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.
Time in the Market
The Journal | July 2017
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...
Deconstructing Quality, Part II
The Journal | June 2017
Part I of the series looked at how Burgundy assesses the quality of a business via three elements – business characteristics, financial attributes and management – and examined the specific busine...
Resilience
June 2017
Since assuming the role of Chief Operating Officer at Burgundy last December, one of the common questions I get asked by clients is about my background, my career and education....
Let’s Take a Trip to Graham-and-Doddsville
The Journal | May 2017
“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 D...
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...
Deconstructing Quality, Part I
The Journal | April 2017
If you are at all familiar with Burgundy, likely you have heard time and again that we invest in “quality” companies when the share prices of those companies are trading...
Political Instability is Not the Same as Financial Instability
The Journal | March 2017
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 otherwi...