Burgundy Blog

Key Messages from Burgundy’s Conference Call

Burgundy’s November conference call is becoming something of a pre-holiday tradition. This year’s call featured an update from Richard Rooney, our President and Chief Investment Officer, and comments from Chief Operating Officer Robert Sankey, and Chairman and Chief Executive Officer Tony Arrell. The call addressed a wide range of topics, but throughout, Richard, Rob and… Continue reading “Key Messages from Burgundy’s Conference Call”

Time in the Market

There was a recurring theme at the annual Burgundy Client Day on June 8th: the market is getting expensive. Burgundy’s Portfolio Managers highlighted the difficulties finding high-quality companies at attractive prices in the current market environment. Given valuation levels, our return expectations going forward are modest. This raises the question: is it a good time… Continue reading “Time in the Market”

Let’s Take a Trip to Graham-and-Doddsville

“The Superinvestors of Graham-and-Doddsville” is a legendary address delivered by Warren Buffett to the Columbia Business School in 1984 to mark the 50th anniversary of Benjamin Graham and David Dodd’s seminal investment book Security Analysis. Though the address is primarily about defending the value investment style of active management and disproving the efficient market hypothesis,… Continue reading “Let’s Take a Trip to Graham-and-Doddsville”

Political Instability is Not the Same as Financial Instability

It can be difficult to discern between political and financial instability. Global capital markets often mirror tempestuous political campaigns, eliciting financial anxiety that might not have otherwise existed. To illustrate an example of this behaviour, let’s reach back to November 22, 1963. It was the day that President John F. Kennedy was shot and killed… Continue reading “Political Instability is Not the Same as Financial Instability”