{"id":2840,"date":"2021-01-14T11:11:06","date_gmt":"2021-01-14T10:11:06","guid":{"rendered":"https:\/\/monocle.lu\/?p=2840"},"modified":"2022-05-23T16:12:17","modified_gmt":"2022-05-23T14:12:17","slug":"senscritique","status":"publish","type":"post","link":"https:\/\/monocle.lu\/en\/2021\/01\/14\/senscritique\/","title":{"rendered":"#Critical Sense"},"content":{"rendered":"

The main argument of those who refute the idea of a bubble is that with rates low, stocks are worth more.<\/p>\n

However, a company like SAMSUNG, whose operating results have been stable for years, has seen its share price rise by 80% in one year. Yet Korean long rates remained unchanged at 1.80%.<\/p>\n

So rates are not the explanation. The right explanation is that we are in a bubble.<\/p>\n

So I'm officially launching the hashtag #criticalsense, which I'll use every time I hear this music.<\/p>\n

Incidentally, here's one for John Thornton, the chairman of Barrick Gold - the world's largest gold company. In October 2018, he doubled his stake in the company by buying 2.3M shares for $25 million - a deal accompanied by a press release titled\u00a0\"Ownership is a core element of Barrick's partnership culture.\"\u00a0<\/em>But, when in April 2020 John Thornton sold all the shares he had bought 2 years earlier (doubling the stake), no press release was issued... #senscriticism<\/p>\n

Have a good week,
\nCharles<\/p>\n

PS :<\/strong>\u00a0Good news - if I may say so - for the fund, with the surprise departure of Intel CEO Bob Swann. Of course, an accountant - he was the group's former CFO - is not necessarily the best thing to give new impetus to the world's leading processor group. On this news, the stock gained +10%, allowing us to close our line with a profit of $830,000 since the beginning of the year. Finally, our hypothesis was confirmed: Q4 numbers will be better than expected.<\/p>","protected":false},"excerpt":{"rendered":"

L\u2019argument principal de ceux qui r\u00e9futent l\u2019id\u00e9e d\u2019une bulle est de dire que les taux \u00e9tant bas, les actions valent plus cher. 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