David Barr

Value based portfolio manager looking for opportunities in North American technology, industrial and financial companies. Disclaimer:

[Laura Baker @PenderLB]

January started strong for small caps, our Fund delivered +7.7%. Outperformance reflected disciplined exposure and thematic focus. Opportunity often emerges where prices disconnect from fundamentals.
https://t.co/ZYGXl6PBKG

[Laura Baker @PenderLB]

Luck rarely feels like luck in real time. It looks like geography, community, timing ... & the banana peels you didn’t slip on. In markets, longevity often depends as much on what you avoid as what you pursue. Some reflections on luck and good judgment:
https://t.co/es4nE3wauV

[David Barr @PenderDave]

My favorite morning email is now available for public consumption! This is something we’ve been working on for the past few months, where we’ll share themes, ideas, and how our equity team is thinking about markets.
Subscribe here: https://t.co/1EwEr7AmaO

[David Barr @PenderDave]

@garrytan Survivorship bias Garry. I expect better of you.

[David Barr @PenderDave]

@commonsenseplay @RyanCon33356914 @be4_the_h3rd Highly unlikely $6-7 per share gets accepted.

[David Barr @PenderDave]

@be4_the_h3rd Agreed. It’s our largest holding.

[David Barr @PenderDave]

@shaneparrish Big shout out to @shaneparrish he joined our investment team at our annual learning retreat and was lights out amazing with the value he provided on decision making. Now featuring this. If you don’t listen to this podcast your future is guaranteed.

[David Barr @PenderDave]

Great article on the next cohort of tech companies to come public in Canada. The quality of companies here will position Canada very well for the next 20 years! https://t.co/7BNT6UxTNc

[David Barr @PenderDave]

As usual @iancassel calls it like it is in micro cap.

[Ian Cassel @iancassel]

In microcap often times you are too “early” to the turnaround, catalyst, acceleration of growth. It’s why position sizing is so important and also winning normally looks like sitting on dead money for 1-3 years and then having it triple in a month.

[David Barr @PenderDave]

@sonofsarah Beef bulgogi on the grill for the win!

[David Barr @PenderDave]

Great post on one of my favourite small cap ideas!
🙏

[Leverage Athlete @LeverageAthlete]

In 2023, $CPLF signed Endorsed Apps deal with SAP.

I assume SAP sees lots of value in $CPLF software.

Accountants don’t. They want $CPLF to make R&D investments on it’s I/S.

So it remains a cash-burning machine, on paper.

In reality, it’s a >25% revs grower with >6x potential

[David Barr @PenderDave]

@PaulAndreola @Nesjamag Agree with everything said here. Even being old enough to remember when micro caps traded at a premium. Lots of business here where the base case is getting the economics of the business growth over the next 5 years. Added optionality of a multiple exp or M&A

[David Barr @PenderDave]

@trend_bullish @PaulAndreola If you can identify the companies that are going from losing money to profitable, you can build your position at a very attractive valuation with lower risk.

[David Barr @PenderDave]

@trend_bullish @PaulAndreola I think this is a good signal investors are coming back into micro and small cap and they always start with the lower risk companies.

[David Barr @PenderDave]

@sentdefender L m. I

[David Barr @PenderDave]

At Pender we see an exciting opportunity in stressed and distressed credit markets today. Join us on June 15, to learn more about the Pender Credit Opportunities Fund, a private, LP fund available to Accredited Investors who meet certain criteria. https://t.co/BnA7dpEhN5

[David Barr @PenderDave]

@BillBrewsterTBB Thanks Bill!

[David Barr @PenderDave]

@ColinKeeley @BrentBeshore @CapitalCamp You nailed it!

[David Barr @PenderDave]

@ChrisBloomstran @chrispronger @oliveandoakstl @TheJRNYWhisky Are you bringing some to capital camp?

[David Barr @PenderDave]

So the value proposition @uber had was customer service. Based on recent experience I think they’re lost.