THE FINANCIAL STATEMENTS GUIDE

A great overview for anyone looking to build some foundational knowledge!

https://twitter.com/JoeydeWit_/status/1684575635459682305?t=0qb4ySYv2m9NiTMU0B59Ig&s=19

For further knowledge:

𝗕𝗮𝘀𝗶𝗰𝘀 𝐁𝐢𝐥𝐚𝐧𝐳𝐚𝐧𝐚𝐥𝐲𝐬𝐞 𝐓𝐨𝐨𝐥𝐬/𝐁𝐞𝐰𝐞𝐫𝐭𝐮𝐧𝐠𝐬𝐯𝐞𝐫𝐟𝐚𝐡𝐫𝐞𝐧:

-Financial Statements ABC

https://app.getquin.com/activity/ToMuvITmXP?lang=de&utm_source=sharing

-Value Investing - Buffett

https://app.getquin.com/activity/XcuRrJwmyP

𝗔𝗱𝘃𝗮𝗻𝗰𝗲𝗱 𝐁𝐢𝐥𝐚𝐧𝐳𝐚𝐧𝐚𝐥𝐲𝐬𝐞 𝐓𝐨𝐨𝐥𝐬/𝐁𝐞𝐰𝐞𝐫𝐭𝐮𝐧𝐠𝐬𝐯𝐞𝐫𝐟𝐚𝐡𝐫𝐞𝐧:

-The little guide of valuation

https://app.getquin.com/activity/laOUVhfFDI?lang=de&utm_source=sharing

#learn

#theaccountant

#accounting

#financialstatement

What's the deal with credit cards, anyway?

Users often ask questions here like: Which credit card is right for me? Which one is recommended and for what reason? In the past, I have briefly touched on the Amex/Miles & More + Revolut model due to your inquiries. Now I'd like to offer you a (reasonably) detailed explanation of it.

What is it about?

This post will cover the following topics:

1. Amex Platinum credit card

2. Miles & More Gold Credit Card

3. miles/reward points?

4. revolut current account

5. recommendation - is it worth it?

6. payback points

7. conclusion

8. welcome bonus/current promotions (valid until 01.11.2023)

1. Amex Platinum Credit Card

There are not only advantages with the Amex Platinum card, but also two important disadvantages. Firstly, the card is not accepted everywhere, especially in restaurants this can occasionally be the case. Secondly, it comes with an annual fee, namely 700€ for the business variant and 720€ for the private variant. A lot of money for not much. What do you get in return?

Identical Platinum Private + Business benefits:

• 24/7 personal and telephone customer service
• Dedicated booking portal for flights, accommodations and car rentals with exclusive offers for Platinum cardholders only
• 200€ travel credit per year, refunded by Amex after booking flights or hotels
• 200€ Sixt Ride credit per year
• Worldwide lounge access at over 1200 airports for cardholder and one companion
• Status upgrades and discounts with hotels and car rental partners
• Comprehensive insurance package, including international travel health insurance, travel cancellation insurance, travel interruption insurance, luggage insurance, travel accident insurance, travel comfort insurance (in case of flight or luggage delay) as well as rental car comprehensive insurance and motor vehicle protection letter

Platinum Private add-on:

• 150€ restaurant credit, which is refunded after payment by Amex
• 120€ streaming credit per year, e.g. for Netflix

Platinum Business add-on:

• 200€ Dell credit per year, which will be reimbursed after Amex purchase

Important differences between the private and business versions:

• With the Business Card, coverage applies regardless of card use, and there is no deductible.
• The status with the Global Hotel Alliance (GHA Discovery) is only available for the private version.
• The second business card is free of charge (in my case I gave it to my mother, alternatively the cost can be shared with someone else).

In addition to the benefits already mentioned, you will receive 1 Reward Point for every Euro you spend. If you activate the "Turbo", there are even 50% more points. These points can either be converted into miles at various airlines or used for payment.

