Le churning objectivé: quelques paramètres utiles (allnews.ch) - 12Shields

Article publié par Frédérique Bensahel et Aurélie Moyal-Azra sur allnews.ch le 31 mars 2025.

L’article aborde la pratique dite du «churning» dans le domaine de la gestion de portefeuille.

Le «churning» se définit généralement comme l’excès de transactions (achats/ventes) effectué par un conseiller financier ou un gérant de fortune dans le but de générer plus de commissions, au détriment du client.

L’objectif de l’article est de fournir des éléments concrets pour repérer et objectiver cette pratique.

figurenpop.de

A luxury watch is not designed for a single generation. It is built to last, to become an heirloom. This is its most profound dimension. Unlike a car that depreciates or a garment that wears out, a fine watch matures. It acquires a patina. The gentle scratches on the case, the fading of a tropical dial, the softening of a leather strap—these are not flaws. They are a diary. They are the mark of a vacation, a career, a wedding day, the birth of a child.

This is the philosophy embedded in brands like Patek Philippe, whose iconic advertising states, "You never actually own a Patek Philippe. You merely look after it for the next generation." This sentiment transforms the object from a commodity into a link in a chain, a repository of family history. It is a promise from the past to the future.