If It Isn't Worth Doing...
"If something isn't worth doing, it isn't worth doing well." This is one of my favourite Charlie Munger lines and I think it's very applicable for those of us who manage money, for clients or just for...
View ArticleToo Good to be True
I came across a wonderful quote yesterday. I was reading a piece I'd found on the Tocqueville Asset Management website (www. tocqueville.com) written by their Chairman, Francois Sicart. "I never...
View ArticleBubbles, Animal Spirits and Other Depressing Stuff
One of my favourite investment writers is Jeremy Grantham, who is one of the founders and still a driving force behind GMO, a very successful investment manager. In addition to regularly reading his...
View ArticleThe Shareholder Letter You Should, But Won't, Be Reading Next Spring
Here's a real beauty that made the rounds at Steadyhand: The Shareholder Letter You Should, But Won't, Be Reading Next Spring. If you want to see the circus, there's no need to go to the big...
View ArticleWords From the Oracle
If you search for the definition of the word oracle, a lot of interesting definitions come up. Here are a few I handpicked: 1. a) prophet: an authoritative person who divines the future. b) a prophecy...
View ArticlePoolside with David Swensen
By Tom Bradley I got an email from Neil on Saturday afternoon: From: njensen@steadyhand.comSubject: Words of wisdom from SwensenBody: Read while watching Claire at swimming today (p.60): "Sensible...
View ArticleNo U.S. Equities Please
We are not a big firm and don’t talk to thousands of investors on a daily basis, but Chris, Scott and I do talk to a fair number. From our conversations, there is one theme that recurs constantly. I...
View ArticleWhat's Going on Out There?
It’s times like these that test our patience as investors. As of yesterday’s close, the TSX had dropped more than 12% since the beginning of the year. Last year’s gains were gone in a mere three weeks....
View ArticleGeorge and Ben - Take a Holiday (Part II)
A friend of mine who lives in the U.S. sent me a comment on my last blog that is worthy of a posting of its own. She is witnessing first-hand the fallout in the housing market and has a few words of...
View ArticleFees Don't Matter...Wanna Bet?
Will a collection of hedge funds beat the S&P 500 over the next 10 years? Warren Buffett doesn’t think so. And he’s willing to bet on it, to the tune of a million bucks. Buffett put his own cash...
View ArticleSowing the Seeds
I came across a great quote today and it is totally applicable to the market environment we find ourselves in. It comes from Tim McElvaine’s newsletter (www.mcelvaine.com). He in turn got it from an...
View ArticleWhat's Going on Warren?
Warren Buffett was recently interviewed by Charlie Rose. For investors looking for some clarification and insight into what’s currently going on in the United States, the exclusive conversation is an...
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Steady Freddie. Stanley's Coming.
A 7-game playoff series is a unique animal. It’s a roller coaster ride with potential mood swings after each game. It reminds me a lot of investing actually. As I sit here with my Canucks jersey on, I...
View ArticleForecasting
"The stock market has forecast nine of the last five recessions" - Paul Samuelson (Nobel Economist)
View ArticleThe Usual Suspects
By Tom Bradley "The risks are the usual: what you don’t know; what you’re not thinking about; probably the biggest risk is what you are 100% sure about.” Bruce Berkowitz, Fairholme Capital Management,...
View ArticleOld News
By Tom Bradley “I think the future of equities will be roughly the same as their past; in particular, common-stock purchases will prove satisfactory when made at appropriated price levels. It may be...
View ArticleInvest Like a Champion Today
By Scott Ronalds Warren Buffett’s perspectives on investing are worth their weight in gold (or better yet, stocks). Invest in things you understand. Wait for the right pitch. Don’t follow the herd. Buy...
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The Rear View Mirror
A great, timeless sketch from Carl Richards.Richards is an American fee-based financial planner and author. His sketches appear in the New York Times Bucks Blog and he writes a column for Morningstar...
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Things You Can Control
Another timeless sketch from Carl Richards.Richards is an American fee-based financial planner and author. His sketches appear in the New York Times Bucks Blog and he writes a column for Morningstar...
View ArticleStupid Way to Invest
By Tom Bradley The Report on Business today published excerpts from an interview with John Bogle, the father of indexing and founder of Vanguard. We found one of his answers on the wealth management...
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