(Article written while England are playing Italy in the Women's European Championship - you have to set priorities 😉)

Edit: I almost missed it! THANK YOU for 300 followers and soon 400k post views. 💕

Investing in Switzerland has a number of tax advantages, especially compared to many other countries. But the same applies here: those who are familiar with the system can plan better in the long term and optimize returns more cleanly. The article offers all interested parties (including those from abroad 😅) an overview, from withholding tax and the amount of tax to the question of whether dividends really make sense. At the end is an OECD overview of taxes and the tax burden.

Tax landscape briefly explained

Switzerland has no capital gains tax on custody accounts - capital gains on securities are tax-free for private individuals. We do not have all the pots like in Germany.

Anyone who invests in securities for the long term can take full advantage of the compound interest effect anyway, but the following taxes are to be expected:

• Dividends are considered income and are fully taxable (income tax)
• Withholding tax35 % on dividends from Swiss shares (reclaimable if declared correctly . Was and is particularly relevant for the prevention of tax evasion, before bilateral agreements and automatic exchange of information)
• Stamp duty0.15 % on Swiss shares, 0.30 % on foreign shares (when purchased via a Swiss broker)
• Wealth taxAnnual on the value of all assets

Of course there are other taxes, but I am focusing here on direct, investment-relevant taxes.

How heavily are income and assets really taxed?

Switzerland has a federal tax system - the effective tax burden differs massively depending on where you live. The following chart illustrates this nicely:

For example, in Zug or Schwyz you pay less than 25% on high incomes - while Geneva comes to over 45%. The national average is around 36,4 %.

And in the "world-famous city" of Zurich specifically?

Anyone with a taxable income of around CHF 100,000 in the city of Zurich will end up with an effective tax burden of around 16%. The marginal tax rate increases significantly with income - at CHF 300,000 you quickly reach over 40 %.

I feel very much at home in Zug - but the low taxes are partly offset by the high cost of living. Below an income of around CHF 120k p.a., it is almost irrelevant where you live in Switzerland, as the costs level out. Above that, however, it becomes extremely interesting.

The FTA tax calculator from the federal government allows you to calculate various combinations. I strongly recommend it, even if you are planning to move to or within Switzerland.

Example calculation: Growth vs. dividends

But I don't want to lose the thread completely. My point in this post was also to compare the divi vs. growth strategy from a Swiss perspective.

Let's take two investors, both starting with CHF 100,000.

• Investor A (Growth)7% annual capital gains, no dividends
• Investor B (Dividends)7 % annual dividend, reinvesting p.a. fully taxable at 25 % (effective tax rate) = (7% *0.75 = 5.25% effective return), no capital gains

After 20 years the result is

• Growth portfolio386'968.45CHF (tax-free)
• Dividend portfolioCHF 278,254.45 (reinvested after tax)

Difference: almost CHF 110k - only because of the tax effect and the corresponding reduction in performance.

*The assumptions are exemplary, wealth tax ignored, moneyland calculator as source. I realize that performance can also be achieved with a high divi, etc. Don't hang yourselves and me on it 😉

So, $NVDA (+0.04%) or $JEGP (-0.52%) for you?

Why dividends can still make sense

Despite the tax disadvantage, dividends have their appeal for many investors, including me:

• Motivation & disciplineRegular distributions create a tangible sense of achievement
• Cash flow: Particularly valuable in retirement or on a reduced income
• Market psychology: In sideways or bear markets, dividends bring stability - perceived and real
• Historically stable companies: Many dividend payers are established companies with a robust business model

Investing in Switzerland is therefore often a gift from a tax perspective, especially for long-term investors with a focus on capital gains.

Anyone pursuing dividend strategies should be aware of the tax losses and weigh up whether cash flow or reinvestment has priority.

For me, it's the mix that makes the difference. With a dividend yield of around 2.7% across the portfolio, I feel comfortable, I am satisfied with my performance and the dividend growth is impressive. I'm not out to earn my living expenses through dividends. I go to work for that. My investments are intended as a cushion for PE investments, starting a business, buying a house or other "milestones" in life - or to make it easier to achieve these goals.

So, dear Swiss people, let me know what you think. Dear friends from near and far abroad: What's your situation?

Let's discuss over a fondue. 💕😉

Bonus, as promised:

Incidentally, taxes are not just a "cost factor", but also finance key elements of social welfare: in Switzerland, for example, the AHV, education, healthcare, infrastructure and security. According to the OECD, we spend around 28,000 CHF annually on state benefits - one of the highest figures in the world. This shows that What we pay in taxes does not flow into nothing, but contributes significantly to the quality of life, social stability and attractiveness of a location. Those who invest ultimately also benefit from it. At the end of the day, I am happy to pay taxes (but optimize wherever I can).

