Richemont CEO Johann Rupert says he's more 'Rupert the Realist' than 'Rupert the Bear', often professing caution, warning of dangers and generally being quite pessimistic.
How does one deal with nominative determinism? Richemont CEO Johann Rupert has the nickname in the markets of "Rupert the Bear" because he is often professing caution, warning of dangers and generally being quite pessimistic.
For those who grew up less than a half-century ago, Rupert the Bear was a children's book that featured said Rupert, who was, in fact, a teddy bear. Rupert was always resplendent in tartan pants and scarf and would have "adventures", which, by modern standards, would be regarded as embarrassingly commonplace.
The "bear" part notionally denotes the market bearishness of Rupert the Person. There is, it goes without saying, no visual or other connection between Rupert the Person and Rupert the Bear. The only question is whether Rupert the Person runs his company on bearish principles or not.
If you look at how Richemont works, there is very little indication of bearishness anywhere. Rupert might like to sound bearish, but the company is on a tear. Consider, for example, the company's latest results released on Friday, 20 May. For the...
