The 12 Days of Investing

- DAY 10 -

Catalyst Investing

Discounts on mispriced securities don’t close themselves.

As a Fund Manager with many small cap holdings, liquidity is never far from our minds. We are focused on ensuring we preserve and grow the capital investors have entrusted to us and an acquisition is both a liquidity event and a potential value creation event.

So how do we pin point a take-out candidate from the wide field of publicly traded entrepreneurial prospects? “The truth is we rarely buy expecting a take-out”, says David Barr, President and Portfolio Manager. “However it’s a by-product of our process, our private equity approach to public markets.”

More than stock picking, we fundamentally analyse every aspect of a potential holding, which includes the customer base, the competition, the industry as a whole and more.

Our experience has revealed some of things that we believe correlate to identifying potential take-out candidates. Read more...

Blog Post

Searching the Skies for a Catalyst

"While we don’t consider ourselves activist investors, we have no qualms about advocating on behalf of our unitholders to obtain fair value for the companies we own."

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Podcast

Avoiding Value Traps by Looking for Catalysts

"Catalysts are important for two reasons. With our private equity approach, what we're always trying to do is begin with the end in mind. And when we buy a company, we ask ourselves who's going to buy it and what is that potential price."

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Blog Post

The 12 Days of Investing

We thought we'd mark the holidays with the 12 Days of Investing the Pender Way. Short posts in which we share some of the key tenets of our investment process. 

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