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Peter Brown, Honorary Chairman and Founder, Canaccord Financial

I came across a 2011 article about Canaccord Financial founder Peter Brown, and I particularly enjoyed the following excerpt:

In 1968, Brown and partner Ted Turton bought 51 per cent of a struggling Vancouver brokerage for $23,000. They soon ran into problems with an “irresponsible” financial partner who bankrupted the company, he said.

“We started in ’68, and by ’71 we were bust after having a bit of a good run,” Brown recalled in an interview at his office.

The young businessman took inspiration from a 17-page Time magazine essay -Millionaires Under 40 -that examined the attributes of several U.S. millionaires.

“They only had one thing in common -they’d all gone tits-up twice,” Brown said. “They were all resilient.

“Business is not big steps. It’s little steps, some forward and some back.”

Throwback: ‘Little steps’ took Canaccord founder to the top | Vancouver Sun

Also: Peter Brown Recommends Boomerang by Michael Lewis