“Our approach has always been to find compelling bargains. We are never fully invested if there is nothing great to do.” Seth Klarman, Financial Analysts Journal

• March 17 2011 Report on Business: “Equities in Canada have, I think, gone to levels that are not attractive today, and could be in for a serious correction.” Vito Maida
• If a person buys a security at a price above its investment value, his only hope of avoiding loss is to sell it to someone else. Paraphrased from the third paragraph of the Preface of John Burr Williams' 1938 book The Theory of Investment Value. viii