One question that many Amex Platinum customers ask themselves over time: What is a "limit" anyway? Since the fees for the business card are tax deductible, the question of whether the card is worth it is almost a milkmaid's calculation.

The other advantages, such as discounts at various companies and special offers are constantly changing, so I won't list them here. Since you can also easily inform yourself about it :)

2. miles & more gold credit card

The Miles & More Gold credit card also offers a range of benefits and is comparatively inexpensive, with an annual fee of "only" 138 euros.

Benefits at a glance:

• No expiration of collected miles with Lufthansa
• You receive one mile for every 2 euros spent
• Comprehensive insurance package: travel cancellation and interruption insurance, fully comprehensive insurance for rental cars, international travel health insurance

Additional information on insurance benefits:

International travel health insurance is valid regardless of card use. All other insurance benefits are only covered if the respective payment was made with the Miles & More Gold credit card.

3. miles/rewards points?

With both cards you can earn points for your sales.

Lufthansa card: The deal here is pretty simple. You earn miles that you can use for Lufthansa store purchases or to book and upgrade flights. Most of the time, you'll get the best value if you use the miles for upgrades or take advantage of the offers on meilenschnaeppchen.de, especially those from partner airlines.

Amex: With this card, you earn Reward Points that you can also exchange for miles on various airlines. There are many bloggers who regularly give tips for the optimal exchange of rewards into miles.

4. revolut checking account

Revolut offers a free checking account where you can exchange foreign currencies at very good conditions. So if you go on vacation outside the euro zone, you can easily change your money and pay with it abroad. A special bonus is the possibility to earn miles. How to do it? It's very simple:

Normally, you have to transfer money to your account in order to make payments. But at Revolut you can also use your MM Gold card to deposit money for free. This means that you can already earn a lot of miles with your regular spending. Whether it's rent, cell phone contract, loans, insurance, taxes, gym or other subscriptions - just have everything debited from your Revolut account. For example: with 1.500€ monthly expenses you earn 9000 miles per year (1.500 x 12 x 0,5).

Why do I use both cards - the Amex and the Miles & More? I'll explain it to you with an example:

I book a flight with Lufthansa and earn miles thanks to my Miles & More number. I pay for the flight with my Amex and get more miles (i.e. Reward Points). To load money to my Revolut account, I charge my MM card and get miles for that as well. I then pay the Amex bill by transferring money from my Revolut account. This way, I generate additional miles on the MM card for every transaction with the Amex.

5. recommendation/is it worth it?

Recommendations:

• Beginners and people with low turnover, at least one vacation per year: Miles and More Gold + Revolut. You no longer have mileage expiration, "low" fees, and don't need an additional insurance package for rental cars. Ideal for those who want to try it out first.
• High turnover and spending, at least one vacation per year: Amex + MM + Revolut. You can earn a real lot of miles and will appreciate the benefits of upgrades and lounge access on your next trip at the latest.
• Professionals: Amex + MM + Revolut. An absolute must. The card costs are tax deductible, so the effective cost of 700€ at a tax rate of 42% is reduced to 406€ per year. That alone makes the card worth it, even if you don't use the Reward Points.

Is it worth it?

If you love to travel, the answer is a resounding yes. I myself love to travel and also enjoy taking short trips. I wouldn't want to miss the lounge access at airports (food 6 drinks for free after security checks, comfortable seating, etc.). In addition, there are travel credits and special offers that I like to take advantage of. In addition, I usually rent a scooter, motorcycle or car on vacation to be mobile (except in countries like Sri Lanka). So for me, the offer is definitely worth it from the very first vacation.

6. payback points

The AMEX Payback card is free and can be linked to your account. Every few months there are promotions like "50x points at Rewe" etc.. In such cases, you can just buy some Amazon vouchers and enjoy the extra collected points. Personally, I don't do this because the points generated elsewhere are already enough for me and I don't want to bother with more.

