There's Always Something to Do: The Peter Cundill Investment Approach

by Christopher Risso-Gill

Overview

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.

Product Details

ISBN-13:	9780773538634
Publisher:	McGill-Queens University Press
Publication date:	02/10/2011
Pages:	248
Product dimensions:	6.10(w) x 9.10(h) x 0.70(d)

About the Author

Christopher Risso-Gill lives and works in London and for ten years was a director of the Cundill Value Fund.

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 Buffett 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

Editorial Reviews

"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

From the Publisher