The Life of Peter Cundill: Financial Genius, Philosopher, and Philanthropist by Christopher Risso-Gill (Summary)

Notes

• “Understanding relationships is as important in investment matters as financial analysis.” — Peter Cundill
• Go on as many trips as you can and have wild experiences.
• Be exceptional for the sake of being exceptional.
• Mentor promising people younger than you.
• He was fat and poor growing up which made him obsessed with fitness and money.
• Make and keep friends; have rich experiences daily.
• You need to get into situations that make your gut tight.
• Only stasis is frightening.
• He climbed Mt. Everest and rappelled down waterfalls. He went on a zero-gravity flight.
• In his 30s, he decides that he wants his profession to be his main goal in life, at the expense of having a wife and kids.
• If you have a great reputation and credibility, people will buy your products and services.
• He’s a student of Benjamin Graham. Read Security Analysis.
• Peter iterated on Graham’s ideas and developed his own investment strategy.
• Details are essential.
• Build a network of like-minded people in your industry.
• He studied history extensively.
• Identify the most important activity in your work and then spend all of your time doing that.
• His dad tried to commit suicide after the market crash of 1987.

Cundill's Principles For a Good Life:

• Exercise 0.5-2 hours every day.
• Sleep a lot.
• Read even more.
• Drink once in a while.
• No cigarettes.
• Never stop learning.
• Once a year, do a marathon.
• Once a year, do something that scares the shit out of you, like bungee jumping, white water rafting, or skydiving.
• Strive for balance through contradictions.
• Own a house, enjoy hotel rooms.
• Travel a lot. Travel to extreme and obscure places.
• Don’t own a car. Use a bike, ride the subway, or rent a limo.
• Freedom is the absence of obligation.
• Be open but keep a few dark secrets.