Power

Globe Investor Magazine, November 18, 2008..........

Ned Goodman

TITLE: President and CEO, Dundee Corp.; chairman of subsidiary Dundee Wealth Inc. and a portfolio manager, Toronto

VITALS: The 71-year-old Montreal native holds a B.Sc. in geology and an MBA. His son David succeeded him as CEO of DundeeWealth in 2007.

WHAT HE CONTROLS: Controlling shareholder of Dundee Corp. (which has real estate and resources investments, and DundeeWealth, with $59 billion in fee-earning assets at Sept. 30).

SHOW OF POWER: If there is big money to be made on a new trend, you'll likely find Goodman was there long before you. His specialty has been junior mining, where the big fortunes are won and lost in Canada, and where you can turn $10 into $100 in a matter of months. If Goodman is backing a company, everyone on Bay Street is interested. He hasn't slowed down in his 70s, and is still known for working the numbers on a deal through the weekend. Tough and entrepreneurial, he believes that independent, family-run wealth management companies can still beat the banks at their game-an inspiration to everyone on the Street who aspires to work for somebody other than the Big Five.

PERFORMANCE: Dundee's Class A shares lost 52.5% over the year ended Sept. 30. Its average annual return over five years: 10.2%.

WHAT'S NEXT: Ned Goodman's speech to a Bay Street audience in March now seems prescient. At the time, he suggested that North American stock markets were not in a bull market, but had been in a flatlining trend since 2002-similar to the Dow Jones pattern from 1966 to 1982. "It was a tough time to invest" back then, but not impossible, he said. "That's the time I built my career."

The outspoken entrepreneur built Dundee into an asset manager focused on wealth management, real estate and resources. Its largest subsidiary, Dundee-Wealth, owns Dynamic mutual funds, a brokerage arm and financial-planning firm. He expanded into the fund-distribution business before other rivals. "To compete with the banks, you have to be better than the banks," he says.

A pioneer, he forged ahead with income trust funds as early as 2001. He is a value-oriented money manager, but has added growth managers to his firm's menu. His vision is "to surround yourself with the people who are smarter than you...and give them room to make it all happen." -Shirley Won