“My mission in writing Market Masters: Interviews with Canada’s Top Investors is to create a strong platform (but not the platform, as that would be much too grandiose), to grow awareness of Canada’s Market Masters, and to share their timeless market wisdom with you, the reader.” – Robin Speziale, 28-year-old author of Market Masters
It’s not every day you read a 600-page book, let alone an investing book, and find it interesting but that’s exactly my conclusion with Market Masters. This is the only comprehensive book I know of on the Canadian market that features insightful conversations and direct advice from Canada’s top investors – for you.
Robin, the twenty-something author and wise investor beyond his years, was kind to send me a copy of Market Masters to giveaway to one lucky reader on my site. Here are the interviews that I enjoyed reading in Robin’s book and some of their quotes; money conversations with dozens of Canada’s preeminent investors.
Francis Chou – on discussing stocks – “You’re a businessman…you ask, ‘If I were to buy this company, how much would I pay?’”
Peter Hodson – “That ‘do nothing’ lesson was huge for me, especially when I became a fund manager. The tendency to do something because you’re getting paid is really high.” “Companies that grow their dividends are vastly superior to companies with high-dividend yields. Don’t get sucked into the 8% yield. Buy the 1% yield that’s going to 2%, 3%, 4%, 5%.”
Som Seif – “The best way to compound wealth is to avoid loss.” “We don’t trade every day. The more often you trade, the more likely you are to actually make mistakes.”
Ross Grant (Beat the TSX) – Early retiree Ross Grant has recently inherited the “Beat the TSX” model from Dr. David Stanley. (“Beat the TSX” model is the brother to the “Dogs of the Dow” model.) On answering the question why don’t other Canadians do it/follow this approach to early financial independence? “I wonder if they don’t know that it’s possible. I know it is a long-term plan and it took me over 20 years to achieve. It’s not a get-rich-quick scheme by any means, and you’ve got to have a lot of discipline.”
There are 20-plus other interviews Robin complied for Market Masters along with a collection of terms, definitions and a host of financial ratios for the keen investor. Overall I was impressed with this book and the depth of interview Q&A captured. Anyone interested in learning more about how many of Canada’s leading investors think and invest would be well-served to check out Robin’s book and read it thoroughly.