Buy-and-hold investing has its share of fans. If you admire Warren Buffett, Benjamin Graham, David Dodd, Charlie Munger, John Templeton, Joel Greenblatt or Seth Klarman, you're one of them.
The principles of value investing are simple: Buy inexpensive shares of well-run companies, and hold on to them, despite the ups and downs of the market. Don't look at technical charts. Don't worry about timing the market.
Is this style of investing for you? Does it really work better than other methods? What kind of strategies should you be using to identify good companies?
Richard Rooney, chief investment officer of Burgundy Asset Management Ltd., was online on Thursday at 10 a.m. to take your questions on value investing. Click on the Cover It Live box below to see the discussion.
Richard began his career at Price Waterhouse in 1981 and qualified as a chartered accountant in 1984. He then joined Sun Life as an investment analyst specializing in Canadian equities. Following a period as portfolio manager for Canadian equities, he was given responsibility for all non-Canadian equity investments at Sun Life's investment counselling subsidiary, Sunimco. He joined AMI Partners in 1989, where he had extensive responsibilities for Canadian equity research.
Richard joined Burgundy in February 1995, and was appointed president and chief investment officer in September 1997. In addition to these duties, he is responsible for EAFE and global equity mandates at Burgundy.
He is a director of Empire Life Insurance and Dominion of Canada General Insurance. He is a vice chair of the Stratford Festival of Canada, a trustee of The Art Gallery of Ontario Foundation, and a governor of The Dominion Institute. He received a Bachelor of Arts degree from the University of Toronto in 1977 and his MBA from the Richard Ivey School of Business at the University of Western Ontario in 1981. Richard obtained his Chartered Financial Analyst designation in 1987. In 2009, he was honoured by his peers and received the designation of Fellow of the Institute of Chartered Accountants.