Category Archive

In his 2020 Giverny Capital Annual Letter, François Rochon explained how on April 20, 2020, a bizarre event occurred in the financial markets when the price of West Texas Intermediate crude oil futures for May delivery plummeted from $18 to -$37 per barrel. This unprecedented situation, where sellers paid buyers … Read More

In this interview with The Investor’s Podcast, Francois Rochon discusses the inevitability of significant stock market drops, noting that most stocks, including Berkshire Hathaway, have experienced 50% declines. He highlights two major market downturns since he began investing 30 years ago: in 2001-2002 and 2008-2009. During the 2008-2009 crisis, despite … Read More

In this interview with The Investor’s Podcast, Francois Rochon discusses his theory about a “missing gene,” suggesting that most people possess a “tribal gene” hardwired from prehistoric times, when immediate conformity—like fleeing from a predator—was vital for survival. This gene prompts most individuals to follow group behaviors instinctively, particularly under stress … Read More

In his latest 2023 Annual Letter, François Rochon explains why trying to time the market is a futile exercise for investors. While some may be tempted to avoid the market due to economic fears, he emphasizes the importance of long-term ownership in quality companies, regardless of short-term fluctuations. Here’s an … Read More

In his 2021 Annual Shareholder Letter, François Rochon compares successful portfolio management to art, suggesting both require individual vision and creativity. He criticizes group decision-making, citing Buffett’s opinion that it’s like “looking in a mirror.” Like artists who avoid complacency after success, good investors need to balance two seemingly opposing … Read More

During his recent interview with Compounding Quality, François Rochon explained why taking profits isn’t bad, but it won’t lead to immense wealth. He emphasizes the importance of holding onto winning investments for significant returns. A few big winners can transform your investment journey. Here’s an excerpt from the interview: Q: … Read More

In his recent interview with Compounding Quality, François Rochon believes that stock prices tend to follow the Owner’s Earnings of a company in the long term. Owner’s Earnings is a measure of the intrinsic value of a company, calculated by adding the growth in earnings per share (EPS) and the … Read More

During this interview with Best Anchor Stocks, François Rochon discussed building a portfolio, trimming, and the right position size. Here’s an excerpt from the interview: Rochon: Probably in my younger years I was more confident in my decisions. So probably I could start with 4 or 5 or 6% in that … Read More

In his recent interview on the RWH Podcast, François Rochon explains why you should write down your three biggest mistakes every year. Here’s an excerpt from the interview: Rochon: Well, I think it keeps me humble because you don’t have to search very hard to find mistakes you’ve made. But … Read More

In his recent Master Series interview, Francois Rochon discussed a number of topics including his investment edge, tech stock valuations, Berkshire, and how you can miss out on some great buying opportunities by being too precise on valuation. Here’s an excerpt from the interview: Year after year what I realise is … Read More

Here’s a great interview with François Rochon, from Giverny Capital, on the What Got You There Podcast in which he provided some great insights into why investors need humility, patience, and rationality. He also discussed why investors sometimes have to break their own rules saying: I remember it many years … Read More