The Eighth Wonder

PDF: The Eighth Wonder

The View | February 2004

On a cold Montreal day in February 2000 at BCE Inc. headquarters, Jean Monty was making a tough decision. As head of the dominant local telephone company in eastern Canada, Mr....

A Record of Failure: Fund Managers as Shareholders

PDF: A Record of Failure: Fund Managers as Shareholders

The View | September 2003

About four years ago, I gave a speech to the Canadian Institute of Chartered Accountants’ Financial Reporting Conference in which I examined the role of the auditor and accountant in...

Rooney's Believe It or Not

PDF: Rooney's Believe It or Not

The View | June 2003

I’m sure when you opened your first-quarter report you had a moment when you thought (among other things), “I wish I hadn’t been in stocks last year.” And...

Horse Sense

PDF: Horse Sense

The View | January 2003

Jim Grant, the editor of Grant’s Interest Rate Observer and guest speaker at Burgundy’s 2000 Client Day, once wrote in a typically elegant formulation that “the tricky thing about...

Wise Passivity, Cautious Opportunism

PDF: Wise Passivity, Cautious Opportunism

The View | November 2001

“‘To enjoy the benefits of time’ was one of the chief maxims of the statecraft of the age. Time untied so many knots, cancelled the necessity for so many desperate...

A Year of Living Dangerously

PDF: A Year of Living Dangerously

The View | May 2001

When you saw the title of my presentation today, I expect you thought we were going to review last year’s peculiar markets. That would have given us the opportunity...

Margin of Safety

Margin of Safety

February 2001

“In the old legend the wise men finally boiled down the history of mortal affairs into the single phrase, ‘This too will pass.’ Confronted with a like challenge to distill...

Indexers, Arbitrageurs and Organ Donors

PDF: Indexers, Arbitrageurs and Organ Donors

The View | December 2000

The investment strategy that has been the biggest winner with clients in the last quarter century is neither a growth strategy nor a value strategy. It is index investing, known...

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