loader image
Pourquoi le ROCE est la clé?

Pourquoi le ROCE est la clé?

Une entreprise obtient de l’argent de ses actionnaires et ses créanciers (le passif de son bilan). Elle investit cet argent (l’actif de son bilan) dans l’espoir d’obtenir, chaque année, des profits qui viennent rémunérer cet argent investi. L’argent investi est appelé...
Notre vision de l’investissement

Our investment vision

Our goal is to assemble a diversified portfolio of good companies at the right price. The right company is growing in a sustainable and profitable way for its shareholders. The right price makes it possible to obtain an attractive return on our capital. Discover our ...

The retirement book

Ce livre explique simplement pourquoi les français ont raison d’avoir peur, quelle est l’ampleur du problème et comment chacun peut mettre en place une solution pour y faire face. Les sondages publiés sur le sujet de la retraite ont tous le même message:...
Guide de l’investisseur

Investor's guide

Why have we produced an investor’s guide? For the past 14 years, we have been investing our client’s money, along with our own, in listed European companies. This alignment of interests shows a clear commitment and creates a heightened awareness of our responsibilities...
Notre vision de l’investissement

The intrinsic value and the margin of safety

Intrinsic value and safety margin are the two most important concepts that guide our business investment philosophy. A company gives its shareholders the ownership of the annual cash flows that it will produce during the ...

The unique advantage of the company

The business has an advantage that all other asset classes like real estate, bonds, currencies, commodities do not have. This is what makes it valuable and gives it its superiority over the long term. What is this unique advantage? ...
en_USEnglish
fr_FRFrançais en_USEnglish

Pin It on Pinterest