As published in CFA Institute Enterprising Investor on October 26, 2023 In mystery writer Agatha Christie’s novel Hallowe’en Party– the film version by Kenneth Branagh is out in theatres now—a young guest who may have […]
As published in Finance et Investissement on 25 October 2023. In his recent memo for Oaktree Capital Management, Howard Marks opines that to achieve a superior long-term record, an investor should strive to do “a […]
As seen in Financial Post: FP Answers on October 20, 2023 Q4: What are some indicators to consider whether a stock is a value buy or a value trap? What management and business attributes can be used […]
On October 4, 2023 the CFA Society Toronto hosted its 66th Annual Investment Dinner with the keynote from economist and professor Ajay Agrawal, founder of Toronto’s Creative Destruction Lab, which boasts one of the greatest […]
On September 21st the CFA Society of Toronto hosted their annual conference where leading speakers from the financial and academic communities presented on a range of timely topics— even recording a live podcast episode. Here […]
As seen in Financial Post: FP Answers on September 29, 2023 Q: After a couple of lucky small cap stock picks, I’m becoming more interested in adding small cap stocks to my portfolio. Small cap […]
As published in Finance et Investissement on 27 September 2023 Materials, healthcare, and consumer staples remain the bright spots in global M&A activity which is down from $2.56 trillion to $1.84 trillion through the first […]
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 […]
