Category Archives: Collectors Corner

Collector’s Corner 2: Robertet SA

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This is not investment advice. PLEASE DO YOUR OWN RESEARCH.

Finally, after more than 18 months, I found a second candidate for my “Collector’s Corner” bucket after Laurent Perrier. Just as a reminder, the purpose of this bucker is as follows:

So here is the management summary and the write-up (which is a little bit “thinner” than usual.

Management summary

    Robertet, is a 175 years old, 1,8 bn EUR market cap French company, owned and run by the Maubert family in the 4th and 5th generation that is active in natural flavors and fragrances. Although much smaller than its larger peers, Robertet is the leading player in natural/organic ingredients which they source globally.

    The company has grown EPS by >10% for the last 5,10 and 20 years. Although not cheap (~19x 2024 EPS), the stock is in my opinion nevertheless attractive as there seems to be a good fundamental tailwind and the business is very stable and diversified with decent margins. I therefore decided to add it to my “Collector’s Corner” bucket next to Laurent Perrier with a 2% allocation.  

    Robertet PublishedDownload

    Collectors Corner Series Part 1: Laurent-Perrier SA (ISIN FR0006864484)

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    Disclaimer: This is not investment advice. PLEASE DO YOUR OWN RESEARCH !!!

    Collector’s Corner Introduction

    I always wanted to introduce this category of stocks that normally I would not buy as a larger position, but for some reason or the other I want to own nevertheless. Many of such stocks I had passed on in the past and they often performed better than I would have thought. So instead of a typical Investment portfolio, that part would rather be a “collection of fine stocks” and this series will therefore be the collector’s corner. The goal here would be a small pocket of “special” stocks that might look not so attractive from a purely financial perspective, but still have are attractive to me. This could be luxury stocks but also some very strange stocks that I find interesting for other reasons. I am now long enough in the stock market that I cannot afford myself a few “guilty pleasures”.

    I don’t have a target allocation here but this should stay below 10% overall at portfolio level. Also, don’t expect a super detailed analyis as with bigger positions.

    And, by coincidence, I already have the first stock for the “collector’s corner:

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