I share similar thoughts with you Guy on this.

While I like two very luxury companies (Hermes and Ferrari), I have decided from a philosophical standpoint that we would not own any luxury businesses.

While there could be money to be made that we will miss out, it is okay and we can make it somewhere else.

It is most important to stay true to our philosophy of Vision Investing, owning companies that best reflect our best vision of the future, changing and shaping the world for the better.