LVMUY
LVMH Moet Hennessy Louis Vuitton SA ADR
Mentions (24Hr)
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Interesting how 2025 is playing out if you took Barron’s advise
What are your thoughts on on Louis Vuitton Moet Hennessy (LVUMY)
Why do you think Warren Buffett hates Nike stock ($NKE) so much?
Follow up: the "White Girl Index" posted here in 2018 had annualized five year returns of 17%, trouncing the S&P 500 and BRK.B
LVMH posts record revenue, shrugs off succession question (OTCMKTS:LVMUY)
LVMH Moët Hennessy ADR / question about French WHT
Other than Apple and Microsoft, what earnings have impressed you the most so far?
Other than Apple and Microsoft, which earnings have impressed you the most so far?
Mentions
I'll answer both you and OP. For OP: The data is not fully clear or complete as it doesn't include both open and close prices. Merely percentage change to "base". But what you can draw from it is that escalator down mechanism vs slow climb upwards (more downward dots past -4 and the blue dot past -10). Can't say for sure without much more info but it's mostly that and psychological number points of breaking past round number hurdles for both humans and algos. TL;DR Either way you won't be able to milk any alpha from it. For you: 1. Stay long. Ignore 🌈🐻/Kramer. 2. Avoid BTC/GLD pump if scared. Hold a bit of ST cash like Buffet/Dalio/Trump. 3. Everything in the markets are overvalued but I'm allocating to AXP or LVMUY outside of my monthly DCA into VOO/IWM. I think they might still have legs going into the end of the year. Proof? None really. [I did say to buy BLK like month ago and it has been up +17% since.](https://old.reddit.com/r/wallstreetbets/comments/1ueagt6/disregard_private_credit_liquidity_tests_acquire/) Don't listen to folks online.
I remember but I didn't buy even though I believed in Alphabet because I was heavy over weighted on google already. Diversify they said. So instead of jump pumping more cash into mag8 I bought stuff like CHRD, VOO, LVMUY, AXP, IWM/UWM/TNA, and BOXX/SHY.
#TLDR --- Ticker: MC.PA / LVMUY (LVMH) Direction: Up (Long-term) Prognosis: Buy shares for the long-term recovery. The company is protecting its luxury moat rather than chasing short-term optics. Despite current China headwinds and margin compression, DCF fair value points to ~€677 vs current €499. Patience Required: High (Expect a stagnation phase until 2026, diamond hands needed) OP's Skin in the Game: 40 shares (Literally holding the designer bags)
Which luxury brands are doing well right now? PRDSY is down 17%YTD, LVMUY is down 23%.
Schw, ssnc, SEIC, fds, LVMUY, axp.
You want some actual advice? Sell lulu and buy LVMUY and hold it for a couple of years. You'll make your money back and more
Thanks for the detailed game plan. But why me? I've been selling cash covered puts and sipping some of the dip. AXP, BLK, and MSFT. Thinking about LVMUY/BAC/IWM too. Tried to sell SVXY puts but no one bit.
Americans actually had the lowest inflation, the most energy security, the least food insecurity, the most insulation from global chaos, the cheapest natgas AND gas prices, the best performing stock market (NVDA by itself was worth more than the marketcap of most of Europe or China/HongKong/Macau COMBINED), the strongest GDP growth, the strongest labor market, and the strongest currency by which they could use to offset inflation via travel/import. But folks here acted like we were the little starving fucking Gazan kids or freezing Ukrainian kids getting their limbs blown off by missile/drone strikes. The "vibe-cession" and "Gaza is SPEAKING!"^(notice how all those mofos disappeared day 1 after Trump took office even though shit got worse for Palestine?) Anyways: Fuck around, find out. Do dumb shit, get dumb prizes. Vote clown, get circus. Since we're WSB and not r/politics : I'll won't short the USA. Much easier to just short the dollar since GDP/inflation/devaluation/deficits are not likely to decline due to the huge national debt. Light/secured borrowing, go long assets, and diversify. SSO, UWM, VT, LVMUY, AXP, SCCO, SHEL, gold, RE if you can afford it, healthcare, financials, treasury notes or short-mid bonds (no long bonds), and the like.
