“What is noteworthy is that Bernard Arnault has such strong convictions about LVMH,” said Frederic Genevrier, an analyst at AlphaValue, who said the purchases may reflect Arnault’s desire to own an “absolute majority” of the firm even though he already has nearly two-thirds of voting rights.
This year’s stock purchases during a downturn hark back to a similar move highlighted by Arnault nearly a decade ago. Speaking at the Oxford Union debating society in 2016, he recounted how he bought LVMH shares after the 2008 financial crisis, which he said at the time went on to more than triple in price.
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