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There's Always Something to DoThe Peter Cundill Investment Approach |
eBook Available
The story of the origins and development of Peter Cundill's pioneering investment journey.
Peter Cundill, a philanthropist and investor whose work has been praised by the likes of Warren Buffett, found his life changed forever when he discovered the value investment principles of Benjamin Graham and began to put them into action. There's Always Something to Do tells the story of Cundill's voyage of discovery, with all its ups and downs, as he developed his immensely successful investment strategies.
In the context of recent financial upheavals and ongoing uncertainty, Peter Cundill's wise and frequently funny reflections are more important than ever. In a seamlessly assembled narrative drawn from interviews, speeches, and exclusive access to the daily journal Cundill kept for forty-five years, Christopher Risso-Gill outlines Cundill's investment approach and provides accounts of his investments and the analytical process that led to their selection.
A book for everyday investors as much as professional investors and investment gurus, There's Always Something to Do offers a compelling perspective on global financial markets and on how we can avoid their worst pitfalls and grow our hard-earned capital.
In the context of recent financial upheavals and ongoing uncertainty, Peter Cundill's wise and frequently funny reflections are more important than ever. In a seamlessly assembled narrative drawn from interviews, speeches, and exclusive access to the daily journal Cundill kept for forty-five years, Christopher Risso-Gill outlines Cundill's investment approach and provides accounts of his investments and the analytical process that led to their selection.
A book for everyday investors as much as professional investors and investment gurus, There's Always Something to Do offers a compelling perspective on global financial markets and on how we can avoid their worst pitfalls and grow our hard-earned capital.
Details
248 Pages, 6.25 x 9.25
ISBN 9780773538634
February 2011
Formats: Paperback, eBook
"An excellent book and a fresh contribution to the subject of value investing, through the compelling life of one of its key thinkers and practitioners. There's Always Something to Do should prove fascinating reading for both Canadian and foreign investors." Karl Moore, Desautels Faculty of Management, McGill University
"Having known Peter Cundill for thirty-five years, and participated with him in many investments, There's Always Something to Do tells the tale of one of the great value investors of our time. It includes stories of many small and mid cap situations that the large cap, institutional world wouldn't otherwise know. This is a must read for the value crowd, right up there with Buffett and Klarman." Michael Price, MFP Investors Inc.
"In crystal-clear, economic prose, Risso-Gill brings Cundill to life...Book reviewers are supposed to find something, anything, to quibble about. But this book is a triumph. Risso-Gill breathes life into Cundill the man, covers his entire career, places it in its social, political and business context, and outlines his philosophy. The book is more than a biography of ideas, though: it's also of practical value to investors... this fine book is not about promise, but fulfillment." North American Value Investing
"Having known Peter Cundill for thirty-five years, and participated with him in many investments, There's Always Something to Do tells the tale of one of the great value investors of our time. It includes stories of many small and mid cap situations that the large cap, institutional world wouldn't otherwise know. This is a must read for the value crowd, right up there with Buffett and Klarman." Michael Price, MFP Investors Inc.
"In crystal-clear, economic prose, Risso-Gill brings Cundill to life...Book reviewers are supposed to find something, anything, to quibble about. But this book is a triumph. Risso-Gill breathes life into Cundill the man, covers his entire career, places it in its social, political and business context, and outlines his philosophy. The book is more than a biography of ideas, though: it's also of practical value to investors... this fine book is not about promise, but fulfillment." North American Value Investing
Christopher Risso-Gill lives and works in London and for ten years was a director of the Cundill Value Fund.
There's Always Something to Do
Christopher Risso-Gill
Table of Contents
Foreword PREM WATSA / vii
1 The Eureka Moment / 3
2 Getting to First Base / 7
3 Launching a Mutual Fund on Value Principles / 17
4 Value Investment in Action / 33
5 Going Global / 45
6 Swapping Continents / 51
7 A Decade of Success / 57
8 New Dimensions / 65
9 Investments and Stratagems / 71
10 Surviving a Crash / 85
11 Distressed Corporate Securities and Defaulted Sovereign Debt / 97
12 Dealing with Adversity / 113
13 Per Ardua ad Astra / 121
14 The Perfect Match / 133
15 Entering the Big League / 139
16 There’s Always Something Left to Learn / 149
17 Dancing with the Witch Doctor / 159
18 The Russian Bear / 165
19 The Canadian Buffet / 173
20 Fragile X / 179
21 What Makes a Great Investor? / 185
22 A Kind of Retirement / 191
GLOSSARY / 197
APPENDIX 1: Some major figures in Peter Cundill’s investment world / 219
APPENDIX 2: Investments held by Peter Cundill entities as of 31 July 2010 / 223
APPENDIX 3: Net-net work sheet / 225
APPENDIX 4: Mackenzie Cundill Value Fund / 227
APPENDIX 5: Transcription of journal page, p. 2 / 229
INDEX / 231
Christopher Risso-Gill
Table of Contents
Foreword PREM WATSA / vii
1 The Eureka Moment / 3
2 Getting to First Base / 7
3 Launching a Mutual Fund on Value Principles / 17
4 Value Investment in Action / 33
5 Going Global / 45
6 Swapping Continents / 51
7 A Decade of Success / 57
8 New Dimensions / 65
9 Investments and Stratagems / 71
10 Surviving a Crash / 85
11 Distressed Corporate Securities and Defaulted Sovereign Debt / 97
12 Dealing with Adversity / 113
13 Per Ardua ad Astra / 121
14 The Perfect Match / 133
15 Entering the Big League / 139
16 There’s Always Something Left to Learn / 149
17 Dancing with the Witch Doctor / 159
18 The Russian Bear / 165
19 The Canadian Buffet / 173
20 Fragile X / 179
21 What Makes a Great Investor? / 185
22 A Kind of Retirement / 191
GLOSSARY / 197
APPENDIX 1: Some major figures in Peter Cundill’s investment world / 219
APPENDIX 2: Investments held by Peter Cundill entities as of 31 July 2010 / 223
APPENDIX 3: Net-net work sheet / 225
APPENDIX 4: Mackenzie Cundill Value Fund / 227
APPENDIX 5: Transcription of journal page, p. 2 / 229
INDEX / 231
