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Peter Cundill Quotes

We do liquidation analysis and liquidation analysis only Picture Quote #1

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 Picture Quote #1

Long term debt and bank debt (including off-balance sheet financing must be judiciously employed. There must be room to expand the debt position if required Picture Quote #1

The price must be less than one half of the former high and preferably at or near its all time low Picture Quote #1

The most important attribute for success in value investing is patience, patience, and more patience. The majority of investors do not possess this characteristic Picture Quote #1

All we try to do is buy a dollar for 40 cents Picture Quote #1

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Protect the downside. Worry about the margin of safety Picture Quote #1

I bought stuff at 3.5 cents once and I thought it can’t go down to zero. It can Picture Quote #1

Sooner or later, the market will do what it has to do to prove the majority wrong Picture Quote #1

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 Picture Quote #1

You find bargains among the unpopular things, the things that everybody hates. The key is that you must have patience Picture Quote #1

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 Picture Quote #1

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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 Picture Quote #1

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 Picture Quote #1

What differentiates us from other money managers with a similar style is that we’re comfortable with new lows Picture Quote #1

There is always something to do. You just need to look harder, be creative and a little flexible Picture Quote #1

We always look at the margin of safety in the balance sheet and then worry about the business Picture Quote #1

There is almost always a major blip for whatever reason and we have learnt to expect it and not to panic Picture Quote #1

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There will be losing years; but if the art of making money is not to lose it, then there should not be substantial losses Picture Quote #1

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Text Quotes

We do liquidation analysis and liquidation analysis only (Peter Cundill Quotes) 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. (Peter Cundill Quotes) Long term debt and bank debt (including off-balance sheet financing must be judiciously employed. There must be room to expand the debt position if required. (Peter Cundill Quotes) The price must be less than one half of the former high and preferably at or near its all time low (Peter Cundill Quotes) The most important attribute for success in value investing is patience, patience, and more patience. The majority of investors do not possess this characteristic (Peter Cundill Quotes) All we try to do is buy a dollar for 40 cents (Peter Cundill Quotes) Protect the downside. Worry about the margin of safety (Peter Cundill Quotes) I bought stuff at 3.5 cents once and I thought it can’t go down to zero. It can (Peter Cundill Quotes) Sooner or later, the market will do what it has to do to prove the majority wrong (Peter Cundill Quotes) 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 (Peter Cundill Quotes) You find bargains among the unpopular things, the things that everybody hates. The key is that you must have patience (Peter Cundill Quotes) 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 (Peter Cundill Quotes) 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 (Peter Cundill Quotes) 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 (Peter Cundill Quotes) What differentiates us from other money managers with a similar style is that we’re comfortable with new lows (Peter Cundill Quotes) There is always something to do. You just need to look harder, be creative and a little flexible (Peter Cundill Quotes) We always look at the margin of safety in the balance sheet and then worry about the business (Peter Cundill Quotes) There is almost always a major blip for whatever reason and we have learnt to expect it and not to panic (Peter Cundill Quotes) There will be losing years; but if the art of making money is not to lose it, then there should not be substantial losses (Peter Cundill Quotes)