The REAL Enemy of the Bond Investor

The REAL Enemy of the Bond Investor

The Journal | March 2014

In my post, Statement Shock: Bonds in the Red, I discussed why bond prices drop when interest rates rise and why this shouldn’t matter much to investors with a...

KISS

KISS

The Journal | March 2014

Confucius wrote that life is really simple, but people insist on making it complicated. The investment business takes this truism to the extreme. What could be relatively simple is often...

The Big Mac Index

The Big Mac Index

The Journal | February 2014

The Canadian dollar took a beating in 2013 and the new year has so far brought an acceleration of the decline. On a one-year basis, our currency has lost 9.3% of its...

Searching for Snowballs

Searching for Snowballs

The Journal | January 2014

At Burgundy, we employ a value approach to managing our clients’ wealth. However, value has a broad spectrum of styles, ranging from deep value through quality value. The deep value (...

The Double-Edged Sword of Investing

The Double-Edged Sword of Investing

The Journal | December 2013

On November 27th, Morningstar Inc. held its annual Canadian Investment Awards, and Burgundy was proud to walk away with four awards in the pooled fund category. Quality investments have been...

Where Do Returns Come From?

Where Do Returns Come From?

The Journal | November 2013

Recently Burgundy’s Chief Investment Officer Richard Rooney stated in our annual client conference call that our equity return expectations for the markets over the next five years are 6-7%....

Statement Shock: Bonds in the Red

Statement Shock: Bonds in the Red

The Journal | October 2013

There’s no shortage of fear mongering in the financial media these days about the looming bond bubble. The negative sentiment is not unfounded. The federal reserve has been running...

Beware the Risks

Beware the Risks

The Journal | September 2013

In my previous post, I listed the reasons why Burgundy invests in Japan, but I also alluded to the risks that exist. Let me illustrate with the story of Olympus...

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