Think like an owner
"In the short run, the market is a voting machine, in the long run it is a weighing machine."
Benjamin Graham, The Intelligent Investor, 1949
Canopy Investors expands team with appointment of Emmily Lau
Canopy Investors is delighted to announce Emmily Lau has joined the Canopy team, effective 6 May 2025.
Dollarama announce intended acquisition of The Reject Shop
Dollarama, a top holding in the Canopy Global Small & Mid Cap Fund, has announced its intended acquisition of ASX-listed The Reject Shop (TRS).
Everyone has a plan until they get punched in the face
"Know what you own and know why you own it."
Peter Lynch, One Up On Wall Street, 1989
James Hardie announces merger with AZEK
James Hardie this morning announced a merger with AZEK, valuing the latter at US$8.75 billion.
Price is what you pay, value is what you get
“It has been demonstrated time and time again that no asset is so good that it can’t become a bad investment if bought at too high a price”.
Howard Marks, The Most Important Thing, 2011
2025 Half-year investor letter
We are delighted to share our first half-yearly update for the Canopy Global Small and Mid-Cap Fund with you.
There is no substitute for quality
"Quality counts. If you are a long-term investor, it’s hard to find a more important factor as to what will power your ultimate investment returns. That said, quality is impossible to measure with precision because it often embodies more subjective qualitative factors than easily quantifiable measurements. Quality is also dynamic and changes over time".
Tom Gayner, CEO Markel
Fish where the fish are
“The first rule of fishing is 'fish where the fish are', and the second rule of fishing is 'don't forget rule number one'. And in investing it's the same thing. Some places have lots of fish, and you don't have to be that good a fisherman to do pretty well. Other places are so heavily fished that no matter how good a fisherman you are, you aren't going to do very well”.