$RHM (-0,24 %)
#meme
#memes

Hello everyone,

I have been following this forum for some time now and have decided to present my experiments and current strategies.

On the one hand, because I want to avoid losing track of things, and on the other hand, to prepare my thoughts for myself and also to get other perspectives and opinions.

Briefly about myself

I am 22 years old and graduated last year with a Bachelor of Engineering in Energy Technology.

I am currently working in a medium-sized company in the energy industry in Germany.

I have been rather frugal with money since I was a child. As I got older, my interest in increasing money wisely grew.

I was also lucky that my uncle opened a junior custody account for me when I was born. As a result, at the age of 18 I already had a small starting portfolio worth around 3,000 euros.

At the beginning, I focused intensively on precious metals and also invested in them. I don't plan to touch these holdings in the long term. If I don't need them, I see them more as a legacy for the next generation. I will buy more from time to time.

Basic start

As a first step, and I am aware that this will be assessed differently, I have taken out a unit-linked pension plan with the savings bank, which I save 150 euros per month.

I also took out a building society savings plan, as I basically want to buy my own home in the long term. I am currently renting.

The building society saver is also 150 euros per month per month.

At the same time, I have been working with neobrokers, from which my current portfolio has gradually developed.

Yes, there are still quite a few stocks in it at the moment. I will probably clean that up in the long term.

1st approach, accumulating ETFs

My first approach was to invest in classic accumulating ETFs.

• World, $XDWD (-0 %)
• Emerging markets, $EIMI (-0,61 %)
• AI and big data, $XAIX (-0,3 %)

Smaller side bets were added later.

• Armaments, $DFEN (+0,39 %)
• uranium, $U3O8 (+4,26 %)
• batteries, $BATG (-1,7 %)

I also bought my first individual shares to gain experience. Among other things, I had success with $RHM (-0,24 %) . At the same time, I learned how quickly losses can occur if you are not sufficiently diversified, for example with $ABR (-2,87 %) ,$1SXP (-0,07 %) and other stocks.

This ultimately led me to my second approach.

2nd approach, dividend strategy

As I already have a pension plan through LBS and don't want to be the richest man in the cemetery, I focused more on a dividend strategy.

The first attempt consisted of the following combination

• $ISPA (+0,14 %)
• $VHYL (+0,1 %)
• $ZPRG (-0,06 %)

The idea came from a business magazine and was aimed at making monthly distributions as even as possible. I also added $QYLE (+0,17 %) to gain initial experience with option strategies.

However, as this combination is only diversified to a limited extent and I deliberately wanted to move away from the USA, I adapted my strategy further.

Current strategy

Fixed savings rates

• LBS, retirement provision, 150 euros per month
• Building society, residual debt for future home ownership, 150 euros per month

Dividend strategy with 115.24 euros per month

• $XDWL (-0,05 %) , 34 percent
• $IEEM (-0,47 %) , 26 percent
• $XAIX (-0,3 %) , 13 percent
• $EXSH (+0,54 %) , 26 percent

Side bets with 81 euros per month

• $DFEN (+0,39 %) , 62 percent
• $BATG (-1,7 %) , 10 percent
• $QYLE (+0,17 %) , 25 percent

Trading 212 experiment with 100 euros per month

Here I am pursuing the goal of bundling individual shares in a common pot, partially saving them and automatically reinvesting distributions in order to benefit from the compound interest effect in the long term.

I welcome tips and constructive criticism so that I can continue to improve my strategy.

Best regards

Mister Kimo

What happens if you invest too little for years? There is a need to catch up.

And that is exactly what happened to many countries within NATO. When Russia's war of aggression made it clear that even the theoretical investment target for armaments of 2% was far too low, the countries were completely overwhelmed.

As a result, all companies only remotely involved in armaments went up: $RHM (-0,24 %)
$ONDS (-5,38 %)
$MILDEF (+6,74 %)
$AIR (+0,91 %)
$BA. (+2,11 %)
$HAG (+3,24 %)

But even before the Russian war, there was already a problem with security spending within the EU: "capital formation" spending, which primarily includes long-lived military expenditure, was around 20% within Europe for a long time. In the USA, which is regarded as a model pupil for security spending, this figure is 40%.

