Christian Billinger of Billinger Förvaltning presented his investment thesis on LVMH Moet Hennessy Louis Vuitton (France: MC) at Best Ideas 2022.

Thesis summary:

LVMH Moet Hennessy Louis Vuitton, one of the core holdings of Billinger Förvaltning, is the type of business Christian looks for – a truly outstanding business that Billinger Förvaltning can hold for the long term.

LVMH is attractive because 1) it has a great collection of assets, 2) those assets are well-managed, and 3) the culture and governance should enable shareholders to participate in continued wealth creation for a long time.

slide presentation audio recording

About the instructor:

Christian Billinger is an Investor at Billinger Förvaltning, a family-held investment company with no external capital. The simplicity of the setup as well as permanent and patient capital provides Christian with the proper environment to pursue his strategy of identifying long term compounders.

Christian focuses first on the qualities of robustness and resilience which limit downside potential before determining the mix of returns on capital and scope for reinvestment opportunity that accounts for the upside. Often, these factors overlap with family-controlled management teams that more conservatively finance their operations.

Prior to Billinger Förvaltning, Christian worked as a European Equity Analyst for various investments funds. Before that, Christian was an associate at PwC. He holds an MS in Accounting and Finance from The London School of Economics as well as Karlstad University. He is also a CFA charterholder. He splits time between London and Sweden.