I think that intelligent forecasting (company revenues, earnings, etc.) should not seek to predict what will in fact happen in the future. Its purpose ought to be to illuminate the road, to point out obstacles and potential pitfalls and so assist management to tailor events and to bend them in a desired direction. Forecasting should be used as a device to put both problems and opportunities into perspective. It is a management tool, but it can never be a substitute for strategy, nor should it ever be used as the primary basis for portfolio investment decisions.
Peter CundillWhat differentiates us from other money managers with a similar style is that weโre comfortable with new lows.
Peter CundillThe company must be paying dividends. Preferably the dividend will have been increasing and have been paid for some time.
Peter CundillThe 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