Greetings from the Pearl River Delta

Greetings from the Pearl River Delta

The Journal | February 2019

On October 31st, we embarked on our six-month research project in China. Our objectives were to understand China better, to develop a network of professionals with valuable insights we could...

Who Pays?

Who Pays?

The Journal | January 2019

Over a year ago, Burgundy did a complete reassessment of our research costs based on new financial rules from Europe called MiFID II. Historically, brokerage firms have incurred expenses on...

Price vs. Value

Price vs. Value

The Journal | January 2019

Our job at Burgundy is to understand the true value of the quality companies that comprise our portfolios and Dream Team lists. That’s the reason we focus so heavily...

The Mathematics of Down Markets

The Mathematics of Down Markets

The Journal | December 2018

One of the hallmarks of value investing is that its practitioners cultivate a state of mind where their attitude is the inverse of the market’s. As bull markets advance...

China Matters

China Matters

The Journal | December 2018

For six months, I will be working in China. My colleagues Ching Chang, Terry Ouyang and I have embarked on an extended research effort in China. We departed Canada on...

Tough October

Tough October

The Journal | November 2018

It was another tough October—famously the most difficult month of the year for the stock market. There once was a rational explanation for this phenomenon. In the old days,...

Can You Get Hurt Jumping Out of a Basement Window?

Can You Get Hurt Jumping Out of a Basement Window?

The Journal | November 2018

An Interview With Richard Rooney. Burgundy’s investing approach takes time and patience. And, perhaps most importantly, it takes some original thinking, intensive research...

Deconstructing Quality, Part III

Deconstructing Quality, Part III

The Journal | September 2018

Our Deconstructing Quality series explores the three categories Burgundy assesses in our search for worthwhile companies. Part I looked into the business characteristics that help define a quality bus...

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