I recently started reading this book after Michael Price highly recommended it at an investment conference in London. I had never heard of Peter Cundill and was surprised to read in the foreword, written by Prem Watsa, that he achieved 15.2% compounded annual returns for 30 years!
I also think the title of the book is particularly apt for the present predicament of value investors who are having trouble finding bargains due to the market’s relentless rise.
I just started the book, and thus far I am loving it. I will report back with a more in depth review.