Hermes: Almost Immune To The Luxury Deceleration Bug

Group 1 - Hermes is experiencing challenges as its peers face significant struggles, with declining revenue and unaccounted growth [1] - The shares of Hermes are unable to find a stable floor amidst the difficulties faced by the industry [1] Group 2 - The investment strategy focuses on companies with strong qualitative attributes, aiming to buy at attractive prices based on fundamentals and hold long-term [2] - The portfolio management approach emphasizes avoiding losers while maximizing exposure to high-potential winners, often resulting in a 'Hold' rating for great companies if their growth opportunities are below the threshold or if downside risks are too high [2]