Or just don't play momentum..... I've just been keeping my short note USTs around 10-15%. Extra money had been going into things opportunistically: energy (SHEL/CHRD), small caps, LVMUY, and select financials like AXP/BLK. Recently added to MSFT. Just don't buy what's being hyped by WSB. Remember kids, some folks are actually born with lower IQ, stunted mental development, and/or a mental health condition. But folks on WSB? You guys can CHOOSE to be not be retarded. Every day. Like just be ~~yourself~~ not retarded.
Bought AAPL and DECK. Planning to buy RDDT and LVMUY.
And now NVO shits the bed. That’s UNH, SE, MSFT, LVMUY, and now NVO for me. Thankfully ASML’s post-earnings hit wasn’t too bad. And NXT did well. Brutal market/business outlook right now…
Already a played out theme. I bought LVMUY on that premise like 10+ years ago. Doesn't mean it can't keep going but a lot of that is priced in. Recent cut from around $200 to $100 was because they were overexposed to China/EastAsia where Mainland is getting BTFO going through it's own GFC, Taiwan is a risk, Japanese Yen weakness means LVMUY stuff is too expensive for Japanese, etcetcetc. Going forward LVMUY is a recovery play in the short run and an India/SEAsia middle class growing their "aspirational consumer" segment.
Great way to ensure you keep your money and sanity. I have sister. She's married with a kid so she spends her money on diapers. p.s. OP is right about the K-shaped economy, but a better choice for that play is AXP, LVMUY, DAL, AAPL, TPR, or BLK. Most of those have ran up massively already. One quick google search shows that Aritzia is Canadian which immediately means it's a meme and OP is just shilling his own book.
Individual tickers in my roth at <5% of account: SBET, LVMUY, MSTR, NBIS, REIT (yes, this is the ticker), IONQ... Looking to add: INTC
I'd give you a bit more credit than that. Not many would/could have done what you did. I, for example, graduated into the GFC, could barely get good work despite having a good college degree, still I was lucky enough to have work, not many saved nor invested back then but I did what I could, and I made some good investments (GOOG/LVMUY) but also bad ones (T/INTC) instead of just indexing and chill despite being a fan/student of Buffett. I didn't start indexing and index leveraging until the pandemic dip. So congratz & fuck you, but make sure to pat yourself in the back. p.s. I read your other posts about why you're getting out now, but what are you going to? Just deleverage into 60/40 VOO/SGOV? All into BOXX/SGOV? 3/7/10/20/30 yr bonds? Gold? Just taking cash and going to Thailand?
I kept thinking about buying LVMUY at 122 and never did. Smh.
LVMUY champagne sales are going thru the roof
Even better at $42.00 p.s. real investors would like a stock as it drops, but most WSB regards are just there for the trade with no DD and going all in if not also leveraged out the ass on 0DTEs. I've been buying that LVMUY dip while watching TPR rocket upwards. Shit will reverse eventually (at least my retarded ass thinks so).
I wouldn’t buy lululemon or any other high priced retail brand right now. Not even LVMUY is doing well.
Gradually buying a bit of NVO for a trade. Not bullish on it returning to the growth story it has been and continue to prefer other names for obesity theme, but the selling is excessive at this point and it's technically very oversold. LVMUY would be interesting if it gets to $100. The railroads are kind of interesting - CP in the low 70's, CSX as if (again, *if*) UNP is allowed to buy NSC, BNSF might take a look at CSX. Some life science/CRO names seem like they're finally turning a bit. I like TTWO in the low $220's (or less) with GTA VI next May. Is there anything that I'm excitedly buying atm? No. The stuff that is very hot I've been trimming a bit and there's some mildly compelling stuff in terms of what's been out of favor, but nothing particularly thrilling.
NKE, SG, LVMUY, & FWONK look interesting
That’s absolutely certainly not the case. UNH and LVMUY are some that are far from ATHs (unless you’re using recency bias to judge what’s truly “quality”)
NKE, LULU, LVMUY, pick one imo and run with it. This is the age of concentrating conglomerates. They offered you a dip on a seemingly “no one cares” industry. They’re going to start printing money.
You have to price in the inevitable divorce and then her unloading her shares. LVMUY calls now!
Yeah. I hold LVMUY bags. What of it?
