Monday, January 28, 2013

Richard Ivey - Pershing Square Event

Since I have started blogging I have been pleasantly surprised to meet many people who share my passion of value investing.  Recently, I was asked by one follower of this blog to both attend and promote an event being put on by the Investment Club of The Richard Ivey School of Business.  I said I would be honored and would gladly post the detail here. 

Event Details (Click Here for the Event Brochure):
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The Investment Club of The Richard Ivey School of Business cordially invites you to The CPR Activist Campaign and the Implications for the Canadian Establishment 
 
Featuring iconic author Peter C. Newman and Pershing Square Capital Management, L.P. Partner and Canadian Pacific Director Paul Hilal. 
 
Date & Time:
February 27th, 2013, 6:00 pm - 9:00 pm 
 
Location: 
Ivey ING Direct Leadership Centre 130 King St West, Toronto 
 
*Admission is free
 
Program: 
6:00 pm – 7:00 pm
Networking and Cocktails 
 
7:00 pm – 8:00 pm 
Keynote Address: 
"The Eclipse and Rebirth of Canada's Business Elite: From Aristocracy to Meritocracy" by Peter C. Newman
 
8:00 pm – 9:00 pm
Q&A with Peter C. Newman and Paul Hilal (30 min)
with Audience (30 min) 
 
(Moderated by Wes Hall of Kingsdale Shareholder Services) 
 
Please RSVP to iveyinvestmentclub@gmail.com by February 8th, 2013. 
 
*This event is open to MBA and Law students, Richard Ivey Alumni and distinguished members of the Ivey business network. The event is not open to the press and will be conducted off the record. 
 
The Richard Ivey School of Business would like to thank the Pershing Square Capital Management, L.P. for their generous sponsorship of this event.

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When I first heard Pershing Square was involved with this event, I immediately said I was not interest in attending.  I don't have a huge amount of respect for Bill Ackman, especially in like how how he's handled himself with the whole Herbalife fiasco.  I was relieved to hear that Paul Hilal would be attending instead of Mr. Ackman. 

While I would have loved to attend this event I unfortunately will not be able to.  I am on vacation for the first couple of weeks in February and as soon as I return I am heading down to our USA operations for a week.

Now this event should be quite interesting.  As some may be aware the CPR railway played a monumental role in the founding, development and industrialized of the nation and its board of directors has always been composed of the most eminent, and 'untouchable' members of the business/financial/political elite in Canada.

The fact that a foreign hedge fund (Pershing Square) was able to successfully win shareholder support (particularly from other establishment players like Canada Pension Plan, Teachers pension plans, etc) to depose the CPR board members proved to be a watershed event in the history of Canadian business and will have implications for many other organization and investors. 

Peter Newman has been advancing the idea that the Canadian Establishment, an old boys club that rules many Canadian corporate boards, is dying.  The CPR event may well be he last nail in the coffin, marking the rise of a new class of businessmen and entrepreneurs. His keynote address will be centered on this.  The Q&A session will allow the ideas to be explored in greater detail. 

It promises to be a great event.


Best Regards,
Kevin



1 comment:

  1. Hey Kevin,

    I wanted to know if you use certain screening tools to screen out stocks? For example, p/e less than 10, debt to equity less than 0.5 and so forth. If you do, which ones to you use and what criteria do you input?

    ReplyDelete