François Rochon

François Rochon founded Giverny Capital in Montreal, Quebec in 1993 (named after the French village where Monet painted). He applies a Warren Buffett-influenced approach to investing — concentrated positions in exceptional businesses bought at reasonable prices and held for long periods. Over 30+ years, Rochon has built a track record of compounding at rates significantly above the S&P 500. His annual investor letters, written in both French and English, are widely read in the Canadian and broader value investing community for their clear thinking, intellectual humility, and nuanced discussion of business quality and valuation. He holds a relatively small number of positions and turns his portfolio slowly, demonstrating patience through periods of underperformance. Rochon's letters are notable for their combination of investment analysis with broader reflections on art, history, and philosophy, reflecting his belief that wide reading and intellectual curiosity are essential to developing the judgment required for long-term investing.