136. Taxing the cryptocurrency traders

From tax returns to elective surgeries, and from national grids to who’s watching what on TV, there are plenty of attractive franchise opportunities to be found around the world. In this interview, Bertrand Cliquet, co-manager of Lazard Global Equity Franchise fund, tells us about the three ways he and the team make money for investors, why they don’t hold Amazon and why cryptocurrency gains could benefit one of their stocks.
Spotify Podcast

Run by a four-strong team located in London, Sydney and New York, Lazard Global Equity Franchise looks for companies that have an edge in their respective business sectors. It can invest in any business around the world, but because the managers are looking for industry leaders, there is a natural bias towards larger-sized companies.

Read more about Lazard Global Equity Franchise

What’s covered in this podcast:

  • What type of company qualifies as a global franchise [0:19]
  • Why the fund doesn’t hold Amazon [1:06]
  • Why a third of the portfolio is invested in European firms [2:20]
  • The three ways the managers make money for investors [3:25]
  • How the team looks at ESG [5:11]
  • Why national grids are so important to the energy transition [7:08]
  • Why the ‘reopening’ of elective surgeries makes some healthcare companies interesting [7:50]
  • Why the managers like US tax company H&R Block [9:42]
  • How to make money from knowing who is watching what on TV and via WhatsApp [11:42]
This article is provided for information only. The views of the author and any people quoted are their own and do not constitute financial advice. The content is not intended to be a personal recommendation to buy or sell any fund or trust, or to adopt a particular investment strategy. However, the knowledge that professional analysts have analysed a fund or trust in depth before assigning them a rating can be a valuable additional filter for anyone looking to make their own decisions. Past performance is not a reliable guide to future returns. Remember, all investments can fall in value as well as rise, so you could make a loss. Before you make any investment decision, make sure you’re comfortable and fully understand the risks.Further information can be found on Elite Rated funds by simply clicking on the name highlighted in the article.

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