As seen in the Globe & Mail on September 20, 2023 (for subscribers only) What is ‘scuttlebutt’? And, how can using scuttlebutt generate alpha—that coveted, yet often illusive investment metric that measures excess return relative […]
As seen in Financial Post on September 17, 2023 Climate resilience has emerged as a key theme shaping government policies and transforming markets. A recent report by BlackRock Investment Institute estimates extreme weather — the fires, hurricanes, […]
As seen in Financial Post on Aug 31, 2023 “Buy not on optimism, but on arithmetic.” So said Benjamin Graham, father of value investing and author of The Intelligent Investor, a perennial bestseller. Since 2018, […]
As published in Finance et Investissement on 28 August 2023 It’s been a dry season for capital markets as mergers activity remains in a state of suspended animation with deal value at US$873.4 billion in […]
As featured in FundLibrary on Aug 10,2023 Some people spend their summers jumping into the water off a dock on a quiet lakefront or hiking mountain trails with a picnic lunch. We, however, find the […]
As published in Finance et Investissement on 7 August 2023 Mergers and acquisitions can be an effective use of capital for businesses to stay viable by growing their capabilities, reducing costs, potentially eliminating competitors, and ultimately […]
As published in CFA Institute Enterprising Investor on August 3, 2023 Markets were generally buoyant in June as participants focused on positives while events with negative implications for asset prices, like higher risk-free rates, were […]
Pender attended the recent World ESG Communications Summit in Toronto. Among the many insightful presentations, Connor Chell, Head of ESG Practice Group at MLT Aikins LLP, spoke about changes to the ESG regulatory environment in […]
As seen in The Globe and Mail, July 19, 2023 (for subscribers only) A company’s balance sheet tells investors if the firm could be vulnerable to a change in business conditions or be able to […]
As seen in CFA Institute: Enterprising Investor, July 14, 2023 Hook ups just aren’t what they used to be. The worldwide value of merger and acquisitions dropped to around US$1.22 trillion at the end of […]
PenderFund’s Summer Hot List 2023 When former U.S. Treasury Secretary Lawrence Summers recently said, “it’s very, very hot”, was he referring to the US economy or Pender’s Summer Hot List? Maybe both! Our ever-popular bi-annual […]
As featured in the CFA Institute: Enterprising Investor, June 28, 2023 Each cycle in distressed debt investing is different. During the global financial crisis (GFC), many otherwise viable companies faced a liquidity crisis. Prior to […]
As featured in the Financial Post: FP Answers, June 23, 2023 Q: I’m a keen DIY investor and enjoy investing for the long term as well as trading a small basket of stocks. I’ve been […]
As featured in CFA Institute: Enterprising Investor, June 21, 2023 What is the current outlook for investors in today’s credit market? Interest rates had been in secular decline since the 1980s. In the aftermath of […]
As seen in Benefits and Pensions Monitor June 20, 2023 Businesses large and small must now try to cope with higher interest rates. We’ve seen the effects in the U.S. with bank failures at Silicon […]
As published in Conseiller on 19 June 2023. While global M&A has slowed down considerably since last year due to investor jitters amid a steep rise in borrowing costs and market uncertainty, if you know where […]
“Investing is not the study of finance, it’s the study of how people behave with money.” How many finance books are optioned to become feature films? Not many, but The Psychology of Money by Morgan […]
The advantages of an all-weather investment strategy Looks can be deceiving. On a recent holiday, to a place where the sun was blazing, the sky was pure azure, and the sea shone like polished glass, […]
I’ve lost count of how many job aspirants have claimed to be “lifelong learners.” Hat tip to them. I’ve yet to encounter anyone boasting of their unlearning skills, but I’d be keen to meet such […]
As published in Conseiller on 29 May 2023. The torrid pace of global M&A appears to be playing catch up, especially in the mega cap universe where we have seen elevated regulatory scrutiny on high profile deals […]
As published in Conseiller on 16 May 2023 and FI: Finance et Investissement on 3 May 2023 The punchbowl has been taken away. The era of “free money” being thrown with abandon by investors at […]
