A Canada Investing Star Says His Old Firm Deserved to Die

Gluskin Sheff & Associates Inc., the Canadian money manager that’s being shut down by Onex Corp., has earned its demise, says one of the men who co-founded it.

“I mean they really deserved to go out of business,” Ira Gluskin said in an interview on BNN Bloomberg Television. Gluskin Sheff lost some of its most talented people over the years because “the culture was bad,” he said.

Gluskin started the business in 1984 with Gerald Sheffas an independent firm serving wealthy Canadians. Strong investment results, and Ira Gluskin’s frequent media appearances, turned them into big names in ...