Active Share
Active share is a relatively new calculation1 and provides a measurement of whether or not a portfolio “hugs” an index or not, which is an indication of how actively a portfolio is being managed. An […]
February 27, 2015
Forward Thinking. Finding Value.
Best Ideas
We often call the holdings in our funds our “best ideas”. This may seem obvious – why invest in anything else? The distinction is this. While we have lots of potential investment ideas, Pender manages […]
February 20, 2015
Too Hard Pile
The “too hard pile” is a phrase we first heard coined by Charlie Munger, Berkshire Hathaway, “At Berkshire we have three buckets: yes, no and too hard.” In order to find potential investments for our […]
February 20, 2015
Wayne Gretzky Would Have Been a Great Investor As Well
“Skate to where the puck is going, not to where it has been” – W. Gretzky Despite the Edmonton Oilers of the 1980’s being a dynastic team, loaded with superb talent, we could not help […]
January 6, 2015
Unwrapping Value – Liberty Interactive (Special Situation)
We routinely mention how “special situations” can offer compelling return characteristics. Special situations are investments that are based on the outcome of an event such a spin-out, reorganization, merger etc. Although each situation is quite […]
December 9, 2014
Pender Value Investing Conference 2014 – Keynote Takeaways
How we can improve our decisions Largely in his own hand, here are the takeaways from keynote presenter Shane Parrish, founder of Farnam Street, “mastering the best of what other people have already figured out”. […]
November 27, 2014
Investing like Ted Williams
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
Pender Book Review: Influence by Robert Cialdini
We first read Cialdini’s psychology classic “Influence” more than a decade ago after hearing that it was one of Charlie Munger’s favourite all time books – we have been hooked on its core findings ever […]
November 6, 2014
A Timely Reminder of the Mr. Market Allegory
During the stock market’s inevitable periodic declines, we believe it is helpful to reread Buffett’s “Mr. Market” allegory because it can help reduce decisions that might be regrettable later (see extract and link below).
October 14, 2014
The Long and Short of It: Key Takeaways from the Value Investing Congress 2014
David Barr and Felix Narhi had the opportunity to attend the recent Value Investing Congress meeting in New York. CNBC has dubbed the event “The Super Bowl of Value Investors”, albeit we believe most value […]
September 22, 2014
World Cup Fever: What the “Beautiful Game” of Soccer Can Teach Us about Investing
Don’t just do something, stand there. Like many investors, we are always looking for insights into how we might improve our outcomes over time. By taking a multi-disciplinary approach and “thinking outside the box”, we […]
July 7, 2014
Pender Investment Ideas Lunch 2014 – Notes
Download PDF Pender has just held its annual Investment Ideas Lunch. We invited three of the companies held in our funds to present to an audience of advisors and investment professionals. The companies represented a […]
June 17, 2014
For a winning portfolio, don’t just think growth vs. value
What is the Soundest Investment Approach? Felix Narhi writes about growth vs. value for The Globe & Mail Putting the Growth vs. Value Investing Debate in Perspective I often get asked the question, “Are you […]
May 23, 2014
Pender attends Berkshire Hathaway Annual Meeting 2014 – Key Notes and Thoughts
David Barr, Felix Narhi and eight Pender colleagues had the opportunity to attend the recent Berkshire Hathaway Annual Meeting in Omaha. A chance to hear first-hand from two of our value investing icons, Warren Buffett […]
May 8, 2014
Opportunistic
Being opportunistic in the world of finance is generally associated with an aggressive strategy to make money by taking advantage of something that is undervalued, vulnerable or depressed. Property, securities or companies are targeted, bought, […]
March 18, 2014
