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Mensuel de décembre 2016 - Fonds / Bourse

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Is the comeback of Value Investing made to last ?
By Léon Kirch, CIO, European Capital Partners   Equity Management is divided into two main styles whose merits are often con-fronted: the Value style focuses on the company’s intrinsic value as well as on its capacity to generate earnings with its current production capacity. At the opposite, the Growth style centres its attention on the future development opportunities of companies. Over time, these two styles of investment have alternatively competed for the favours of investors.   Mark Twain one’s famously said: “History doesn’t repeat itself, but it does rhyme”. As long-term investors, we have the luxury to take a step back and analyse the current market conditions in an historical view. This is, from our point of view, a key strength as it helps us...
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