Three lessons from a Canadian investing legend

The need for a "margin of safety" and other essential investment advice from famed deep-value investor Peter Cundill, by Morningtar's Larissa Fernand

Morningstar 24 May, 2019 | 2:00PM

It will be a grave injustice to describe Peter Cundill solely as a famed value investor. More apt would be the epithet bestowed upon him at an awards ceremony: Indiana Jones of Canadian Money Managers.

The book "Routines and Orgies: The Life of Peter Cundill" was so named as the flamboyant money manager was greatly taken with Aldous Huxley's words: "the rhythm of human life is routine punctuated by orgies". Avid sportsperson, marathon runner, extensive traveler, committed philanthropist, coupled with his dalliances with women and investing genius, point to a truly multi-dimensional personality.

His first job was at Wood Grundy, the premier Canadian broking and investment banking presence in Europe, during a boom in mining shares. He was given the task of overseeing the London branch’s stock-positioning book.

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