🧠Learning from Mistakes (LVMH Investment)
Pain + Reflection = Growth
LVMH—The peaking conglomerate
LVMH has long been considered one of the most bulletproof franchises in global equities. But even luxury isn’t immune when macro, geopolitical, and strategic risks collide.
Here’s what went wrong—and what I missed.
1. Cyclical Demand in Disguise
What investors believed:
Luxury is immune to downturns, thanks to high-income consum…