jeffmori7 Posted February 8, 2011 Share Posted February 8, 2011 For those interested, two recent articles by Francois Rochon from Giverny Capital, reviewing the basis. http://www.givernycapital.com/assets/documents/136/The_Gazette___An_enriching_strategy_for_quality_assets_jan_2011_.pdf?1295903027 http://www.givernycapital.com/assets/documents/139/High_confidence_humble_approach_happy_investor.pdf?1296567592 Link to comment Share on other sites More sharing options...
stahleyp Posted February 8, 2011 Share Posted February 8, 2011 First time I've heard of this guy. Here is his site and track record for those who are interested. http://www.givernycapital.com/en/rendements Link to comment Share on other sites More sharing options...
Parsad Posted February 8, 2011 Share Posted February 8, 2011 Francois is a terrific guy and good investor. I've known him for several years. Cheers! Link to comment Share on other sites More sharing options...
Partner24 Posted February 9, 2011 Share Posted February 9, 2011 I've known some people from his firm for several years too. They have their niche. They invest mostly in great companies managed by great people for a fair to good price and sometimes keep the shares for a very long period of time. I know that everybody is unique when there no "next something" or "next someone", but even if they are not the same, their investment style reminds me the one they have at Sequoia Fund. I would feel good to put some part of my family's money in their fund. There is not a lot of investment firms in wich I have that level of trust and confidence! Cheers! Link to comment Share on other sites More sharing options...
randomep Posted December 25, 2013 Share Posted December 25, 2013 Hi all, I want to revive this thread. I am really curious about Giverny Capital, their results are legendary (if true). Does anyone have any first hand experience with them? Anyone a customer? Also they have stopped posting any reports after the 2012 annual. Does anyone have any quarterly reports they can post? thanks in advance! Link to comment Share on other sites More sharing options...
jay21 Posted December 25, 2013 Share Posted December 25, 2013 Hi all, I want to revive this thread. I am really curious about Giverny Capital, their results are legendary (if true). Does anyone have any first hand experience with them? Anyone a customer? Also they have stopped posting any reports after the 2012 annual. Does anyone have any quarterly reports they can post? thanks in advance! There was link to an interview from 2013 on the site: http://www.givernycapital.com/assets/documents/179/TWST_04_15_13_Giverny_Capital_.pdf?1386962107 Some of his picks are : WFC, MTB, UNP, and FAST Link to comment Share on other sites More sharing options...
Yours Truly Posted December 26, 2013 Share Posted December 26, 2013 Read his articles on montrealgazette. He writes an article once or twice a month and usually highlights a potential or current holding of theirs and their rationale. Link to comment Share on other sites More sharing options...
randomep Posted March 17, 2014 Share Posted March 17, 2014 Giverny Capital final posted their 2013 annual letter. Wow another year of beating the indicies! Can anyone give me a hint as to what they hold right now? :) http://www.givernycapital.com/assets/documents/184/Giverny_Capital___Annual_letter_2013_web_.pdf?1394797561 Link to comment Share on other sites More sharing options...
PJM Posted March 17, 2014 Share Posted March 17, 2014 His interview last year highlights some of his holdings http://www.givernycapital.com/assets/documents/179/TWST_04_15_13_Giverny_Capital_.pdf?1386962107 Wells Fargo & Company (WFC); M&T Bank (MTB); Bank of the Ozarks (OZRK); Fastenal (FAST); CarMax (KMX); The Walt Disney Company (DIS); Union Pacific (UNP); Berkshire Hathaway (BRK-A) and JPMorgan Chase & Co. (JPM). Link to comment Share on other sites More sharing options...
randomep Posted March 17, 2014 Share Posted March 17, 2014 thanks! Link to comment Share on other sites More sharing options...
learner Posted April 1, 2014 Share Posted April 1, 2014 Hi- I'm trying to read articles written by Francois in Montreal Gazette and they only go back to Jul 2012 (http://www.montrealgazette.com/business/topic.html?t=person&q=francois+rochon). I was wondering if any of guys found some of his older articles? Cheers Link to comment Share on other sites More sharing options...
peter1234 Posted April 1, 2014 Share Posted April 1, 2014 Have you tried this already? http://www.givernycapital.com/en/medias Link to comment Share on other sites More sharing options...
learner Posted April 1, 2014 Share Posted April 1, 2014 Hi Peter123 - Thanks for the response. I actually read all the articles mentioned at http://www.givernycapital.com/en/medias, was looking for the older stuff. Link to comment Share on other sites More sharing options...
vikx01 Posted April 1, 2014 Share Posted April 1, 2014 Does anyone have the redacted versions of their annual reports from 1996 to 2000? I picked up their reports from 2001 a couple of days ago and finished them all in a few sittings. Very high quality stuff. Link to comment Share on other sites More sharing options...