7. conclusion

I am extremely satisfied with both the performance and the service at Amex. I have used the 24/7 hotline several times, and each time all my concerns have been taken care of in an exemplary manner. I find the annual fee to be justified and feel it is reasonable compared to the services received. Anyone who has studied the subject a bit or also actively uses the card will probably come to the same conclusion.

8. welcome bonus/current promotions (valid until 10.10.2023)

Both Amex and MM often offer welcome bonuses in the form of miles or reward points. The amount of these bonuses varies, and it is of course most worthwhile to apply for the cards when the bonus is particularly high.

Currently, this is the case with both providers; there are attractive bonuses for both the referred and the referrer.

I try to keep the post up to date - as soon as there are new offers after that, I'll enter it.

Current offer MM:

• 30,000 award miles
• 2 Lufthansa Business Lounge Vouchers
• Voucher for a weekend rental at Avis

Current offer Amex:

• Platinum Business: 75,000 Reward Points
• Platinum Private: 55.000 Reward Points

Please note: The bonus is usually linked to certain conditions, such as a minimum purchase in a specified period. You can find the exact details in the terms and conditions.

Ref links to receive the welcome bonus:

• Amex Platinum Business <- press on it
• Amex Platinum Private: Unfortunately, as a business customer, I cannot make this offer.
• MM Gold: If using a ref link for MM Gold, the bonus would be less than the current offer, only 10,000 miles. Please use the offers with Lufthansa, they are much better than the refer-a-friend offer.

I hope it is halfway clear and gives you some added value :) If you have questions, or something is incomprehensible, just check again!

#amex

$AXP

$LHA

What do you like better / is clearer:

🚀 = Only relative return, but larger (can be switched to absolute by clicking on it)

❤️ = Relative + absolute return, but smaller font size

Since there were some inquiries about the split at $NOVO B in $NOVO B there are.

The split with the factor 2 is already stored in the database.

It is not technically possible for us to perform ISIN transfers, so some manual rework is necessary in this case.

The procedure is as follows:

1. find the purchase transaction(s) from $NOVO B out.

2. now open the transaction(s) to edit them.

3. next you insert the new ISIN of $NOVO B and select the company from the dropdown menu.

4. the number of shares remains the same and the buy in remains the same

5. now save

After that, our system will automatically perform the split and the return will be recalculated.

ALTERNATIVE for people for whom saving does not work.

1. go to the securities page of $NOVO B

2. now go to the tab "portfolio

3. there you see the average purchase price (remember!)

4. now you create a sale for all shares (just use "sell all") on 13.09.2023.

5. you enter the average purchase price as the selling price.

6. all shares of the old listing have been derecognized value-neutrally

7. now you create a purchase for $NOVO B with the same number of shares at the old average purchase price. 8.

8. our system will now perform the split

9. the yield is now continued and the old dividends are retained

FAQ:

1. we do not know how long the rebookings and splits take at the brokers. Therefore, for people with open banking, the new shares that are entered may be sold first. Once your broker has done the rebooking, you can simply delete the sale.

2. you can't save the changed transaction? Then it is best to try another terminal or browser. We have tested this procedure several times under IOS, Firefox (Windows and MacOS), Chrome (Windows and MacOS) and Safari (MacOS).

3. dividends are automatically re-recorded after changing the ISIN. Just wait and see.

4. nothing to do with Open Banking, just wait and see.

This time, unfortunately, the split is a bit more involved than usual, because the nature of the transfers is a bit different.

Hello all,

I am thinking about buying a property as an investment.

What is your opinion on the subject of real estate?

Specifically, I want to create an outperformance of alternatives ( ALL WORLD ETF ( 6% ).

In Berlin I have an offer for an apartment (100 sqm) old building for 5100€qm.

that is m.E. a very good price for the location etc... and nevertheless I come just in such a way (13€ rent presupposed) on a net yield of around 6%...

clear if you add a value increase of about 1.24% it gets a little better.

basically I do not understand how people invest profitable in real estate.