Happy investing

GG

#schweiz
#dividende
#steuern
#geldgenie #BestOfGG #wissen

Greetings :)

I'm almost too interested in the whole stock market topic. Over the last few weeks, I've been completely fixated on shares and finance.

Every day I've been following the posts on the platform, looking through all the portfolios and thinking about what to do next.

Sometimes I ignored the saying "time in the market beats timing the market" and unconsciously started gambling.

I thought about investment strategies every day. Sometimes I simply implemented crazy ideas, which I thought were stupid the next day.

My starting position was 4 ETFs. An All World, a Europe, an Asia and the Gerd Kommer ETF as mentioned in the previous post.

In the end, I decided on the $VWRL (-0.14%) . I sold each ETF to create 2 new positions with the total amount. $SESG (-1.76%) & $VNA (-2.04%) to open. The rest of the total amount was placed entirely in the ETF. I had been watching both individual stocks for a while now and had read up on them. I am convinced of both companies so far. Both make up 6% of the portfolio and will be added to later when the time is right.

In addition, I add $SIE (-1.59%) back into my portfolio via a savings plan. I save this position until it has reached a weighting of 10% in the portfolio.

Once this has been reached, I would like to take the same step with an insurer. However, I have not yet decided whether this will also be a German share like $ALV (-1.43%) or whether I will opt for a Swiss share like $SREN (-0.74%) will be chosen.

Besides, I still have stocks on the screen like $NVDA (+0.04%) | $AMD (+0.86%) | $GOOGL (-0.4%) | $BATS (+0.79%) | $KO (+0.39%) which I am actually convinced of, but am only observing for the time being.

Stocks like $KTN (+1.72%) | $RTLL (+0.64%) | $8001 (+1.06%) | $SOFI (-0.22%) | $6861 (+1.33%) are and will remain quite interesting, but I still have some uncertainties.

$BTC (+0.15%) will find its way into my portfolio sooner or later. Unfortunately, I don't have the money to open another position. So I'll wait and see

Brief battle plan:

• asset accumulation
• Higher savings plan + focus on one ETF
• Add or expand positions through dividends.
• Enforce 10% share limit
• Keep calm and don't become stingy again

Should work.

PS: the vacation pay thing was completely nonsensical.

Let's forget that, please :).

What does $NBIS (+0%) ? And what do they do differently from the big players like Google $GOOGL (-0.4%) , Amazon $AMZN (+1%) and new companies like $CRWV (-4.41%) and $IREN (-1.14%)?

Many people simply find it difficult to understand the business model. That's why I'll try to explain it in a way that even someone who has nothing to do with technology will understand.

Imagine the computer world as a huge playground where companies build super-fast machines to develop smart robots or cool AI games, for example an AI that paints pictures or can chat with you like a friend. $NBIS (+0%) is one of these companies, but it is special. Because they build their own slides and swings, i.e. their own infrastructure for AIs, and don't just use old, boring ones from others.

The fact that they build their own playground is VERY IMPORTANT and I'll explain why.

Once they've built this playground, they rent out these super-powerful computer parts - called GPUs (think of them as magical brains for AIs) - to people who want to use them to develop cool AI stuff.

The competition is other "playground builders", but big ones like $AMZN (+1%) (AWS) or $GOOG (-0.56%) (GCP) who build playgrounds for all kinds of games (not just AI), and smaller ones like $CRWV (-4.41%) or $IREN (-1.14%) who also focus on AI but have a different approach.

Like I said: $NBIS (+0%) builds everything themselves (a kind of "do-it-yourself" kit), unlike most others who buy pre-made parts from third parties. Nebius develops its own computers and software, specifically for AI. As a result, their machines run faster, consume less energy and cost less to rent. This is why Nebius' prices are 30-40% cheaper than AWS or GCP and the reason for these lower prices is important, as explained above. It's like building your own fast bike instead of buying a slow one from the store.

This also allows them to get the latest and greatest GPUs from Nvidia faster than others. Nvidia $NVDA (+0.04%) is also a partner (i.e. a buddy).

The big competitors like AWS or Google don't just do AI, but also a hundred other things, like storing your vacation photos or running websites for cupcake stores.

$NBIS (+0%) says: "No thanks, we only do AI!" and that's why their tools are particularly well suited to AI tasks, such as training or efficiently running smart bots.

It's like a store that only sells ice cream and therefore has the tastiest ice cream. Would you rather go there or to a supermarket that sells a thousand other things?

Or imagine a family doctor who can do a little bit of everything compared to a neurosurgeon who specializes in brain surgery. Who do you go to when you need brain surgery? Exactly.

Then you ask: What about $CRWV (-4.41%) and $IREN (-1.14%) ?

Imagine building your own playground, which costs a little more - but you also sell cupcakes, juices and summer drinks on the weekends. So you have a lot of savings and additional revenue streams to rely on if your playground ever needs more money. $NBIS has over $1 billion in cash and three other growing businesses, as well as 28% in a fourth company to fund their AI computing. This ability to raise capital quickly and without dilution is extremely important.

