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I recently bought some LVMUY. The bear thesis is they are highly exposed to chinese economic and that their products are losing some momentum. The bull thesis is this is a conglomerate with lots of great brands run by an owner.

Anyone has opinions on if this is a good investment?

Random thoughts

Beverages are only a small part of their pie (maybe 7%?), but FWIW a recent post of mine in the "Non-US Stocks" board about the alcohol firms.
https://www.shrewdm.com/MB?pid=448539467

I think the top luxury goods firms are probably very good bets over the long haul. The trick will be to get a really good entry point and a long hold period. As it's currently 40% off its trailing-year high, that's at least some level of comfort. Might not be cheap, but you'd do better than the folks who bought six months ago.

It's a big exposure to ever-changing tariffs, of course, but what isn't?

The China risk is large, but if you take a long enough view, maybe a hit there isn't fatal. If things went very badly there it would turn into a low return but not a wipe-out. Still lots of wanna-look-rich people elsewhere.

Jim

LVMH is down again today on the tariff news. I don't have much to add, but it might be worth continuing to watch if you believe the tariffs are transitory.

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