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FoundersDecember 28, 2020

#160 Peter Cundill

About This Episode
What I learned from reading Routines and Orgies: The Life of Peter Cundill, Financial Genius, Philosopher, and Philanthropist by Christopher Risso-Gill. ---- Excellence as a goal in itself had been drummed into him from early boyhood. I’m convinced that to achieve real greatness a person needs above all to have passion but at the same time immense discipline, concentration, patience and an unshakeable determination to become a master of his craft. There is a choice of courses in life: either to seek equilibrium or to enjoy the heights and suffer the depths. You need to get into some situations which make your gut tight and your balls tingle. Do the unappealing things first. Once you have done your homework properly and are absolutely convinced that an investment is right you should not hesitate or wait for others to share the adventure. The price at which you start buying will almost invariably be imperfect but that should never discourage you. Excellence is an art won by training and habituation. We do not act rightly because we have virtue or excellence, but we rather have those because we have acted rightly. We are what we repeatedly do. Excellence then, is not an act but a habit. (Aristotle) The more that I think about the way the Greeks, especially the Spartans, regarded the subject of exercise and the necessity of maintaining peak levels of physical fitness, the more I am convinced that the health of the mind and the spirit are either bolstered or hampered by the condition of the body. Concentrate with absolute clarity on one thing at a time. The mantra is patience, patience, and more patience. Think long term and remember that the big rewards accrue with compound annual rates of return. ---- Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast
Book Mentions
9 book mentions in this episode.
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Books Mentioned

Routines and Orgies cover
Routines and Orgies
Christopher Rizzo Gill

This book is about the life of Peter Cundhill, exploring his journey as a financial genius, philosopher, and philanthropist, based on his extensive daily journals.

ASIN: N/A
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Beyond the Mexican Bay cover

This is a quote from Huxley's book that inspired the title of Peter Cundhill's biography, reflecting on the natural rhythm of human life.

ASIN: B0FR548JZ9
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There's Always Something to Do cover

There's another book, it's called There's Always Something to Do. I think the subtitle is The Investment Philosophy of Peter Cundhill. That's more if you want to learn how he got rich.

ASIN: N/A
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Institutional Investing cover

When Peter had first joined AGF, the chairman had given him Charles Ellis's book, Institutional Investing.

ASIN: N/A
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Super Money cover
Super Money
George Goodman

He got into a flight in December 1973, nursing a colossal hangover and clutching a copy of the book Super Money. It was his eureka moment.

ASIN: N/A
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Security Analysis cover
Security Analysis
Benjamin Graham and David Dodd

Goodman was referring to Benjamin Graham and David Dodd's remarkable book security analysis, which we've talked about over and over again.

ASIN: N/A
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Beyond the Mexique... Mexico Bay cover

In his book, Beyond the Mexique... Mexico Bay? Aldous Huxley wrote, Life is a series of routines, punctuations, and patterns.

ASIN: B0FR548JZ9
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After I Was 60 cover
After I Was 60
Roy Thompson

On a plane a passage from Roy Thompson's autobiography after I was 60 is the name of the book caught his eyes.

ASIN: 0176050086
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Aldous Huxley cover

The excerpt references a travel book by Aldous Huxley that influenced Peter's perspective on life, particularly a sentence about the natural rhythm of human life.

ASIN: 0060850523
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