The investment world changed dramatically in March. Stable, well run businesses seemingly became impaired in the blink of an eye. When the economy shut down, we immediately devoted a lot of time evaluating balance sheet […]
There is little doubt that COVID19 will be considered one of the biggest catastrophic events of this century. I can’t help but reflect on what good can come of this in terms of how we […]
When the facts change, we change our minds The nature of most human activity is that the facts involved tend to change, but often not as abruptly, and rarely on such a wide scale as […]
How the portfolio is positioned to capture potential gains We believe the world will be a very different place on the other side of the global health crisis and associated financial crisis. We know that […]
Assessing the trinity of risk is a key pillar of Pender’s investment strategy at all times, but during a financial crisis, when the risks increase, it becomes more crucial than ever to double and triple […]
Investors had largely ignored COVID-19 for over a month, but now emotions have started to get the better of cooler heads, and markets have reacted. Extreme fear has taken over. Unfortunately, emotional trading can quickly […]
The Pender Equity Investment Process Pender’s goal is to protect and grow wealth for our investors over time. To achieve this, we seek to understand the quality of a business or security; obtain more value […]
Day 1 – Margin of Safety Benjamin Graham, believed by many to be the father of value investing, wrote in his book The Intelligent Investor, “Confronted with [the] challenge to distill the secret of sound […]
This article was originally published on moiglobal.com on November 30, 2019. “American investors are missing out on China. It just looks too hard, sitting in Omaha… but it’s where they should be looking.” – Charlie […]
Business Best Practices Gina Jones – Deep Survival: Who Lives, Who Dies, and Why, Laurence Gonzales Felix Narhi – A Dozen Lessons for Entrepreneurs, Tren Griffin Kenndal McArdle – Trillion Dollar Coach: The Leadership Playbook […]
We have talked before, at a very high level, about what quantum computing is, how it works and why we might need it. In short, quantum computers are going to succeed where even the most […]
Extract from Deloitte Insights: Technology, Media, and Telecommunications Predictions 2019 and reproduced with the permission of Duncan Stewart, Director of Research and Erica Pretorius, Partner, Risk Advisory, Deloitte Canada. Classical computer: The traditional form of […]
Members of the Pender team attended CFA Society Vancouver’s event: Challenges, Opportunities and Insights on Public and Private Equity, on October 3, 2019, moderated by our own Amar Pandya, CFA. Amar was joined by panelists […]
Dave Barr and I attended the MOI Global Latticework New York 2019 event on September 12, 2019. MOI Global, which was founded by John Mihaljevic the author of The Manual of Ideas (see our book […]
Our investment in Transat A.T. represents a successful catalyst-driven close the discount (CTD) investment. As Canada’s third largest airline and one of the largest tourism companies in the world, Transat has had a long and […]
