A permanent page devoted to Peter Cundill has been added to Value Walk. Over the next few months I will be adding 2-3 resource pages a week on famous current and legendary investors. I will keep them a surprise to increase the excitement, so make sure to check back frequently. Or follow me on Twitter, Facebook or Feedburner.
The Peter Cundill Resource Page can be found under legendary value investors on the top toolbar, or at the following link-http://www.valuewalk.com/peter-cundill-resource-page/ Below is a brief excerpt from the page:
The Canadian born investor, Peter Cundill, plunged into the world of financial markets while he was still at McGill University, which he graduated from in 1960 with a degree in Commerce. Cundill recalls his first investment of worth $500 in a speculative mining stocks, he lost money in only 48 hours, which proved to be an exceptional learning experience. Cundill earned the designation of Chartered Accountant and then Chartered Financial Analyst before moving from Montreal to Vancouver to become the President of AGF Investment management; he worked at the company for four years from 1972 till 1975……
Peter also looked at distressed sovereign debt. In early 1995 the market for Brady Bonds (U.S. dollar loans to financially-distressed countries) collapsed when the Mexican peso was devalued. Panama bank debt was trading for $0.35 on the dollar. Peter calculated that the assets of Panama were worth more than enough to cover the debt load.
Peter bought millions of dollars of Panama’s debt. Only one year later, Peter sold the bonds for close to par and a return of over 150%. He later invested in the distressed debt of Argentina and Ecuador in the 90s.
To view the entire page, click on the following link-http://www.valuewalk.com/peter-cundill-resource-page/