of large cap holdings- compare that to the S&P 500 over the last year, three years, and five years. If you own a tech stock or fund, compare it to the Nasdaq. If you want to do it by size and you have a smaller cap fund or company, compare it to the Russell 2000 index. If you have an international fund or holding, compare it to the MSCI Index. If you are beating the index for the year or three years or 5 years, great job. If about the same, and the cost is higher, you can replace what you own with the index and potentially pay less in fees. I hope this helps answer your question.
Yale Bock, CFA
Y H& C Investments
You are asking a distinct question which is quite interesting. Private equity involves a private equity fund taking control of a company, usually using a high percentage of debt (70-100%) in the purchase price combined with 20% equity. They change the management of the company, incentivze the new management with a piece of the ownership, and have them completely change the way the business operates, with the goal to make it more efficient, more profitable, and grow the business. By doing so, in 5-10 years at the end of the fund, they will sell the company for a higher price, or take it public at a greater multiple than the price they paid. So typically, private equity buys into large existing businesses with operations which have been established over a number of years. Venture capital is typically a situation where a fund will invest capital in an early stage technology company, sometimes it will be nearly at the start of a company (called round a), and in other cases it will be later as the technology company has been building a business. The venture capital company will get board representation and try to help grow the company into a much larger enterprise in 5 years, think going from 1 million or 5 million in revenue to 50-500 million in revenue. Venture capital firms are trying to get an exit where they make 5-100 times their money in the 5-10 year lifetime of their fund. Usually, on ten investments, they want one of the ten to make 10-100 times their money and that pays for the other 9 investments where they don't. Another difference between private equity and venture capital is the amount of money invested in each specific company. In some cases, private equity can pay hundreds of millions or even billions. Venture capital, especially early stage, will invest 500K up to maybe 10 million, so the degree of capital used is far different. I hope this helps answer your question.