We have created an investment firm of which we would want to be clients

Opportunities Fund
Flexible Fixed Income Fund
Dark Horse Fund
Partners Fund

Download our investor letters

and investor day transcript

Quarterly Letter PDF

Annual Letter PDF

Investor Day PDF


Rational Thinking and Factfulness

Deliberate Practice: A Case Study

Roy Thomson- Canada’s First Great Capital Allocator

Thoughts on Diversification

Incentives in Investment Management

Thoughts on the Concept of Investment Risk

Un-businesslike Approach to Investing

Studying Industry Change