LT Value

The wikifolio LT Value aims to create a mix of quality companies and hold them for the long term. Following the principles of value investing, the key investment criteria can be identified in 4 categories: 1. Business criteria: The company must have a lasting competitive advantage, a consistent operating history and a business that I can understand. 2. Management criteria: management must operate rationally, with integrity and honesty. Demonstrate capital allocation skills and consider shareholders as partners. 3. Financial criteria: the company must have a high return on capital given by a mix of profitability and efficiency. 4. Market criteria: The price at which the entire business can be purchased offers a reasonable margin of safety over the estimated intrinsic value. Should the company no longer have the characteristics listed above or should a better opportunity arise, the position will be liquidated. The risk is not given by volatility but by the permanent loss of capital and is directly linked to the intrinsic characteristics of the company. Short-term investments can occur if an opportunity arises. The creation of long-term value for me and for those who want to be my partner remains my main commitment.