been looking at cfr's china exposure again, particularly the watches and jewellery side. luxury demand ther…by @thuli_dd on $CFR

been looking at cfr's china exposure again, particularly the watches and jewellery side. luxury demand there is still soft compared to 2021/2022 but the group's diversification into personal goods and online actually put them in a better spot than some peers when footfall dropped. holding at r3603.70 feels reasonable given the balance sheet, just annoying how much of the upside gets priced in euros anyway so rand moves kill you.