Opinions

2019-07-16

TINA – Are we in the ZIRC? II – “Do Gentlemen really prefer Bonds?”

In this month's opinion, Pierre Cloux examines the Mr. Market 2019 projection vs. Bond rates, questioning the current environment and its possible consequences.
2019-06-13

Seeking Wisdom IV – “Value Investing”

As the saying goes: “When the going gets tough, the tough get going!” Even though the month of April showed some clemency, even optimism, as I outlined here a month ago, Mr. Market in May seems to be of a more jittery and moody disposition. That is why I dug deep once again in order to seek wisdom and quench any whim of nervous trading activity. It is not the house-style anyway, as our philosophy is “Value Investing”.
2019-05-15

6.40% - Premonitory dream – TINA, are we in the ZIRC?

In this month's opinion, find out about a dream come true.
2019-04-18

King of the (Dance) Floor! (part 2) – Smart Moves & “Happy” Returns!

In 2013, Pierre Cloux was writing about a new investment in a company called Forbo. In this month's opinion, find out what has happened since.
2019-03-12

“Can Pandas fly?” (1) – A visit to Chengdu and to The 90-bagger Dragon!

In this article Pierre Cloux shares his account of a recent trip to China, discovering this fascinating country, analysing its fast growing economy and visiting production sites of the companies he is invested in.
2019-02-26

Valiant – let’s bank on it!

In this month's opinion, find out about Valiant's development plans and a travel note from Pierre Cloux in China.
2019-01-07

“Nerve-racking pain and teeth-pulling strain“ Let’s list the 2018 Razzie Nominations!

In this month's opinion, Pierre Cloux Lists the 2018 Razzie Nominations.
2017-06-02

Covfefe – Mad Max beyond the Thunderdome, Aunty Entity, but who’s “TINA”?

As reported last month, according to my methodology, half of our corporates have reached or surpassed their intrinsic value. So has Mr. Market become Mad Max, the post-apocalyptic action hero stranded in the Australian desert at the hands of Aunty Entity, aka ruthless central bankers?
2017-05-05

Mr. Market – Dancing on the ceiling? – About uncertainty & investing!

So, is Mr. Market dancing on the ceiling, like Lionel Richie? Not quite! Even though, according to my methodology, half of our corporates have reached and surpassed their intrinsic value, we still have 10 companies trading below, a few of which are much below that value.
2017-04-06

Galenica “en pleine” Santé - Bingo & Oops! Go figure, Mr. Market!

Well, St-Exupéry is one of my favourite authors and Galenica is one of my favourite companies. Back in early 2008, Galenica was generating 80% of its sales through pharmacies, under the brands Amavita, Coop Vitality and Sunstore, but was already a leader in iron drug delivery and had just launched its intravenous iron drug, Ferinject, in Europe.