Wednesday, February 26, 2014

Bought Kering

Bought 117 shares of Kering @ 153.35 Euros on 18/Feb/2014.  Cost in SGD is 31936.34.

Will write up later.  Kering is the only Luxury company trading at a reasonable (but not cheap) valuation of 14X earnings.  Their main brand Gucci is out of favor right now.  Long term investment.  This is half a position.  Would buy more if it drops to 120+.

Shares are directly managed to avoid counterparty risk.  Held through CACEIS.

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