We Study Billionaires - The Investor’s Podcast Network TIP709: The Art of Long-Term Investing w/ François Rochon
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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.
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Treat Partners Well
- Treat investment partners like you would want to be treated.
- Provide ample information and be transparent about the portfolio's performance and strategy.
Client Alignment
- Pleasing clients isn't always the right move in investing, sometimes requiring going against their wishes.
- Aligning incentives by investing alongside clients builds trust and facilitates long-term focus.
2024 Market Performance
- 2024 was generally a good year for stock markets globally, exceeding average index performance.
- However, US market returns were heavily driven by large-cap companies.