At Pender we practice active management and are fundamental value investors who base our investment process on taking advantage of market inefficiencies, such as when a company becomes significantly mispriced in comparison to what the […]
Credit markets are in a state of transition, with passive instruments such as ETF’s having become major parts of the investing landscape in recent years. Within this context, an active manager faces some challenges but […]
Incoming Pender Corporate Bond Fund manager, Geoff Castle, brings a strong credit discipline to the Pender investment team. Here, we focus on sector exposures and the areas of opportunity he sees in the market.
Incoming Pender Corporate Bond Fund manager, Geoff Castle, brings a strong credit discipline to the Pender investment team. Here, we focus on how he is addressing the balance between credit quality, default risk and realizing […]
Compounding is one of the bedrock concepts of investing – “the ability to generate earnings from previous earnings”1. For us, “Compounders” are those companies that can internally compound their intrinsic value at a mid-teens annualized […]
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 […]
Yield measures a bond’s rate of return. It is calculated differently than a regular stock return because it takes into account the interest and coupon rates, as well as the time to maturity. Related Content:[catlist […]
Intrinsic value is the actual value of a company as opposed to its current market price. If an investor can conservatively estimate an actual intrinsic value range for a company, then he or she can […]
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