🚨 🚨🚨 Carrefour: An Economic Model Under Pressure - Project X🚨🚨🚨 🔎 A Controversial Strategic Shift Carrefour is accelerating the franchising of its stores to reduce capital exposure. Currently, 5,870 out of 6,468 stores in France are franchised, including 100% of the

Coup de bluff ou grain de sable ? Le fonds Whitelight Capital Whitelight Capital mené par Kévin Romanteau, accuse Carrefour de masquer 1,5 Mrd€ de dette via des pratiques comptables jugées opaques. Selon le fonds activiste, la dette réelle du groupe atteindrait 10,4 Mrd€, contre

📊 Mid-Year 2025 Outlook Roundup Looking for the latest macro & market views? Here’s a curated list of top institutional mid-year reports. 🟢 BlackRock, JPM, UBS, Amundi, Fidelity, Vanguard… and more below. If I missed any, feel free to DM. 👇 Links below 👇 Blackrock

💡 As Continuation Funds Collapse, IPOs Will Get Worse 🧠From Engineered Exit to Alpha Setup: Why the End of Continuation Funds Could Trigger a Shorting Bonanza Private equity firms are now routinely selling assets to themselves via continuation vehicles. In H1 2025, these

🚨 Defense Sector: Risk Zone Ahead? 🚨 H1 results may trigger a reality check for overheated defense stocks. Political promises ≠ cash flows. Momentum fueled by NATO/€800B EU plans, but new French orders YTD seems to fade. Valuations priced for perfection. 🧨 Volatility

AI & Alpha Investing: My Hypothesis, "from increasing returns to scale, to increasing returns to skill" Having just completed Part 1 of our new program AI for Investment Research (~15 hours of live Zoom sessions & ~700 slides around integrating AI in the into the investment

Bravo #WhitelightCapital ! Whitelight Capital go ! #finance #banque #CreditAgricole #activisme lalettre.fr/fr/entreprises…

Mega-cap tech is transforming from high-margin, cash flow machines into capital-intensive enterprises with secular margin headwinds and structurally lower free cash flow, which means multiples going forward for the group will face downward pressure (this is one of the biggest