See all the other replies, case in point. I’d recommend LVMUY now if you want to get into a diversified giant whose undervalued
LVMUY follows similar story to many other companies in the past 5-6 years. They saw increase in sales/profit during the initial phase of the pandemic. The stock went up in part due to increased performance and in part due to future expectations of sustained growth. While LVMUY has been able to sustain that increase, they haven't been able to grow it and all of a sudden the stock lose it's "growth multiples" as the performance has flatlined. TGT is another example. You will see all of this reviewing their 10K's. It's not hard to see what may have happened with LVMUY - limited leisure options so they get a bigger part of the spend. As more leisure options return/re-open, they get less of the spend. LVMUY is a great company with many strong brands. I think the stock is worth holding for the long term. But it's unrealistic to expect consistent growth. For that you really need to be in spaces that are essential to business or personal life.
I get what you’re saying as far as international stocks goes, but RNMBY has 3x in the last 3 months so I don’t think it’s a good buy rn. I’m currently more bullish on NVO and LVMUY as their share prices are still depressed imo. I also like FSPSX.
An S&P 500 index fund or individual companies? The former is typically positive over 10 year periods and longer, the latter varies widely. Losing all of your money doesn’t usually happen with large caps, but losing half is possible. Doubling is a matter of luck with individual companies. Over the past few years, LVMH (LVMUY) has fallen, Trane (TT) has been a rocketship and AirProducts (APD) has gone nowhere. I didn’t buy Nvidia (NVDA) until after most of its gains.
Delist/unlisting stock is not a ban on being able to own a stock. So shouldn't be an issue buy stocks in other markets from brokers, they usually charge a small fee for managing the stock, at least from my experience. Source, I owned LVMUY through Schwab.
All it means is BRKA stock has been more durable than the others held by the other list members for all of 3 months. If you were to zoom out 5/10/15/20 years he's losing out by a wide margin to over half the list. And I would imagine BRKA loses to ORCL/LVMUY in the long run, perhaps even WMT.
RHM are the actual shares on the Frankfurt exchange. RHMB is an ADR also trading on Frankfurt that represents 1/5 a share of RHM. The closing price doesn't match up exactly just due to liquidity - probably one is much more heavily traded than the other and the lighter volume would have bigger bid/ask spreads. I am more familar with European stocks trading as an ADR on the US exchanges - the idea is to let US investors purchase shares of European companies in USD and without need any type of international account and currency conversion. LVMH for example has a US ADR with ticker LVMUY which represents 1/5 a share of the stock traded in Paris. As a person in the US, I buy 5 shares of LVMUY which effectively gives me rights to 1 share of LVMH stock held by a sponsoring bank. Perhaps the RHMB ADR is meant for cross border transactions, even though the currency is primarily EUR. Let's say in DE, you'd buy RHM; but outside you'd have to buy RHMB.
I only buy individual stocks. LVMUY, ADYEY, SRAD, BABA, TCEHY, TOITF, uhhh there’s prob a few more. Frankly, 1 year and 3 month time horizons don’t mean much to me. I completely understand that US tech has dominated the last 15 years but it doesn’t mean that will continue going forward. It might, and I certainly own a lot of US tech, but you simply can’t predict the future.
Saw something similar with LVMUY after close yesterday.
Your Top Performer: ORCL Your Biggest Flop: LVMUY Biggest Surprise: TT Sector MVP: Information Technology Most “Played” Stock: LVMUY
Added to my LVMUY holdings long term. Bought 1.5k$. I'm too concentrated in the US. Trying to find other opportunities here.
> Anything interesting as far as value goes? Obliterated large cap biotech (REGN, BIIB), European luxury (primarily the highest quality - LVMUY; a lot of the rest is a hope for an uncertain turnaround in things like Burberry and Kering), alcohol (REMYY, DEO, etc), refiners (MPC, VLO - although less so than a couple weeks ago) and some Canadian stuff (Stella Jones down close to 30% recently and some insider buying - https://pbs.twimg.com/media/Gc8kZGnaAAQTMO0?format=png&name=900x900)
I started this August mostly by finding stocks I believed in like RKLB, LUNR, ASTS, OKLO, SMR, and NVDA and buying low, selling on high for quick hits. Losses on LVMUY I made +500 off 16 small trades. I think I'm learning a lot, but these stocks are getting too big for my small cash pile so I need to find new, cheap winners (and be right about them again) and restart this process this time with a slightly larger pool. Does this sound normal/reasonable for someone starting with a small cash pile? Also reading 'Random Walk on Wall Street' Do you have any recommendations to learn?
