Richemont enjoyed a huge day as the trading update was welcomed with both hands. 6.35 percent better on the day, just less than 50 Rands a share at the close. Although during the day the stock traded comfortably above that level. I did also see a research note that suggested that Richemont was still a screaming buy. The WSJ (Subscription only, sorry) had an article titled Richemont Chases Luxury Status, with the conclusion that they are cheap. Now there is a turn up for the books, Richemont looking cheap. I remember the reluctance of people to buy them because they looked expensive, all the time. Perhaps those folks can buy them close to the all time highs. I am of course being facetious. You have to feel a bit for this guy, but he got it wrong: Bronte Capital Just Closed A Luxury Short At A Loss. Wrong. And perhaps that piece is everything that I need to lead me nicely into my next piece.