And this is where Mildef comes into play. A Scandinavian company that, in my eyes, still flies somewhat under the radar. Mildef produces IT hardware for the military and defense (which is part of the 20%). As the company itself describes its business model very well, here is the graphic from the investor presentation:

What is not shown is the fluctuation in demand, which is caused by being relatively at the beginning of the value chain:

This bullwhip effect can also be seen in many other sectors, especially in industry, where many value creation steps build on each other. We are currently at a peak in demand from the consumer side. This has already been priced into the stock market for many companies, but not yet to the same extent for Mildef. In addition, spending is set to rise from 1% of GDP to 5% in many countries. Of course, these tasks will also flow into the countries' infrastructure, but I think it will quickly become clear that there is a need to catch up AND that there is long-term sustainable demand.

Mildef: Small but mighty

Mildef occupies a small niche within the defense industry with its products. It is not worthwhile for many large corporations to enter niches, as the investments are greater than the revenue opportunities. In addition, Mildef has little competition from smaller companies. Why?

The industry is strictly controlled. Although anyone can take part in a military tender, there are special regulations that are difficult to fulfill without special expertise. There is no cheap competition from Asia, as suppliers from Europe are preferred for security products. This is the reason for EBIT margins of more than 10%.

Regional distribution of sales

Sales are generated primarily in the Nordic countries. However, a new acquisition will soon change this. More on this in a moment.

Growth targets

The management has ambitious growth targets. In recent years, these have been achieved or significantly exceeded. Average sales growth over the last three years has been over 40% per year. I also expect sales growth of more than 40 % YoY for the current financial year. This is due to the Roda acquisition. More on this in a moment.

The EBIT margin of over 15% has not yet been achieved. Mildef likes to calculate with highly adjusted figures. However, the deviations from reality are so great that I would rather regard the 15% as a long-term target. EBIT is not particularly stable overall, but this is justifiable in view of the growth ambitions. However, this makes it more difficult for the valuation.

Roda takeover

Roda will bring further significant growth in FY 2025. The business model is similar to that of Mildef. Since a large part of the sales for 2025 is already known, I have tried to estimate the total growth and arrive at around 57% growth with the current 9M figures, Q4 from 2025 and a quarter of Roda's annual sales. The calculation is highly simplified. Sales could grow much faster in the last quarter.

Financial impact of the Roda takeover

Although debt has doubled, at around 1× EBITDA it is completely 1× EBITDA, however, it is completely within reasonable limits. This is due to the fact that the takeover was partly financed with new shares. Shareholders were diluted by 18%. As an investor, you don't like to see that at first, but the takeover was strategically very important: Mildef was previously mainly active in Scandinavia. The Roda takeover gives the company better access to the rest of Europe.

Valuation

Valuing Mildef is not easy. This is not because future sales are difficult to estimate. Backlog and conservative assumptions make it easy to do.

The problem, however, is choosing a sensible multiple. Typically, you are looking for

• a constant, predictable key figure (such as EV/sales, P/E ratio, etc.)
• Companies from the same market
• Companies with similar growth

Due to the Roda acquisition and the generally strong growth the EBIT margin fluctuates strongly. I do not wish to use the adjusted management figures as they are adjusted accordingly.

There are also hardly any comparable companies. Mildef is active in a niche market. Although there are similar companies, they either lack growth or have lower margins. Both factors directly influence the multiple paid on the stock exchange.

In the end, I opted for a P/E valuation. However, this method has weaknesses, mainly because turnover is a very simple key figure.

In my model, I arrived at an expected return of 18.7 %. What is important here is that the growth assumptions for the future are significantly lower than those of the management.

I used EBIT as a second valuation approach. This resulted in a return of only 4.4 % per year. However, as already mentioned, EBIT is not stable and therefore probably not a suitable estimation parameter.

So which valuation makes sense?

I do not know. However, it is clear that the return will be very low or very high depending on the assumptions. Hence my question to the community: Which valuation method makes sense here? Perhaps you know an approach that fits better?

