Let me ask you a provocative question. You seem to put a lot of time into your portfolio, you posted the performance comparison for January (you beat all indices). But when I look at your portfolio on Parqet, I see that you significantly underperformed the MSCI World in EVERY other period (your portfolio +25% since purchase, MSCI World +45%). A one-off savings plan on the MSCI World would have cost you exactly 30 seconds. Wouldn't that be the best choice for you (and probably 95% of all other users here)? At the moment, investing is simply an incredibly expensive hobby for you.
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@monkey_gambler The MSCI World is the best and simplest solution for many - I go along with that.
My portfolio is deliberately more active, with phases of under- and outperformance. The January comparison was a snapshot, not a claim to permanent superiority. I show the development transparently, including weaknesses.
Passive works excellently - active is a deliberate deviation, not a recommendation for everyone.
My portfolio is deliberately more active, with phases of under- and outperformance. The January comparison was a snapshot, not a claim to permanent superiority. I show the development transparently, including weaknesses.
Passive works excellently - active is a deliberate deviation, not a recommendation for everyone.
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@Derspekulant1 100% approval
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•@Derspekulant1 You have no phases of outperformance, you have systematically underperformed the broad market - the most boring ETF - for 4 years. What is your plan? Burn thousands of euros a year? Do you want to change your strategy? Are you hoping it will get better on its own? You may not have any claim to permanent superiority, but after 5, 10 or 20 years of active investing with thousands of hours of your life invested, it would be "nice" to outperform Aunt Gisela's ETF savings plan.
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•@monkey_gambler A quick fact check before we get lost in opinions: You are looking at the IZF, which is visually depressed by my high cash holdings and fresh acquisitions (like Siemens just now).
The comparison via the IZF is a classic beginner's mistake here, as it only reflects my savings behavior and cash timing. The TTWROR, on the other hand, isolates my asset selection from the cash flows and proves in black and white that my stock picking outperforms the MSCI World in the long term.
Since March 2024: +49.6% (vs. MSCI World +30.0%)
Last 12 months: +7.7% (vs. MSCI World +3.8%)
So I'm beating the 'boring ETF' pretty clearly - despite the current tech correction. It is clear that active strategies mean more volatility, but the excess return of almost 20% since the start speaks a different language than 'expensive hobby'. You just have to be able to read the figures correctly 😉
The comparison via the IZF is a classic beginner's mistake here, as it only reflects my savings behavior and cash timing. The TTWROR, on the other hand, isolates my asset selection from the cash flows and proves in black and white that my stock picking outperforms the MSCI World in the long term.
Since March 2024: +49.6% (vs. MSCI World +30.0%)
Last 12 months: +7.7% (vs. MSCI World +3.8%)
So I'm beating the 'boring ETF' pretty clearly - despite the current tech correction. It is clear that active strategies mean more volatility, but the excess return of almost 20% since the start speaks a different language than 'expensive hobby'. You just have to be able to read the figures correctly 😉
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@Derspekulant1 You have to be careful not to talk yourself up a bit. Of course I compared the TTWROR, the iShares MSCI World has made over 40% "since purchase", your portfolio under 9%. Over the last three years, the MSCI World has made 50% and your portfolio 30%. This has nothing to do with "opinion", hard facts.
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@monkey_gambler You are making the next methodological error by comparing a fully invested product (index) with a portfolio including cash holdings. In phases of rising markets, my cash ratio naturally slows down the TTWROR of the overall portfolio (cash drag). However, if you only look at the performance of the invested assets - i.e. my actual stock picking - the outperformance since March 2024 is almost 20% compared to the MSCI World. If you compare apples with pears, you will get the wrong results.
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@Derspekulant1 The TTWROR is calculated without cash holdings. And if any bonds mess up your TTWROR, then that is part of your investment strategy and must also serve as a basis for comparison. At the end of the day, you have made less from a €10000 "investment" than a world ETF.
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@monkey_gambler
I have to correct you, Jimmy: TTWROR is calculated for the overall portfolio - and technically this also includes the cash in the clearing account. As this is not invested, it naturally dilutes the performance in strong market phases compared to a fully invested global ETF.
It's not a question of 'sugar-coating', but of correct data analysis:
1. asset selection: my stock selection alone beats the index (this is the goal of my stock picking).
2. cash ratio: Parking liquidity is a conscious decision for risk management and opportunity, not a performance measurement of the assets themselves. The cash is also not invested and is not a backup for crises, that's what the overnight ETF is for.
In the end, what counts for me is the strategy and the long-term quality of the securities. Since we obviously have different approaches to interpreting performance here, let's leave it at that.
I have to correct you, Jimmy: TTWROR is calculated for the overall portfolio - and technically this also includes the cash in the clearing account. As this is not invested, it naturally dilutes the performance in strong market phases compared to a fully invested global ETF.
It's not a question of 'sugar-coating', but of correct data analysis:
1. asset selection: my stock selection alone beats the index (this is the goal of my stock picking).
2. cash ratio: Parking liquidity is a conscious decision for risk management and opportunity, not a performance measurement of the assets themselves. The cash is also not invested and is not a backup for crises, that's what the overnight ETF is for.
In the end, what counts for me is the strategy and the long-term quality of the securities. Since we obviously have different approaches to interpreting performance here, let's leave it at that.
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