NEWS BY K1P®
September 13, 2021
WE USED TO SAY "INVEST YOUR AGE IN BONDS"
June 14, 2021
When I talk to wealth managers and PB, they tell me we have a problem, Tina! TURNER?? No, "There Is No Alternative". We invest in equities only, we try to diversify as much as we can, and add on top 1% of our allocation into crypto. 😵
When I talk to SWF, SFO and Pension Funds, they tell me, we found the solution, sorry bro!
We invest in equities for sure but switched our old bonds portfolios into HF, PE and RE. We only have 5% max in cash, govies and crypto. 🥶
Ouch... 90% of HF are not properly hedged...and PE/RE are not liquid...👿
When I talk to millennials, they actually keep their age in cash and the remaining huge part online, digitally invested in tech equities and crypto. 😱
When I talk to my team, I tell them we cannot predict the future but we can be prepared. Let's reinvent the industry with all weather liquid strategies... I want to sleep well and stop being afraid of loosing everything overnight or being stucked in non-liquid assets.🤔
We need liquid, transparent, uncorrelated, downside protected strategies, safeguarding the realized positive returns over time.🤓🧐
We are game changers, so we have created what we call the K1P Triple-A strategies:
🏔 We focus on Absolute returns
🗻 We capture Alpha
🌋 We manage Antifragile strategies
LEADERS WITH PURPOSE
June 4, 2021
I was presenting our Strategic Plan to our employees, shareholders, Senior Advisors and Partners this week, getting inspiration from a HBR article I discussed back in 2019 with one of my mentors, Harvard alumni and CEO of a SBF 120 company in France.
More than topical in the post-Covid re-opening, I stressed our Purpose as the first driver for our future growth and development:
🎯 Put Purpose at the core not as an add-on,
🔑 Create new markets and shared value,
🌈 Serve broader stakeholder needs, commit and give back,
✨ Don’t forget to change the rules of the game.
Do you agree and can you identify some Public Companies and Corporate Governance focused on these drivers? 🚀🤔
FRANCE 2 - 1 ITALY
May 25, 2021
It is not the result of the Eurovision 2021 but the ratio of last 10-year acquisitions in value between France and Italy.
We often underestimate the role of strategic shareholders in Corporate Governance.
With EssilorLuxottica and Stellantis, family shareholders enabled with more or less success a quick implementation of a sound Corporate Governance: Stellantis win-win on day 1 post-merger thanks to a balance and alignment of interests, EssilorLuxottica after more than 2 years, far away from former Fontanet's leadership at Essilor but closer to the the weird two-CEO governance structure at Luxottica.
The French do not have to be sad for Essilor, France-Italy cooperation and M&A activities remain a great driver of growth and shared success... as it used to be for LVMH, Kering, Vivendi, BNPP, EDF or ST Micro.
MERCK OR CREDIT SUISSE?
May 3, 2021
Interesting to follow the current trend in European Corporate Governance.
After Jen Morgan, who had a bad experience as the first female to head a blue-chip Dax 30 company in October 2019 (SAP Co-CEO alongside Christian Klein), Belén Garijio was appointed first female "single" CEO at Merck this week-end.
We wish Mrs. Garijio all the best in this amazing industry, leading innovations and developments as a key supplier of Pfizer-Biontech vaccine!
In the same time, we see a total reshuffle of Corporate Governance at CS after many years of internal competitions, lack of rigorous procedures and risk management.
Interesting to have your pick?
April 24, 2021
Congratulations to Supaéro alumni 2000-2001! Respect fellows 🚀✈👍👍👍
Thomas Pesquet & Rémi Canton
DANONE - A FALLEN ANGEL
March 16, 2021
Danone is a good example of Corporate Governance.
Danone was a one-man show without any reference shareholder(s) and a phantom board of directors who did not hesitate, after having voted without restriction on a strategic plan at the end of 2020, to give its “CEO with a mission” as pasture to the first activist investors.
Corporate governance is the only objective “ESG” criterion that can detect the deep state of a company and its need for renewal (see K1P scoring of the Food sector below).
Let us meet in three years to assess the benefit of a reference shareholder for this sleeping beauty, with the help of a new Chairman who had a magnificent career at Legrand and understood in 2018 the benefits of separation roles between Chairman and CEO, as other great over-performing leaders did such as Daimler, Valeo or Saint-Gobain.