The company must be profitable. Preferably it will have increased its earnings for the past five years and there will have been… — Peter Cundill Business Copy Share Image
The difference between the price we pay for a stock and its liquidation value gives us a margin of safety. This kind… — Peter Cundill Achieve Copy Share Image
The price must be less than one half of the former high and preferably at or near its all time low. — Peter Cundill All time Copy Share Image
Try to pick a fund manager who has a well-defined strategy, has been through these things before, and go invest and stay… — Peter Cundill Defined Copy Share Image
Why will someone sell you a dollar for 50 cents? Because in the short run, people are irrational on both the optimistic… — Peter Cundill Cents Copy Share Image
The most important attribute for success in value investing is patience, patience, and more patience. The majority of investors do not possess… — Peter Cundill Attributes Copy Share Image
You find bargains among the unpopular things, the things that everybody hates. The key is that you must have patience. — Peter Cundill Bargains Copy Share Image
When a stock doubles, sell half - then what you have is a free position. Then it becomes more of an art… — Peter Cundill Art Copy Share Image
Just as many smart people fail in the investment business as stupid ones. Intellectually active people are particularly attracted to elegant concepts,… — Peter Cundill Active Copy Share Image
I suspect that my thinking is an eclectic mix, not pure net-net because I couldn’t do it anyway so you have to… — Peter Cundill Eclectic Copy Share Image
The share price must be less than book value. Preferably it will be less than net working capital less long term debt. — Peter Cundill Book Copy Share Image
The company must be paying dividends. Preferably the dividend will have been increasing and have been paid for some time. — Peter Cundill Business Copy Share Image
The price earning multiple must be less than ten or the inverse of the long term corporate bond rate, whichever is the… — Peter Cundill Corporate Copy Share Image
I think that intelligent forecasting (company revenues, earnings, etc.) should not seek to predict what will in fact happen in the future.… — Peter Cundill Bases Copy Share Image
I’m lucky to have the kind of life where the differentiation between work and play is absolutely zilch. I have no idea… — Peter Cundill Differentiation Copy Share Image
There is almost always a major blip for whatever reason and we have learnt to expect it and not to panic. — Peter Cundill Inspirational Copy Share Image
They really can’t afford to be contrarians. A major investment house can’t afford to do research for five customers who won’t generate… — Peter Cundill Customers Copy Share Image
There will be losing years; but if the art of making money is not to lose it, then there should not be… — Peter Cundill Art Copy Share Image
Long term debt and bank debt (including off-balance sheet financing must be judiciously employed. There must be room to expand the debt… — Peter Cundill Balance Copy Share Image
I bought stuff at 3.5 cents once and I thought it can’t go down to zero. It can. — Peter Cundill Cents Copy Share Image
We always look at the margin of safety in the balance sheet and then worry about the business. — Peter Cundill Balance Copy Share Image
What differentiates us from other money managers with a similar style is that we’re comfortable with new lows. — Peter Cundill Comfortable Copy Share Image
There is always something to do. You just need to look harder, be creative and a little flexible. — Peter Cundill Be creative Copy Share Image