Charlie Posted March 22, 2015 Share Posted March 22, 2015 Giverny Capital released their 2014 annual letter: http://www.givernycapital.com/en/doc/196/Giverny_Capital_-_Annual_Letter_2014_web_.pdf Cheers! Link to comment Share on other sites More sharing options...
Partner24 Posted March 22, 2015 Share Posted March 22, 2015 As always, an excellent letter. Link to comment Share on other sites More sharing options...
crocodon Posted March 23, 2015 Share Posted March 23, 2015 Fantastic letter! Thanks for bringing my attention to this! Link to comment Share on other sites More sharing options...
Partner24 Posted March 23, 2015 Share Posted March 23, 2015 I know then and I can tell you all that they are very classy, disciplined and talented investors. They have that ability to keep their investing style intact in both good and bad times and their strategy work. They are one of the very very few investors that would I trust to manage my family funds if I were to stop picking individual stocks myself. Cheers! Link to comment Share on other sites More sharing options...
mhdousa Posted March 23, 2015 Share Posted March 23, 2015 Anyone know if they take US investors? Link to comment Share on other sites More sharing options...
Phaceliacapital Posted March 23, 2015 Share Posted March 23, 2015 Thoughts on AUM? Link to comment Share on other sites More sharing options...
VersaillesinNY Posted March 23, 2015 Share Posted March 23, 2015 Nice French-Canadian investors who have found their yardstick in the Graham-Buffett-Fischer-Lynch approach. Francois Rochon was an “early” investor in Fairfax from 1996-1999 and again in 2002. He is a friendly guy and a great networker who has met Prem Watsa, Francis Chou and more recently legendary investor Peter Lynch. From its track record, we can appreciate talented skills in analyzing and picking the right companies in order to build a concentrated portfolio. AUM seems to be $80 M about three years ago, definitely higher now. The fund’s management fee is undisclosed. Like many of us, Giverny seems to get ideas from Berkshire. Here are some companies (past & present) in both “partnerships” portfolios: => Wells Fargo, M&T Bank, Union Pacific, BNSF, Wal-Mart, P&G, BYD and American Express. The second important idea generator for Giverny is Sequoia Fund. Here are some companies (past & present) in both equities portfolios: => Valeant, Precision Castparts, O’Reilly Automotive, Fastenal, Mohawk, Omnicom, Google and Wal-Mart. I’m not taking away Rochon’s credit for cloning the right companies at the right time and outperforming the indexes over the long term. Rochon and his team are also innovators who have generated their own investment ideas: => Berkshire, Fairfax, Bank of the Ozarks, Disney, Buffalo Wild Wings, Resmed and many more. As a fund trying to grow AUM, Giverny doesn’t publicly disclose: - its current top 5-10 positions - its returns net of fees - its cash level Therefore, it’s difficult to evaluate the percentage of Giverny’s portfolio originated from in house ideas versus cloning strategy. In this business you have the innovators, the imitators, and the swarming incompetents. Bill Ruane Link to comment Share on other sites More sharing options...
Liberty Posted March 24, 2015 Share Posted March 24, 2015 I would just mention that one could do a lot worse than following the lead of the Sequoia Fund - I have enjoyed their analysis of many companies over the years - though I see Valeant a little differently than they do now. Care to elaborate on your views of Valeant? Link to comment Share on other sites More sharing options...
Liberty Posted March 24, 2015 Share Posted March 24, 2015 I would just mention that one could do a lot worse than following the lead of the Sequoia Fund - I have enjoyed their analysis of many companies over the years - though I see Valeant a little differently than they do now. Care to elaborate on your views of Valeant? Not really. If you don't have anything nice to say....as the saying goes. Actually, it is not that I don't have anything nice to say, I absolutely admire what they have built and what the value that Mike Pearson has created. But I have other thoughts too that aren't positive, so I'll just leave them alone. But negative thoughts is exactly what I was looking for.. :-\ Link to comment Share on other sites More sharing options...
AzCactus Posted March 24, 2015 Share Posted March 24, 2015 I'm sure there's already a thread for Valeant. At this point its probably pretty long. Let's not get derailed. lol Link to comment Share on other sites More sharing options...
Liberty Posted March 24, 2015 Share Posted March 24, 2015 I'm starting to do some research on Giverny and Rochon. Always looking for good places to invest my capital if I ever decide to stop managing it myself (in part or all), or maybe for my wife's. Seems interesting so far. Anyone knows what's the minimum investment in their fund? Sounds like you can only invest through a National Bank account. Is that correct? Thanks in advance. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now