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.
Japan: One Year Later
The Journal | April 2012
It has been one year since the Great East Japan Earthquake. The earthquake and tsunami that followed killed over 15,000 people, rendered more than 320,000 homeless, and caused approximately US$200 bil...
Sources of Volatility in Equity Markets
The Journal | March 2012
Since the world financial crisis began in mid-2008, high-quality investments have greatly outperformed lower-quality ones. It hasn’t been a straight line outperformance by any means, given the bouts...
Berkshire Hathaway's Annual Shareholder Letter
The Journal | February 2012
Although we read a lot at Burgundy, there is little that is considered “mandatory” reading. Warren Buffett’s annual letter to shareholders might top the list. Not long after the...
Hedge Funds: Quitting While They're Behind
The Journal | February 2012
Last month, Mat Harrison’s post “Where to Hide” mentioned how hedge funds have not been living up to their intended objectives. Building on this idea, The Economist posted an...
Why Stocks Beat Gold and Bonds
The Journal | February 2012
Warren Buffett recently wrote an article that appears in this month’s issue of Fortune Magazine, titled “Why Stocks Beat Gold and Bonds.” As we understand it, this will constitute...
European Equities
The Journal | January 2012
As part of a Globe and Mail article on investing in Europe, I was recently interviewed by Brian Milner to discuss how Burgundy invests in European equities. My message was...
Where to Hide?
The Journal | January 2012
“Denial ain’t just a river in Egypt” – Mark Twain Looking for bright spots in the global economy is a difficult task at present. There is no sense in...
Shakespeare on Investing
The Journal | January 2012
At the very outset of Shakespeare’s least loveable comedy, The Merchant of Venice, Antonio is telling his friends of his depression, and how difficult it is for him to...