Who of you invests in real estate and what return are you looking for? Is there anything I am missing?

thank you 😘

Trade Republic raises interest rates on non-invested deposits to 4% from 01.10.

https://www.wiwo.de/finanzen/geldanlage/fintech-trade-republic-hebt-zinsen-auf-4-prozent-und-bietet-nun-anleihen-an/29392312.html

Dear Community, @finanzfluss is looking for some exciting portfolios for the live stream on Twitch. Please submit your portfolio via the following link: https://form.asana.com/?k=1gVurVL7jxGfRksBWh7tAw&d=166500506146954

You help to make the platform more popular - all portfolios presented in the stream get getquin Premium for free (lifetime).

Thank you! :)

PS: Feel free to tag users, if you think of exciting portfolios :).

Money market ETFs as an alternative to overnight money hopping

(More independence from bank strategies)

Thanks to @Epi
@femkelbn
@DonkeyInvestor for drawing attention to this :)

Functionality

Money market investments offer a way to participate directly in the key interest rates set by the central bank.

Money market ETFs are traded normally on the stock exchange and have a price at which they can be bought and sold.

Unlike overnight money, a securities account with a broker is required. There are no risky stocks in the money market ETF, but this depicts deposits that are mapped with the respective interest rate of the money market.

There, banks, companies and governments invest money in the short term and give each other loans with short maturities. These are interest-bearing - and it is with these interest rates that a money market ETF generates its return.

Risk assessment

In their capacity as funds, money market funds also reduce credit risk for their investors. Investors benefit from the diversification of the fund portfolio across different instruments, markets and issuers.

A negligible risk is the lack of deposit insurance. This is present in a time deposit account, but since the ETF is classified as a different asset class, this protection is eliminated. Why negligible? Unlike other investments, the invested money is kept as special assets, so it is protected from issuer insolvency.

The second enormously small risk is the counterparty risk.

As with other ETFs, this risk here is against the respective provider of the swap transactions*****. However, UCITS ETFs may have a maximum swap share of 10% (and these still belong to the special assets and the provider must deposit collateral).

Example return money market ETF

4% key interest rate -> 3.6% €STR/ return p.a.

-2% key interest rate -> -1.6% €STR/ return p.a.

within one year steadily rising interest rates from 0 to 4% = past annual return approx. 1.5%

Yield calculation of modern money market ETFs

short-term (e.g. Euro) interest rate €STR (is always just below the prime rate, shows current money market transactions) ***

• spread calculation on the part of the bank of 0.085%
• 0,1 TER (annual ETF fee)

Utilization thesis

Banks pass on sometimes more and sometimes less interest to the consumer at different times, depending on the strategy and account type. In order not to be dependent on the strategy of the house bank, a money market ETF is suitable as long as the interest rates of the mapped interest rate are higher than the offers of the bank (or on average higher than offers of other banks to which one could switch)

The risk is much lower than that of a capital market investment, the changes are exactly predictable.

Example $XEON

Xtrackers EUR Overnight Rate Swap UCITS ETF 1C

Xtrackers provider, belongs to DWS Group (841 billion under management, in comparison: DEKA (savings bank) manages 372 billion)

EUR overnight rate Index tracks the performance of a deposit bearing interest at the short-term euro rate (€STR)***

Swap Swap Contract *****

UCITS ETF ETF subject to EU UCITS rules

1C accumulating, does not distribute but reinvests

The above mentioned ETF can be purchased via ISIN LU0290358497 at virtually any broker. The annual return tracks the €STR, thus the return for the last year is 2.29% (key interest rates increased from 0 to 4.25%, €STR thus from -0.5% to 3.6%)

If the key interest rates would remain at the current level, the above mentioned $XEON would gain approx. 3.66% p.a..

(ETFs can always be bought and sold when the stock exchange is open, i.e. in Germany alone basically on weekdays from 9 a.m. to 5 p.m.).

Personal Example of action

At my house bank (ING) I get 1% on the overnight deposit account. This is where my nest egg is, because I don't want to depend on a fast money payout from my broker. (Since there is no guarantee how fast the money is transferred back from the clearing account, even if in practice it is usually a few days).

