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Borsgade
In its October 2023 update, Kurt Kara and the team behind their Value Stocks fund give an update on the macroeconomic situation in the US and developments in the portfolio portfolio. Here they also unveil a new position that they have added to the portfolio: French luxury group LVMH Moet Hennessy Louis Vuitton.
In relation to the portfolio, they write:
In October, we decided to add French luxury group LVMH Moet Hennessy Louis Vuitton to our portfolio. The stock was bought at 20x the estimated earnings, which in our opinion was very attractive at the time of purchase. We financed the acquisition with the sale of the position in Gentex, as it was our assessment that LVMH has a more attractive business model in the long term.
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