Welcome to the age of the incumbents. Industry leading companies are able to access cheaper funding at better prices than disruptive new entrants. We expect them to ride out the current turmoil and consolidate their position. #EssilorLuxottica is a Cerno Global Leaders company.
While investors fret about the merits of #valueinvesting vs. #growthinvesting, the truth is the key driver of share prices over the long term is #earnings.
#LVMH is an example of such a business.