All further savings, which should serve the preservation of assets, I store in the $XEON, (buy the ETF via my broker) until the interest rate of the €STR is below the interest rate of my overnight account (1%). Then I sell the ETF through the broker, so I transfer the total amount back to my house bank.

Although I have alternatively the possibility to always switch to other overnight deposit accounts with always new bank offers, but in order not to burden my SCHUFA negatively I renounce any new openings (+ I am lazy and want to avoid 3 account changes per year).

Thus, instead of having to deal with interest rate offers from all possible banks, I only have to deal with the ECB's key interest rates, which are minimal for me.

These always happen with media attention!

*Money market

On the money market, companies, governments and banks borrow money on a short-term basis. Loans are always granted slightly below the current key interest rate. The central bank uses this rate to control how much it is worthwhile for all parties involved to grant loans, etc. The central bank's interest rate is the key rate.

*** €STR

The €STR is correlated with the key interest rates; it reflects the cost of euro overnight loans from banks located in the euro area.

The €STR is based entirely on daily confidential statistical data on money market transactions collected in accordance with the Money Market Statistical Reporting (MMSR) regulation.

See instantaneous ESTR price in the dashboard here:

https://www.ecb.europa.eu/stats/financial_markets_and_interest_rates/euro_short-term_rate/html/eurostr_overview.en.html#calc

**** prime rates

Prime rates are the interest rates at which banks can borrow money from a central or central bank.

High prime rates lead to rising account interest rates (e.g. on savings accounts, overnight deposit accounts, time deposit accounts), low ones to falling account interest rates, as banks want to attract customers by partially passing on these rates.

***** Swap Contract

2 contracting parties enter into a contract that cash flows will be exchanged on specified terms. In this case, short-term bonds.

Swap risks: https://www.fe.training/free-resources/financial-markets/swap-risks/

The whole very understandable as a financial flow video:

https://www.youtube.com/watch?v=Obmjt4USeXQ

Has also been written before from Xtrackers profile:

https://app.getquin.com/activity/VqQlgUhtaB

More info here:

https://etf.dws.com/de-de/etf-wissen/angebotene-assetklassen/xtrackers-geldmarkt-etfs-eine-alternative-zum-tagesgeld/

https://www.dbresearch.de/PROD/RPS_DE-PROD/PROD0000000000441769/Geldmarktfonds%3A_Wie_sie_funktionieren_und_wer_sie_.pdf?undefined&realload=QkMX6LOLGWSNjtzjf9QtZBpIFsdCB9jVZrQuIwxG3OoH4Hqzk8Ok3hrhgyZTEXZw

Sources

Internet

https://www.bundesfinanzministerium.de/Content/DE/Glossareintraege/L/002_Leitzinsen.html?view=renderHelp

https://etf.dws.com/de-de/etf-wissen/angebotene-assetklassen/xtrackers-geldmarkt-etfs-eine-alternative-zum-tagesgeld/

https://www.finanztip.de/blog/geldmarkt-etfs-die-bessere-alternative-zu-tagesgeld/#:~:text=So%20funktionieren%20Geldmarkt%2DETFs,ein%20Geldmarkt%2DETF%20seine%20Rendite.

Books

"Professionell in ETFs investieren" by Michael Huber, ISBN 9783959726832 Finanzbuch Verlag

@Zukunftsminister
@danielsofficial
@UncertifiedHighPerformer
@Fitzcarraldo
@nulldreinull
@timg1355
@TribleBlack
@Aktienhengst

You were interested

How big is your personal need penny? I once heard that it should be 3-4 months salary. However, I'm currently still a student and don't really have any expenses and often wonder lately how much money I should leave in TR's overnight money and how much I'm already investing in Etf's.

FTSE All World ♻️ S&P 500

After long consideration I replaced the FTSE All world with the S&P 500.

I have also fully utilized my allowance for 2023.