Michael “the Wek” Wekerle, the fast talking Canadian investing legend and Chairman of Difference Capital, took to the stage at the Cambridge House CanTech Investment Conference in Toronto earlier this month to promote his firm and Canada’s technology sector.
Here are some of the more memorable of the Wek’s quotes:
“I don’t think anybody has raised more capital in mid and small cap companies than myself. I’m not bragging, I’ve just done this for 32 years. As people say, I’m older than dirt. I see younger faces on currency sometimes. I’m wearing makeup today because they wanted me to, is that akward?”
“Buy fear and sell greed and you understand how to make money.”
“Seymour Schulich had a great line when he said, “Mike, Integrity, honesty and loyalty are the key strengths to make money and once you do that you will make money, but the key thing is that have conviction.””
“Sometimes wrong and never in doubt.”
“When things move all boats rise but there’s no sign that ever says the market’s going to change…”
“Find a good company with good leadership with proprietary knowledge or first mover status.”
“The US market usually leads the Canadian market by 12-18 months in my experience.”
“It’s funny how the investment bankers start to switch from the resource sector back to the tech sector and all the promoters take all the mining stocks and become shells for tech stocks… That’s why I like the Canadian market… Canadian entrepreneurship never gives up.”
“The trend is your friend and I think we’re on a great road.”
Quoting Tony Forstmann of ForstmannLeff:
“The tech entrepreneur is a creator of the new and destroyer of the old is constantly in conflict with convention, he inhabits a world where belief precedes results and where the best possibilities are usually invisible to others. His world is dominated by denial, rejection, difficulty and doubt, and although as an innovator he is increasingly imitated. When successful, he always remains an outsider to the establishment. He is usually found to be disturbing and irritating, even unemployable. Yet ideas and dreams of his become the new reality in the ever changing world that surrounds us. If he knew the hurdles and frictions he would endure he might never have ventured, but then ventures grappling with the unknown. Well, the tech market is back.”
Neil Johnson, CEO of Difference Capital, followed Mr. Wekerle on the stage and concludes the 24 minute presentation with an overview of his firm.