The value strategy hasn’t panned out for me this year. I’ve underperformed since July. I feel like the CRWD event was the first domino. MSFT, ASML, LVMUY, and NXT have all been laggards for me since then
LVMUY continues to bleed, sheesh
at what point would you guess the economy could become trash next year? and do you think there'd be enough warning to sell a stock like LVMUY? i'm trying to figure out what price i wanna get in on haha
What a beautiful way. Not only is an anti-regulation megalomaniac going to be in power now, but basically all of my stocks are down (ASML, NXT, TGT, LULU, LVMUY, SE). Fun times
Sold 2k worth of Kweb for $450 profit. still hold 6k of kweb. China has been pretty vague with the stimulus and the 20% tax on foreign holdings will do the opposite of its intended effect. Bought 1.5 k of LVMUY for an initial long term position.
LVMUY is the American ticker for it.
I’ve been buying LVMUY through Fidelity. There’s a small fee but otherwise no issues.
You can: 1) Buy the ADR - LVMUY. ADRs often do have very small fees associated but I'll guess you won't pay a trade fee. 2) Buy the foreign ordinary share - LVMHF. Fidelity will probably charge you $50 to buy or sell, which is absurd. 3) Buy the share class in Paris via Fidelity, but you may have to call to enable international trading. You will have to convert dollars to EUR and there is a trade commission. According to Fidelity, trading on the Paris exchange is $19EUR. Generally w/Paris, there is also this: Financial Transaction Tax: 0.30% of principal on purchases of French securities, including ADRs
#Oh nonononono! China not doing good? What will we ever do?!?!?!? Buy their even cheaper products as their deflation forces them to try and sell shit cheaper to us via TEMU/Shien to offset our inflation??? KNEEL has their real estate market collapses because our investors are ~~exposed their shit SCAM of a fraud called """real estate""" where you don't own any land or rights but you're technically buying 100 year leases and apartments built on those 100 year leases that the CCP might not even renew if they don't like you or your cousin posted a meme that pissed of Xi's daughter's friend's dog?~~ NOT EXPOSED BECAUSE THE CCP DIDN'T LET FOREIGN INVESTORS IN? CRY as their stock markets (Shanghai peaked in 2007 and Hong Kong peaked in 2017) ~~CRASH TO 0 AND GO BANKRUPT?!?!?!?~~ THAT WE HAD LIMITED OR NO ACCESS TO (limited in the case of HK. 0 access in the case of Shanghai)!??!?!?! Or maybe we'll cry as China cuts rates or deflate their Yuan WHICH WE ALSO DON'T HAVE ACCESS TO?!?!?!? LOL no. 0 fucks given. China doesn't even buy that much from us. China didn't allow anyone into their markets because they were protectionists cunts and now they reap what they sow. Only ones getting fucked are those who went out of their way to get access to China like Dalio or companies overly reliant on China like NKE/AAPL/LVMUY but even those companies are quickly looking for the exit along with the next market (SEAsia and India).
MSFT and ASML are pretty large positions in my portfolio. NXT and LVMUY are also up there. Thankfully UNH helped a little
would you mind telling me which version of the stock is better for north americans to buy? LVMHF seems to require a brokerage with annoying fees and requirements, but LVMUY is more like buying a normal stock but it just has lower dividends? i'd also like to know your updated opinion on the stock in relation to the potentially-soon recession lol
would you mind telling me which version of the stock is better for north americans to buy? LVMHF seems to require a brokerage with annoying fees and requirements, but LVMUY is more like buying a normal stock but it just has lower dividends? i'd also like to know your updated opinion on the stock in relation to the potentially-soon recession lol
Just bought my first trench of Visa, MSFT and LVMUY
.... Uhhh.. Yeah! Sure! For "Costco"! *Looks at portfolio with SGOV, BIL, BOXX, TMF, JNJ, ENR, T, LVMUY also green with SLV neutral.*
Who really knows? I was an INTC fanboy back when Intel Pentiums were the shit. Bought because I liked the stock and like long term investing. Maybe I just don't want to admit I'm wrong, maybe I'm the type of regard who likes doubling down, maybe I want to see it through, maybe I keep holding out hope that it might be up by the time I retire in another 20-30 years, maybe I'm more into sadistic pain than my conscious mind accepts, or maybe I keep it as a reminder to be humble and that for every GOOG/LVMUY with massive gains I have shit like INTC and T.
MSFT, ASML, LVMUY and maybe LULU
It sucks for me. INMD, NXT; plus you got the retail/luxury names like LULU and LVMUY. My tech stocks are just keeping me in the same range for a month now
I’m buying the dips on LVMUY and PPRUY 😬 hoping good things for us both!
