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Patient Capital Management


NormR
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This group may also be interested to know that Vito Maida spent a few years working alongside Prem Watsa and others at Hamblin Watsa Investment Cousel, the licensed firm that manages money for Fairfax.

 

Vito was loading up on Canadian resource stocks in 1998 - at the time a very unpopular move but a good one. And even in 2002/03 when many were calling a bottom, he was cautious. So, the fact that he's starting to buy is a big deal.

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  • 3 months later...

I've been waiting for Maida to update his online newsletter for ages. He has an amazing personality, if you read his recent 03/09 letter, he has averaged 3.3 investment decisions a year for he past nine years. It takes a remarkable amount of discipline to do this. Big congrats to Maida.

 

 

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Thanks for posting about Maida.  I for one had never heard of him.  He really hit the cover off the ball!

 

From his newsletter:

 

 

March 31, 2000 to April 30, 2009

 

% of Securities Outperforming Benchmark                80.00%

Average Outperformance Relative to Benchmark      83.62%

Mean Outperformance Relative to Benchmark          30.01%

 

(this is before fees and I'm not sure whether the benchmark is S&P or the TSX)

 

 

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Guest kawikaho

I have contacted PCM before.  Their performance is decent, but not great.  They sidestep the last two major blowups, but their performance for the past 9 years is just a bit better than 5% CAGR.  I think even after the recent blow up, Sprott has much better performance.

 

I like Sitka Pacific. 

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