Differentiation Quote by Peter Cundill

The company must be profitable. Preferably it will have increased its earnings for the past five years and there will have been no deficits…

— Peter Cundill

The difference between the price we pay for a stock and its liquidation value gives us a margin of safety. This kind of investing…

— Peter Cundill

The price must be less than one half of the former high and preferably at or near its all time low.

— Peter Cundill

Try to pick a fund manager who has a well-defined strategy, has been through these things before, and go invest and stay with him.

— Peter Cundill

Why will someone sell you a dollar for 50 cents? Because in the short run, people are irrational on both the optimistic and pessimistic side.

— Peter Cundill

The most important attribute for success in value investing is patience, patience, and more patience. The majority of investors do not possess this characteristic.

— Peter Cundill

You find bargains among the unpopular things, the things that everybody hates. The key is that you must have patience.

— Peter Cundill

When a stock doubles, sell half - then what you have is a free position. Then it becomes more of an art form. When…

— Peter Cundill

Just as many smart people fail in the investment business as stupid ones. Intellectually active people are particularly attracted to elegant concepts, which can…

— Peter Cundill

I suspect that my thinking is an eclectic mix, not pure net-net because I couldn’t do it anyway so you have to have a…

— Peter Cundill

The share price must be less than book value. Preferably it will be less than net working capital less long term debt.

— Peter Cundill

The company must be paying dividends. Preferably the dividend will have been increasing and have been paid for some time.

— Peter Cundill