They build themselves.

They build efficiently.

They build faster.

They build cheaper.

They charge less money.

And they have enough money to build even more.

$NVDA (+0.04%)
$ARM (-0.07%)
$9984 (+1.44%)

Anyone who thought that NVIDIA would continue to cuddle up in its wedding bed with ARM while secretly displacing AMD GPUs must have missed the clattering in the RISC-V workshop. Because what has been quietly announced here is nothing less than a seismic tremor in the foundations of the AI infrastructure: CUDA is now running on RISC-V processors. This is not just a technical curiosity, but a strategic broadside against the architecture duopolists x86 and ARM. And exactly where it hurts the most, in the heart of the AI power centers: data centers, edge computing and AI accelerator solutions.

What happened?

RISC-V happily announces that NVIDIA's CUDA, the undisputed control center for GPU-based AI computing, now runs on RISC-V-based host processors. Anyone who thinks this is a clumsy port for hobbyists is very much mistaken: this is an official NVIDIA free pass for the open source architecture, coupled with the license for integration into professional AI workloads. In technical terms, this means that RISC-V can function as a system processor in CUDA-based AI setups in future. The GPU part remains with NVIDIA, but the control? From now on, it can do without Intel, AMD or ARM.

What's behind this?

License-free ISA = more margin, more control

RISC-V is free - and in a world where ARM wanted to be taken over by NVIDIA (and failed), that's a poisoned offer: complete freedom without license fees. Perfect for start-ups, China and anyone who is fed up with Western-priced license models.

Scalability without ballast

The modular structure of RISC-V allows you to build exactly what you need - no more and no less. No unnecessary silicon ballast, no incompatible license clutter.

Entry ticket to new markets

Edge AI, dedicated AI SoCs, scientific data centers - wherever ARM or x86 are used today, there could be a RISC-V variant with CUDA support tomorrow. With the Wormhole n150/n300, Tenstorrent, for example, shows what happens when you put a RISC-V kit in Jim Keller's hands.

Why this is explosive

For Intel & AMD: You lose the last bastion - control via the host CPU. The GPU belongs to NVIDIA anyway. Now they are also losing the processor share in the AI market.

For ARM: The long-held narrative of the "energy-efficient future of servers" is being dented. If even NVIDIA, once almost the owner of ARM, is now embracing RISC-V, you can imagine how much trust there still is in SoftBank & Co.

For China: Jackpot. RISC-V is open, free, developer-friendly - and now also CUDA-compatible. Who still needs Western CPUs when their own SoC will soon be fully AI-capable?

NVIDIA: The laughing third

You could almost applaud: NVIDIA is securing control of the software ecosystem (CUDA) while strategically emancipating itself from hardware partners. The host processor? Interchangeable. The GPU? Stays green. It's brilliantly opportunistic - and a quiet but effective form of platform cannibalization.

What remains critical?

RISC-V is open, but not finished. Toolchains, debugging, compilers, OS support - all this is still lagging behind the industrialized ARM/x86 world. Furthermore, as long as CUDA runs on NVIDIA hardware, the golden cage remains - except that the grids are now made of RISC-V.

The first real break with the architectural monopoly

What we are seeing here is not a technical gimmick, but a strategic bang. With CUDA, RISC-V gains access to one of the most important AI ecosystems in the world. ARM and x86 are losing their exclusivity in the most lucrative technology field of the decade. And NVIDIA? Taking the opportunity to finally become the center of the AI world - regardless of the processor substructure.

Source: RISK_V via X

https://www.igorslab.de/cuda-auf-risc-v-nvidias-stiller-dolchstoss-gegen-das-x86-arm-kartell/

If you look at the stagnation of the share, despite the importance of the mechanical engineering company, you might ask yourself: Why isn't the share performing? I asked myself the same question and therefore made some basic assumptions. We look at the fair value, once conservatively and then the base case. This is what we came up with:

And what can we say: in the conservative DCF model, ASML is pretty close to fair value . This means that the current valuation leaves hardly any room for further growth; any increase in value would have to come primarily from the company growing into the current valuation.

The base case looks somewhat different: Here, the share is slightly undervalued. Looking at more optimistic scenarios, the value even moves towards EUR 900+.

According to Morningstar, the fair value is even EUR 820, which is perhaps a small consolation for those who are worried.

The share also had to cope with a lot of negative news. The EUV sales ban to China, the tariffs and customer problems are clearly noticeable in such a complex company. If you would like to take a closer look at the figures and their impact, there may be a post, depending on who is interested. $ASML (+1.23%)
$NVDA (+0.04%)
$TSM (+0%)

Hi, I am going to share, after the last changes, the current portfolio, with a one year investment term forecast.

