Views & Insights
Periodically we publish content that puts our principles and views into practice, because education is an essential component of long-term investment success.
CATEGORY: Being a successful investor
Minerva Issue 2: Invert, Always Invert
Minerva | October 2019
The past 30 years have truly been a spectacular period to be invested in stocks. A US$10,000 investment in the S&P 500 Index at the end of 1988 would have grown...
Minerva Issue 1: Inside the Book Club
Minerva | April 2019
In the typical path to becoming a better investor, most people spend their time understanding financial concepts such as how to interpret a company’s financial statements or learning...
Tough October
The Journal | November 2018
It was another tough October—famously the most difficult month of the year for the stock market. There once was a rational explanation for this phenomenon. In the old days,...
Marshmallows and the Cost of a Moat
The View | October 2018
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...
Lazy Fund Managers
The Journal | April 2018
When we started Burgundy 26 years ago we had some basic principles and values in mind. We would aim to make significant investments in well run businesses run by trustworthy, capable...
Stoic Training for Private Investors
The Journal | March 2018
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 entrep...
PDF: The View from Burgundy Compilation: 1990-2016
The View | May 2017
When we started Burgundy, we had two main goals: to focus on earning long-term absolute returns for our clients (without taking excessive...
The Capacity to Endure Pain
The Journal | May 2017
If you have seen The Big Short, the 2015 film adaptation of Michael Lewis’ book of the same name, you will remember the scene in which Michael Burry (played by Christian...