Feels a bit like cope, but I'm all for it. Let the NKE shareholders have their group counseling session. I hope NKE does well. Sold some cash covered puts at the $65 strike AFTER the -20% dip (lel for the folks that did before). Will sell more at the $60 strike if goes lower next week. I'll even start buying with my non-options cash and/or maybe sell my TPR (my apparel side bitch with LVMUY as my main) to swap into NKE. I think it's mostly a China weakness issue. The China stocks also fell the day and the day after NKE reported so clearly there is a link there. Whether China recovers or not, NKE has already planned and will eventually expand new markets (ala SEAsia and India). I hear some rumblings of competition but Lulu/Adidas/Reebok/UA aren't exactly soaring either. Asics looking like an AI stock tho. Also I hear some sneaker heads seem burnt out or upset with the shoe game but I think it's a cyclical thing?
Louis Vuitton - LVMUY. It's down about 20 percent and trading at 2021 levels. Buy a position now and buy more on weakness. You will be very happy in a year or two.
> Sephora can't be bought It can. I own LVMUY over ULTA partly because they own Sephora. Sephora has been crushing it while ULTA has been struggling.
SPGI AMZN LVMUY WCN TMO LRLCY CP SHW These are the companies I would be ok with locking in for 20 years. I currently own them all and know them very well. Some will do better than others but over 20 years I suspect I will come out alright.
Right now I'm at: 50% BRK.B 20% MSFT 10% AMZN 10% COST 10% V I'm wondering if I should add a couple more stocks over time and maybe trim down brk.b to do so? Looking at the following but haven't settled on them yet: CAT LVMUY WM
True. Every once in while, you get a stock like NVO, LVMUY, and SPOT but those are exceptions rather than the rule. Even so, I can’t think of one buy and hold forever European stock.
Might slide into some RL, America's answer to LVMUY
So you should be able to buy the actual French shares on Robinhood but most big companies have American Depository Receipts (ADRs). For example, the Hermes ADR ticker is HESAY. LVMH’s is LVMUY.
I'll read about LVMUY this weekend, thanks for the suggestion.
Just buy LVMUY instead of ULTA. Read their earnings report from yesterday. Selective Retail (the group that includes Sephora) was up 11% for the quarter. Continuing to grow store count and market share. Perfumes and Cosmetics group also performed great, and more and more of these products are being sold at Sephora retail and DTC.
I get interested when stocks on my list are are between the 250 day support and the next support line down. I watch for momentum by applying the three-day rule within that limited channel, ideally the candles are getting shorter each day to show dying sell momentum. Based on your list, here are some notes for the ones that are also on mine: - APPL: 164 to168. - ADBE: 413 to 480 - LVMUY: 145 to 164 - UNH: 445 to 454 Others on my list that are getting there, some outside of their 250 day supports because I missed a run-up. - AMGN: 260 to 269 - HON: 185 to 198 - JNJ: 148 to 152 - TGT: 152 to 163 - SBUX: 83 to 86
I’ll say it again, buy LVMUY and be a Sephora enjoyer.
I love LVMUY, been holding years and it’s performed very well. Also check out MEDPACE
Here's the makeup of my portfolio at close today: 34.01% -- $VOO 12.64% -- $LVMUY (LVMH) 11.56% -- $AXP 11.47% -- $DTE 10.00% -- $CROX 5.83% -- $FSELX 5.69% -- $H 4.32% -- $KO 3.63% -- $SCS I try to play it safe with two thirds of my portfolio: a minimum of 33% of my portfolio stays in VOO, and I try to keep another \~33% in stable blue chips like AXP, KO, and LVMUY (LVMH). That last third gets split up between between stable speculative plays (DTE and SCS due to yield with some strong upside potential as well) and more volatile speculative plays like semi-conductors with FSELX, retail/apparel with CROX, and luxury and business travel with H.
LVMH is not the ticker but the name of the company (full name is actually LVMH Moet Hennessy Louis Vuitton so the names are switched in the acronym). It trades as MC on French exchange, it's also listed as MOH on Frankfurt exchange. It's not listed on US exchanges, LVMUY is OTC ADR. If you don't have access to the French / German exchange, look up [ADRs](https://www.investopedia.com/terms/a/adr.asp) and [OTC trading](https://www.investopedia.com/terms/o/otc.asp). I own ADRs of some companies that are listed on US exchanges, but I'm not sure about OTC ADRs, so look up how much it costs and what are the risks.
