“It’s déjà vu all over again.” – Yogi Berra We often own stakes in companies which can be characterized as boring, operating in “meat and potatoes” industries that have faced cyclical headwinds. Some major current […]
Index funds, or funds that passively track indexes, have a role to play in investor portfolios. Jack Bogle created the Vanguard 500 Index Fund in 1976, the first index fund. He had the most noble […]
The PenderFund Investment Team shares what is on their reading list this holiday season. David Barr A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market […]
At Pender, we are often asked about our cash levels because it fluctuates over time depending on the individual Fund mandate and the opportunity set. One of the common misconceptions regarding some Pender mandates is […]
There is no longer an “easy button” in fixed income whereby investors can earn relatively high real returns from invested instruments guaranteed by the government. While most investors still construct their portfolio with a mix […]
Building a business is hard. This is the reality for many CEOs including Shoe Dog author Phil Knight. Just look at some of the most successful companies today. Facebook was confronted with questions on its […]
Medicure Inc (MPH), a company that we have held across multiple funds for over two years, is a specialty pharma company focused on cardiovascular solutions based in Winnipeg, MB. Medicure is “our kind of bio-tech […]
I read The Manual of Ideas a few years ago, but gave myself a refresher over the summer. I am currently at Latticework, an event put on by The Manual of Ideas community, where leading […]
A first for Pender as a company held in both our Equity and Fixed Income portfolios gets taken out. Demand-side energy management firm, EnerNOC, has announced it is being acquired by Enel Group, a European […]
Summertime is a slower time of year for travel for us. Fewer companies to see, conferences to attend or clients to meet with. This gives us the opportunity to use this time to dive deeper […]
Whole Foods (NASDAQ: WFM) is the second announced takeout of a top five Pender Value Fund holding last quarter (following the Panera deal – see our blog post). WFM is also a holding in the […]
As someone who loves to read, choosing the next book is always exciting. Since there are more books on my reading list than I’ll ever be able to read, I use two criteria to guide […]
We’ve been asked a lot over the past week about whether or not we have exposure to certain headline housing stocks in our equity portfolios. Fortunately, the answer is no. We think this is a […]
As we reflect on the announcement that Panera Bread, a holding in several of Pender’s funds, is about to go private thanks to a takeover by European holding company JAB, we are left feeling somewhat […]
I recently read The Undoing Project: A Friendship That Changed Our Minds by Michael Lewis. When Lewis presented at the CFA Society Vancouver 50th Anniversary Dinner in November 2015, he mentioned that he was working […]
