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International Investor, Hedge Fund Manager, and Author

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The Foxhole
·We chase the trend everyone is talking about and ignore the century-old brand. History suggests we have it backwards.
Agree!One of the reasons I created and track The Sartorial Portfolio was to test a simple idea: enduring brands can continue to create enduring shareholder value. From its inception on December 31, 2024 through July 1, 2026, the portfolio — made up of businesses rooted in classic and timeless menswear — generated an annualized return of +14.9%. Its oldest holding traces its origins to 1365 (LVMH), while its youngest is Frasers Group (founded in 1982), owner of the famed Gieves & Hawkes (1784). Across its 14 holdings, the average company has been in business for 124 years.As of July 1, 2026, the portfolio's core holdings are projected to grow earnings at a +18.8% compound annual rate over the next three years, well above their +11.6% average annual earnings growth over the past three years. Combined with a current dividend yield-on-cost of 1.8%, that implies an expected annualized return of about +20.6%. These companies have survived for an average of 124 years because people continue to pay for quality, craftsmanship, and timeless style — even as luxury prices rise. I would not be surprised if many of them are still thriving in 2050 — and perhaps another 124 years beyond that.