Day after day, we “live” our investment philosophy, and our newsletters bear witness. We write what we do, and we try to do what we write, which is not always easy….
Click on the document below to view a collection of excerpts from our investor newsletters that best illustrate our management philosophy.
Collection of excerpts from our investor newsletters
April 2009 Letter - Making the distinction between risk and uncertainty
October 2008 Letter - Mistakes in 2008
February 2008 Letter - Launch of Sextant INC.
January 2008 Letter - Sales on Midcaps
December 2007 Letter - Launch of Sextant Peak Oil
April 2007 Letter - The theory of efficient markets
October 2006 Letter - Not at all happy
June 2006 Letter - The theory of Peak Oil
March 2006 Letter - Review of 2005, perspectives for ... 2026
September 2005 Letter - Vacation in Canada
June 2005 Letter - Launch of Sextant Autour du Monde
April 2005 Letter - Madame Irma and the cost of petrol
Februrary 2005 Letter - Assessment of 2004
September 2004 Letter - Volitility and orangutans
April 2004 Letter - Pilgrimage to Omaha
January 2004 Letter - Assessment of 2003 and a conversation with Mr. Market
August 2003 Letter - The incredible Mr. Market
July 2003 Letter - Launch of Sextant Grand Large
March 2003 Letter - Amiral Gestion and Sextant Grand Large
January 2003 Letter - Assessment of 2002
October 2002 Letter - Benjamin Graham and the new market
Septembre 2002 Letter - The Internet bandwagon
June 2002 Letter - He who loses wins
April -May 2002 Letter- Sextant INC.