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CFR

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warhippo
Super Contributor
Richemont beginning to look attractive to accumulate at these prices for the longer term in my opinion. (Europe and China wealthy people still like their products.)
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18 REPLIES 18
BC02
Super Contributor
Agreed, not quite sure why theres such an over-reaction with Burberry's news. China and most of Europe still showed good growth (Beijing showing double digits).
Im quite sure holding 5-10 years this is still going to be a great investment.

Like they say...buy on the dips
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sponono
Super Contributor
20% correction from all time high will take it to 4123 which normally means a bounce is now due.
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warhippo
Super Contributor
Just wish the price of their Panerai watches came down by 20% (ha,ha)
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partridge
Super Contributor
Burberry make clothes. CFR 's business is 75%jewelery and watches. If they secure the production input sources and expand that to become a supplier to other makers they will be headed one way. Thank goodness for diverse views on desirable watches. Panarai!!?
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partridge
Super Contributor
At the risk of stating TCBO. They have been attractively priced for some time.
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warhippo
Super Contributor
Yes, just for the sake of chatting. Panerai watches - one of most prestigious and longest established Swiss watch manufacturers. I think bought by RCH in late nineties.
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Franksays
Frequent Contributor
I peronsally bought some today for the long term. Same line of thought. Have been waiting for this to come off some time as it has always seemed very expensive.
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sponono
Super Contributor
what's your stop loss or maybe you dont use them
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warhippo
Super Contributor
Not sure about Franksays, but I dont trade. Been just accumulating. Maybe still down potential in it as well, but who knows. Good numbers, cash, smart people at the helm..
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partridge
Super Contributor
Warhippo - I collect watches - I just don't like Panarai. What is important is that CFR bought maisons like Panarai at a good time. The key point in this whole thing is that manufacturing supplies for watches and jewelery is a major under pin of these busineses and getting your vertical integration pitched correctly is going to be a business growth trigger = or the opposite. I suspect you do not want to be a major supplier of watch parts and movements -with the attendent overheads : when things are slow...hard to call.
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Franksays
Frequent Contributor
I dont trade, so no stoploss. Long term view.
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warhippo
Super Contributor
Agree. Tell us more about your collection of watches - especially any older models and do you have them regularly attended to and who does it for you?
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partridge
Super Contributor
At the risk of boring everyone - which is a particular skill often evidenced on this site. There are a whole load of criteria to look at ( sounds familiar) If its from one of the "big 5" then it invariably qualifies as desirable - in fact will probably have a set exchange rate price. If it has complications then that is a plus and if it was produced in limited numbers or represents a particular sporting link -motor racing for example - then ditto ditto. Some guy found TE LAWRENCE's IWC watch which he had when he was in the air force - bought for a song sold for a fortune. Fact is its like cars - always buy the entry level car of a leading brand vs the top end of an aspiring duff brand. Oh yes , Jaeger le Coultre, IWC , Rolex. All vintage.
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sponono
Super Contributor
Ok folks.
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warhippo
Super Contributor
Thanks for that and very interesting hobby and view. (If my understanding is correct, Jaeger-LeCoultre has been a fully owned subsidiary of Richemont as well?) Jaeger-LeCoultre also has a long tradition of supplying movements and parts to other prestigious watch companies in Switzerland.
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CHATTYCHAT
Super Contributor
What about "Hamilton"? :-)
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kwagga
Super Contributor
Have you got an electronic watch winder ?
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partridge
Super Contributor
3G down in the South Western Districts- good old Vodacom - masters of client relationships ( still a buy ) just got back up on Sunday. JleC as you say is a subsidiary of Richmont. Hamilton? - fun but that is it I think. There is always money in quality - plus what you get with quality...pleasure
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