The View from Burgundy

Marshmallows and the Cost of a Moat

The VIEW from BURGUNDY One of the most frequently mentioned research studies in the field of developmental psychology is the “marshmallow test”. Conducted in the late 1960s and early 1970s, the experiment considered how children’s ability to exercise delayed gratification would affect their success in life. The test was designed like this: children were offered… Continue reading “Marshmallows and the Cost of a Moat”

Stoic Training for Private Investors

Philosophy seems to be trending these days. In 2013, Burgundy sought investing inspiration from ancient Greece, publishing a View on Stoicism and the Art of Portfolio Intervention. Several tech entrepreneurs, such as Peter Thiel (co-founder of PayPal) and Reid Hoffman (co-founder of LinkedIn), proudly hold philosophy degrees. Charlie Munger, partner of Warren Buffett, has also… Continue reading “Stoic Training for Private Investors”

Boots on the Ground

The VIEW from BURGUNDY Travel plays an essential role in Burgundy’s bottom-up investment research process. Our portfolio managers and analysts regularly travel to find new investment ideas, conduct due diligence on portfolio holdings and build expertise on the geographies where our investments reside. As a global investor based in Toronto, this is particularly important to… Continue reading “Boots on the Ground”

How to Avoid Common Investment Mistakes

The VIEW from BURGUNDY As investors, each day we face triggers. Whether they manifest in our conversations with friends and colleagues, or in the barrage of daily media messaging, we are constantly surrounded by information that triggers hard-wired, internal “fight or flight” emotional responses. These responses originated as a means of survival for our ancestors… Continue reading “How to Avoid Common Investment Mistakes”

Confessions of a Buffetteer

The VIEW from BURGUNDY Burgundy is a self-described quality-value investor, but what does that really mean? What other value styles exist, and where does Burgundy fall within this sphere? Derived from a speech delivered at the London Value Investor Conference in May, the latest issue of The View from Burgundy, “Confessions of a Buffetteer,” tackles… Continue reading “Confessions of a Buffetteer”