June 18, 2020

The Timeless Principles of Investing in a Changing World

Featuring: David Barr, Felix Narhi

David Barr and Felix Narhi discuss how they apply the Pender investment process through periods of uncertainty.

Subtitle: Sticking to your knitting and focusing on the businesses you know.

In this episode David Barr, President and Portfolio Manager, is joined by Felix Narhi, Chief Investment Officer and Portfolio Manager to discuss how they apply the Pender investment process through periods of uncertainty. They cover predictive attributes, successful business models during the global pandemic, and some of the benefits of investing in the small and micro-cap space.

Key Takeaways

[01:49]	The conversation begins with a discussion around the interesting opportunities in the technology space that have come out of “the massive market correction in March”.
[04:38]	David shares the importance of “not deviating from your investment process” during periods of uncertainty.
[06:00]	Felix introduces Pender holding Stitch Fix, a position that was recently initiated.
[07:55]	David discusses some of the key ways Stitch Fix is differentiated from their competition and how they are able to take advantage of this period.
[13:36]	Felix and David discuss survivorship bias and the benefit of having founder-led companies in the current investing environment.
[20:35]	David shares one of the reasons he enjoys investing in the small and micro-cap space.
[24:07]	The conversation closes with book recommendations from Felix and David.