A French cannibal !

or how capital allocation has been put to its best use!

First on another note I had a great time speaking with Thomas for 1H30. You can find the link here Interview with Thomas . I hope that you will find it interesting and learn some interesting things!

Lets us get back to the business of finding great companies and especially french ones. It is rare to come about a french cannibal. In other words a company which bought back a significant chunk of it shares and cancels them.

Add to that the use of special dividend, a regular dividend as well as some regular M&A, I think we are onto an entrepreneur who knows capital allocation very well.

There are also regular buybacks and the timing of these buybacks have been quite impressive.

I was a shareholder a long time ago and made the mistake of selling it. It is always interesting to revisit previous holdings and sometimes you realize that you did a mistake by selling it. Only the fools do not change their mind!