Is that the same as LVMUY? Can never find LVMH on my brokerages
gonna get new bags today. LVMUY is good right?
I like vicariously through the shares I buy. RACE, ALK, LVMUY and MTCH
I prefer LVMUY but they and Hermes crushed it while Kering ... not so much.
That was a great read. It was “if he had to hold a company for 50 years what would it be” and he chose L’Oreal in large part for its diversification. https://www.valuewalk.com/own-loreal-sa-generation/ I’ve always been more of an Arnault and LVMUY fan, and Hermès’ financial statements and operating margins are some of the most desirable I’ve ever seen, including mag7. Comparatively I’m concerned about Loreals high Operating Expense which has ballooned quite a bit since 2020 without the matching increase in revenue that one would expect. I’m betting on the success of all 3, but if Hermes was cheaper it’d be my top pick.
Other than tech. Healthcare and retail. I made TMO + HCA 12% of my portfolio last year and both now up 25%+. As for retail. COST, ULTA, AMZN and LVMUY have been doing so well for me for a long time. RIght now I got my eye on ACN, CF, CROX, TPH.
These are all good talking points but none of them speak to why this makes Ulta a better proposition than Sephora, which is also great across all these metrics. I do look at Ulta from time to time but am not convinced it’s a better investment (but a decent one regardless, esp. in the 14-15x range) If I had to choose one, I would definitely pick Sephora over Ulta, but why would you decouple it from LVMH? They have awesome synergies selling beauty products from their luxury brands. The Sephora unit of LVMUY was the best performing business segment - up 25% YoY to $19.4 billion. Check this out: https://www.glossy.co/beauty/sephora-is-a-bright-spot-in-lvmh-2023-earnings/ Ulta has 1300+ stores in the US and limited growth opportunities considering no international footprint or international growth plans. PE of 20x. Remember how the Canadian expansion plan crashed and burned? Sephora has 2700 locations worldwide. Sephora also a great rewards program, a store credit card, has in-store salons doing beauty and makeup services including free makeovers, etc. I’m not saying Ulta is a poor investment choice, I’m just saying LVMUY is better overall. In my opinion.
Ulta has an incredible stickiness due to their best in class loyalty program. More and more people are gravitating towards Ulta for this reason. They just now how to reward repeat customers and are bringing in brands like Lush that will further expand their reach in niche consumer bases. Aside from that, Ulta generates exceptional returns on capital invested, returns on equity, and it's operational margins allow it to hold better pricing power. Ulta's wide product mix allows it to hold customer's from different income levels who are looking for either of high end or drug store beauty products. This is excellent positioning for them if they ever want to expand overseas. If you ripped Sephora out of LVMUY's conglomerate, would you invest in the standalone entity over Ulta? Interesting question to ask yourself.
They crushed it. The Sephora unit blew it out … and yet people buy ULTA over LVMUY lol.
[Bull-ish. Overweight, but not much imminent earnings growth.](https://www.wsj.com/market-data/quotes/US/OOTC/LVMUY/research-ratings) *EPS* (Note: $LVMUY = 1/5 of an LVMH share) 2023E: $31.85 2024E: $32.80 2025E: $39.53
Did you buy LVMUY? Or LVMHF? Or are you located outside the U.S.? I've been contemplating purchasing some shares but unsure between the two.
Blows my mind when someone invests in ULTA over LVMUY though …
Tesla (TSLA )\~44% LVMH (LVMUY) \~29% Kering (PPRUY)\~ 12% Estee Lauder (EL) \~6% Essilor Luxottica (ESLOY)\~ 6% Aritzia (ATZAF)\~ 2% Nike (NKE) \~ 2% Short: On Holdings (ONON) \~ (-2%) Notes: Increase shares held of TSLA, LVMH. I expect significant FX tailwinds for LVMH, Essilor Luxottica, and Kering to continue to be strong through 2024. Emergence of BYD as Chinese primary competitor to Tesla will continue to drive capital inflows as US looks to compete vis a vis. Chinese consumer outlook towards domestic makers and flagship and luxury-branded foreign makers remains stronger than expected according to my research. Loosening of Chinese benchmark lending rates expected in 2024 Continue to be short ON Holdings with equivalent amount held long of NKE