Slipped under the radar
Just yesterday we discussed LVMH on the public channel, we told you about the consistent insider purchases by Europe's richest man, LVMH CEO and owner, Bernard Arnault.
So it turns out that Bernard Arnault is not the only one recently buying LVMH shares.
Here is interesting information that slipped under the radar and just now reached us from our research division.
A few weeks ago, the fund of legendary investor Chuck Akre began acquiring 1% of the total outstanding shares of luxury conglomerate LVMH at the current price level! (This acquisition was not disclosed to the public, it is not held in the US, but in France, and therefore is not required to be disclosed to the public, but nevertheless, our excellent research team did an amazing job and located this information just now!)
Akre's fund invests in a very limited number of companies, which, in the opinion of the fund's managers, are outstanding and exceptional businesses managed by talented executives!
The fund focuses on 3 investment principles before they invest a single $1 in any stock!
- Investing in exceptional businesses.
- Managed by talented and outstanding executives.
3. That excellently allocate their free cash flow.
This is a serious fund of a very serious investor, and its acquisition of 1% of LVMH's total shares, along with Bernard Arnault's consistent purchases when the stock is trading tens of percent below its peak, certainly provide an interesting perspective to consider here.
Disclosure: holds LVMH.