Glossary

Growing Capital

Bond Yields

Written by PenderFund

Yield measures a bond’s rate of return. It is calculated differently than a regular stock return because it takes into account the interest and coupon rates, as well as the time to maturity. Related Content:[catlist […]

October 8, 2013
Protecting Capital

Margin of Safety

Written by PenderFund

Benjamin Graham, believed by many to be the father of value investing, wrote in his book The Intelligent Investor, “Confronted with [the] challenge to distill the secret of sound investment into three words, we venture […]

October 8, 2013
Growing Capital

Intrinsic Value

Written by PenderFund

Intrinsic value is the actual value of a company as opposed to its current market price. If an investor can conservatively estimate an actual intrinsic value range for a company, then he or she can […]

October 8, 2013