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TIP709: The Art of Long-Term Investing w/ François Rochon
Mar 28, 2025
François Rochon, founder of Rochon Global Portfolio and Giverny Capital, shares his insights as a long-term value investor with a remarkable average annual return of 13.6%. He emphasizes the importance of purchasing great businesses at fair prices and views stock market volatility as an opportunity, not a threat. Rochon delves into his investment strategies, discussing why Giverny Capital remains fully invested and explores core positions in Booking Holdings and Brown & Brown. He also highlights the significance of transparent communication with clients and risk management.
01:08:44
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Quick takeaways
- François Rochon emphasizes that investing in great businesses at fair prices and maintaining full market investment is essential for long-term success.
- He highlights the importance of treating investors as partners through transparent communication and annual letters, fostering trust and alignment of interests.
Deep dives
Long-Term Investing Philosophy
Buying great businesses at fair prices is key to long-term investment success. The approach emphasizes maintaining full investment in the market rather than attempting to time market fluctuations, which Rochon describes as a fool's errand. He believes stock price volatility should be viewed as an opportunity for investment rather than a disadvantage. By remaining in the market continuously, investors can benefit from the intrinsic value growth of their holdings over time.
