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.
Play Within Your Circle of Competence
The Journal | November 2016
Earlier this year, the top athletes in the world put their physical skills on display at the Rio Olympics, and now it’s the intellectuals’ moment in the spotlight. The...
PDF: Winning by Not Losing
The View | October 2016
Before I became an investor, I was a tennis player. I played competitively as a junior and became pretty good at the game. It took me a long time to...
Investing for a Marathon
The Journal | July 2016
With the 2016 summer Olympic Games only a week away, I am reminded of the excitement that often surrounds the 100-metre dash. The anticipation as the sprinters line up, the speed...
The Quality-value Tug of War
The Journal | July 2016
By most accounts, the last few years have been a very tough time for deep-value investors. Persistent slow world economic growth and prevailing uncertainties about fundamental macroeconomic issues lik...
Boots on the Ground
The View | June 2016
Travel plays an essential role in Burgundy’s bottom-up investment research process. Our portfolio managers and analysts regularly travel to find new investment ideas, conduct due diligence on portfo...
Our Best Guess
The Journal | June 2016
Investors often have a notion about what is an acceptable or desired rate of return on their capital. This rate of return is typically expressed in percentage terms. For example, “...
The Chief Hazard to Investors
The Journal | May 2016
“The risk of paying too high a price for good-quality stocks – while a real one – is not the chief hazard confronting the average buyer of securities. Observation over many years...
Cherry Coke, Peanut Brittle & Witty One-liners
The Journal | May 2016
The Berkshire Hathaway Annual General Meeting (AGM) is the Super Bowl of annual general meetings. Shareholders make the pilgrimage to Omaha each spring to see Warren Buffett and Charlie Munger (...