TBT 2017

The year has ended on a high note for my portfolio. Turning Point Brands´ value increased almost 20% over the days between Christmas and New Years. It seems like the market has suddenly woken up to recognise what the Trump administration´s tax cuts will do to a business that generates almost all of its profits in the U.S. Further, dialysis services provider Davita announced the sale of its Healthcare Partners division for USD 4.9 bn. which has been a drag since its acquisition in 2012. This was rewarded by the market with a 30% run. An allocation of these proceeds to share buybacks and debt retirement should push the value of Davita´s equity further up towards USD 90 per share.

Incorporating this stretch towards the finish line of the old year Investing0711 returned 13.57% for the full year. Continue reading

2016: A Year of Outperformance and Some Avoidable Mistakes

Another year has gone by and I can announce that for the first time in this blog´s short two-year history I have squarely beaten the S&P500 by 4.9%. The value of funds invested is up 18%  from the beginning of the year and the S&P500 closed 13.1% higher (in EUR). I am especially happy about the results since they were achieved by employing a very rational approach that I am confident to be able to replicate in the years ahead.

For each company that I bought shares in I could determine with high certainty its intrinsic value and document most of the analysis here on this blog. As a consequence I achieved healthy returns with Clydesdale Bank, Baidu, IBM, RCI Hospitality and Davita. Many of these fine companies are still far away from my target prices and will hopefully serve as foundation for next year´s outperformance. Continue reading

A Short Recap of 2015

It´s been a while since my last blogpost. A lot has happened. First, I decided to stop blogging in German language due to the low overall interest in stock markets and finance here in general. I guess “Once burnt twice shy” describes how German speaking countries feel about risky investments.
Second apart from a cosmetic language change I want to leave a few words on the development of markets. Markets, both domestic and international, were and are still driven by central bank monetary policy. The Fed´s December rate hike as hasn´t been well received by market participants with the S&P500 falling about 5%. Continue reading

Rückblick: Januar

Der erste Monat im neuen Jahr ist vorüber. Zeit für ein erstes erstes Zwischenfazit. Beim betrachten meiner aktuell eher bescheidenen Portfolioperformance und dem weiten verfehlen der 150€ monatlichen Sparquote könnte man die vergangenen vier Wochen getrost als Fehlstart in die neue “Saison” betrachten. Ein kurzer Rückblick auf das Geschehene, lässt in Zukunft jedoch Besserung erahnen. Continue reading