Thanks to your advice, I reduced the TER of the main investments (grouping funds in the same MSCI World) and modified the ETFs with approximate term of 3 months in them.

Current portfolio:

Fund (75%)

$J6FF22

Equities (15%. Half-year fixed basis)

$IDR (-1.74%)

$NVDA (+0.04%)

$MTN (+1.47%)

$1810 (-0.01%)

$BHP (-1.07%)

...

(Partial purchase, subject to short term evolution)

$HSBA (+0.63%)

$NEE (-1.11%)

(Minimal purchase. Subject to short/dividend performance)

$PKO (+2.69%)

$SQ (+0.58%)

$2899 (-0.14%)

ETF (Investment plan, subject to change depending on performance) 10%.

$IVDF (-0.1%)

$C051 (-0.41%)

$EIMI (-0.25%)

$SUJD (+0.55%)

$CEA1 (-0.27%)

$VEUR (-0.53%)

$NRGT (-0.96%)

$GCLX (+0.57%)

Cryptos: (experimental, less than 5%)

$BTC (+0.15%)

$ETH (+1.88%)

$TRX (+1.44%)

I welcome your suggestions for improvement.

Best regards.

$ASML (+1.23%)
$ASML (+1.48%)
$ASMLF

• Revenue: €7.69B (Est. €7.51B) ✅; +23% YoY
• EPS: €5.90 (Est. €5.22) ✅;+47% YoY
• Gross Margin: 53.7% (Est. 51.9%) ✅; +220bps YoY
• Net Bookings: €5.54B (Est. €4.80B) ✅; -0.5% YoY

Guidance

• FY25 Revenue Growth: ~15% YoY (Prior: €30-35B)
• FY25 Gross Margin: ~52% (Prior: 51%-53%)
• Q3 Revenue: €7.4B-€7.9B (Est. €8.21B)
• Q3 Gross Margin: 50%-52% (Est. 51.4%)

Comment from the CEO:

• "Tariffs were slightly less negative than we expected."
• "We are preparing for growth in 2026, but cannot confirm this due to the increasing uncertainty."
• "Gross margin was above forecast due to higher upgrade business and one-off promotions."

• "The introduction of EUV and High NA is progressing as planned; the first EXE:5200B system has been delivered."

✌️

$NVDA (+0.04%)
$AMD (+0.86%)
$TSM (+0%)

Today was the day: my net assets - excluding collector's items and pension assets - exceeded the CHF 200,000 mark for the first time. A brief moment, a quiet smile. 😃🥹 Special thanks today to $NVDA (+0.04%) AND $DRO (-10.71%) - but also to all the other fast horses in the stable.

It's not about prestige or status, but about the feeling that foresight and discipline pay off. That regular reflection, investment and perseverance pay off - especially when it doesn't feel spectacular in the meantime. And yet: filthy lucre is not everything. Life is happening now. You should not only set yourself goals, but also pause when milestones are reached - whether big or small. That's why I always take time out and go on short trips.

My priorities will shift a little in the coming months. Due to an upcoming job change (destination unknown^^), the possible founding of a start-up (just got out of the call) and possible further training, the topic of liquidity will become more important. Instead of investing in new positions, I will build up targeted reserves and further reduce existing liabilities, Lombard loans. Should liquidity become necessary in the short term, the plan is to first of all adjust the portfolio selectively, especially for smaller positions that are no longer strategically relevant. Until then, however, I will let everything run its course.

The portfolio performance currently shown is around 98 percent correct? Short put positions are recorded irregularly and are missing as another small performance driver, long calls are only occasionally adjusted to market prices - as no connection is possible.

In the coming weeks, I would like to provide more insight into topics that are currently on my mind:

How do I plan liquidity and budget in phases of professional change?

How do I incorporate options into a long-term investment strategy without turning it into gambling?

Which structured products do I find useful - and where are the pitfalls?

Which bank offers in Switzerland are really worthwhile depending on the strategy? I regularly go over the books - and sometimes inertia prevents me from switching. 😅

I'd also like to talk to you more. What interests you? What topics are you missing in the world of GetQuin? Feel free to get in touch. And @DonkeyInvestor Don't you dare steal topics. 🤪 By the way, where is my screenshot post? 😂

For today, I'm left with a feeling of gratitude. Building wealth is not a competition, but an individual journey. Everyone goes about it differently - with different goals, time frames and opportunities. And even if CHF 200,000 is only a snapshot, it shows that progress is being made. Just (too) slowly ^^

Think long-term, stay flexible, don't forget about life. That's what matters to me. And posting here and there 😉

Happy investing

GG

PS:

Small positions are leftovers and drops.

Some gambles or corpses.

Convinced by the current positioning.

CHF investor, so I don't really care about EUR or USD performance (even if probably better than in CHF 🥲)