Articles by David Barr

The Manager’s Commentary – October 2020

Written by David Barr

Fellow Unitholders, Stock markets dipped again in October after a broad sell off in September. The S&P 500 (CAD) index lost 2.6% and the S&P/TSX Composite index was down 3.1%. While markets were in negative […]

November 10, 2020

The Manager’s Commentary – September 2020

Written by David Barr

Fellow Unitholders, Markets decided to take a pause from their dogged return from March lows this month. In September, the S&P 500 (CAD) was down 1.8% and the S&P/TSX Composite was down 2.1%. Our funds […]

October 19, 2020

The Manager’s Commentary – August 2020

Written by David Barr

Fellow Unitholders, August marked the fifth straight monthly gain for major markets. The S&P 500 (CAD) was up 4.4% and the S&P/TSX Composite was up 2.3%, while the Pender Value Fund generated a total return […]

September 17, 2020

Manager’s Commentary – Q2 2019 – David Barr

Written by David Barr

Fellow Unitholders, We are happy to report that both the Pender Value and Pender Small Cap Opportunities Funds had positive quarters. The Pender Value Fund was up 5.5%[1] and the Pender Small Cap Opportunities Fund […]

July 16, 2019

How Do Catalysts Form?

Written by David Barr

We have often talked about catalyst-driven investing, specifically in our blog post on Catalysts: Investing in “take-outs”. Another of the catalysts that can motivate a company to sell itself is prolonged stock price underperformance despite […]

February 21, 2019

Manager’s Quarterly Commentary – David Barr – Q1 2018

Written by David Barr

Increased Volatility and Continued Underperformance by Canadian Indices The Moment We’ve All Been Waiting For That was an interesting quarter. One thing didn’t change: Canada is out of favour. Canadian indices continued their lacklustre performance. […]

April 30, 2018

Investing like Ted Williams

Written by David Barr

Ted Williams played major league baseball for the Boston Red Sox for 19 years between 1939 and 1960 and went on to manage the Washington Senators and the Texas Rangers. Nicknamed “The Greatest Hitter Who […]

November 20, 2014

Investing Like Ted Williams

Written by David Barr

Williams came up with three rules to hit by that I think translate very well to value investing. There are two things I look forward to every year end. Spending time over the holidays with […]

January 14, 2014