Top Peter Cundill Quotes - Quotesmemo.com

Peter Cundill Biography

F. Peter Cundill (October 1938 – January 24, 2011) was a Canadian value investor. He was most noted for his flagship investment fund, Cundill Value Fund. Cundill was a follower of the Benjamin Graham investment style.

Read about Peter Cundill in Wikipedia

Random Authors

Peter Cundill Quotes

All we try to do is buy a dollar for 40 cents.

Buy, Cents, Dollar, Dollars, Trying

We always look at the margin of safety in the balance sheet and then worry about the business.

Safety, Worry, Balance, Margin, Sheet

I think that intelligent forecasting (company revenues, earnings, etc. ) should not seek to predict what will in fact happen in the future. Its purpose ought to be to illuminate the road, to point out obstacles and potential pitfalls and so assist management to tailor events and to bend them in a desired direction. Forecasting should be used as a device to put both problems and opportunities into perspective. It is a management tool, but it can never be a substitute for strategy, nor should it ever be used as the primary basis for portfolio investment decisions.

Company, Intelligent, Opportunity, Point, Purpose, Thinking

You find bargains among the unpopular things, the things that everybody hates. The key is that you must have patience.

Hate, Hates, Having Patience, Keys, Patience, Unpopular

The price must be less than one half of the former high and preferably at or near its all time low.

All Time Low, Former, Half, Lows, Preferably, Time

They really can’t afford to be contrarians. A major investment house can’t afford to do research for five customers who won’t generate a lot of commissions.

Commissions, Customers, Five, House, Investment, Research

I suspect that my thinking is an eclectic mix, not pure net-net because I couldn’t do it anyway so you have to have a new something to hang your hat on. But the framework stays the same.

Thinking, Hats, Framework, Pure, Couldnt

The company must be profitable. Preferably it will have increased its earnings for the past five years and there will have been no deficits over that period.

Earning, Earnings, Increased, Past, Period, Years

There is always something to do. You just need to look harder, be creative and a little flexible.

Creative, Needs, Looks, Look, Flexible

Just as many smart people fail in the investment business as stupid ones. Intellectually active people are particularly attracted to elegant concepts, which can have the effect of distracting them from the simpler, more fundamental truths.

Distracting, Intellectually, People, Smart, Stupid

When a stock doubles, sell half - then what you have is a free position. Then it becomes more of an art form. When you sell depends on individual circumstances.

Art, Circumstances, Half, Individual, Position, Stock

If it is cheap enough, we don't care what it is.

Care, Cheap, Don'T Care, Enough

Sooner or later, the market will do what it has to do to prove the majority wrong.

Majority, Prove, Sooner, Sooner Or Later

Try to pick a fund manager who has a well-defined strategy, has been through these things before, and go invest and stay with him.

Fund, Strategy, Things, Trying, Wells

To my knowledge there are no good records that have been built by institutions run by committee. In almost all cases the great records are the product of individuals, perhaps working together, but always within a clearly defined framework. Their names are on the door and they are quite visible to the investing public. In reality outstanding records are made by dictators, hopefully benevolent, but nonetheless dictators.

Framework, Individuals, Names, Reality, Running, Together

The most important attribute for success in value investing is patience, patience, and more patience. The majority of investors do not possess this characteristic.

Attribute, Characteristic, Important, Investing, Majority, Patience

To put money into anything, anywhere, provided that the downside is measurable and acceptable and the chances of a good profit appear to be better than 50%. I will not take gambles, but it is part of my job description to be ready to take very carefully calculated risks.

Jobs, Risk, Chance, Profit, Downside, Job

The company must be paying dividends. Preferably the dividend will have been increasing and have been paid for some time.

Company, Has Beens, Increasing, Paid

I try to keep in mind Oscar Wilde's comment that "saints always have a past and sinners always have a future," so no investment should be ruled out simply on the basis of past history. We focus on liquidation analysis and liquidation analysis alone.

Alone, Focus, Future, Investment, Mind, Past

The difference between the price we pay for a stock and its liquidation value gives us a margin of safety. This kind of investing is one of the most effective ways of achieving good long term results.

Achieving, Differences, Effective, Investing, Long, Safety

››

Peter Cundill Biography

Contact Us

About us