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.
PDF: Avoid the Coming Oil Slick
The View | June 2006
The world is seeing an incredible commodities boom. You might be wondering if Burgundy is missing the gold rush. I am here to tell you that nothing could be further...
PDF: No Good Deed Goes Unpunished
The View | September 2005
On May 9, 2005, Dr. Werner Seifert, the CEO of Deutsche Börse AG, Europe’s most important securities exchange, was forced to resign by dissident shareholders of his company. Over Dr....
PDF: Requiem for a Brewer
The View | December 2004
In early 2002, Molson Inc., one of Canada’s grand old companies, appeared to have shaken off a history of poor decisions and positioned itself for a bright future. Under the...
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....
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...
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...
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...
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...