Thank you very much for reading. I wish you a Merry Christmas and a relaxing break from the stock market🎄

As always, I look forward to your feedback. Criticism is also welcome, after all, we all want to improve :)

p.s: I always find the overview of long posts here not so good, so I try to keep the introductions short. There is of course a lot more to say about Mildef. How do you see it? Do you prefer detailed posts or do you like it a bit clearer?

After a stable October (+6.2%), there was a clear countermovement in November.

My portfolio fell to 39.328€ and was thus -3,9% compared to the previous month.

The main drivers were the strong sell-offs in AI software, uranium, mining and defense - precisely those areas that are overweighted in my allocation.

Despite the setback, the year as a whole remains strong:

👉 Year-to-date I am still at +20.4% - solidly in the green.

1st performance & comparison 🚀

November was clearly characterized by risk-off mode. While broader indices remained stable, highly volatile future themes corrected much more strongly.

My portfolio:
-3,9%

NASDAQ 100:
-2,56%

S&P 500:
-0,49%

DAX:
-0,55%

FTSE All-World:
-0,48%

The underperformance is fully explainable:

Uranium, AI software, bitcoin mining and defense were under pressure - all segments that my portfolio partly tracks. But we remain calm and use attractive setbacks to buy.

Positive:

The long-term trend structure remains intact, YTD +20,4% clearly show: The overall path is right.

2. my savings plans & allocation 💶

The focus remains unchanged on strategic liquidity and consistent allocation.

Important in November:

👉 I bought Bitcoin for the first time.

This expands my structure specifically in the direction of digital assets - a building block that has shown relative strength despite market volatility. We entered at €74665 and are trying to use the 30% drop since the ATH to build up a small anti-cyclical position.

My savings plans are continuing as usual and remain the tactical tool for exploiting market opportunities in a disciplined and unemotional manner.

3rd top mover in November 🟢

The month was led by Nubank ($NU (+0 %)), which was up +8,06 % benefited from strong user numbers and continued high demand for credit in Latin America. Berkshire Hathaway ($BRK.B (+0,16 %)) gained +7,40 % driven by solid insurance profits and defensive positioning in the current market environment.

American Lithium (+4.44 %) showed a technical recovery, while the Bitcoin purchase ($BTC (-0,18 %)) in my portfolio with +3,39 % had a direct positive effect. Also small caps (MSCI World Small Cap ($WSML (+0,31 %)) +1.31 %) also performed stably. Tomra Systems ($TOM (-0,13 %)) rounded off the list of winners with a slight gain of +0,28 % driven by an incipient recovery in demand in the recycling segment.

4th flop mover in November 🔴

The month was much weaker for my highly volatile AI and energy segments.

IREN ($IREN (+10,84 %)) fell by -21,27 % the strongest - burdened by pressure in the mining sector and falling BTC margins. Also Cloudflare ($NET (+0,16 %)) also fell -21,19 % triggered by risk-off in the entire software/infrastructure tech sector.

The VanEck Uranium ETF ($NUKL (+2,2 %)) slipped -17,48% after falling spot prices and geopolitical uncertainties led to widespread profit-taking.

Tempus AI ($TEM (+1,67 %)) (-13,24%) and Rheinmetall ($RHM (-0,24 %)) (-12,99%) suffered from a general revaluation of growth and defense stocks. Mercado Libre ($MELI (-0,79 %)) closed the month with -10,00 % also significantly weaker, weighed down by consumer data from Latin America.

5. conclusion 💡

November was a classic rotation month: risk-off in speculative future themes, stability in value, fintech and more defensive positions.

❓Question for the community

Which position surprised you the most in November - positive or negative?

👇 Write it in the comments!

Bitcoin has caused a significant correction in the portfolio, which is nothing unusual given the high weighting.

In November, there were more purchases in the energy sector ($EQNR (+2,37 %)
$AKRBP (+2,69 %)
$CNQ (+0,2 %) )

With $RHM (-0,24 %) I also took advantage of the sell-off and now hold 15 shares.

In addition to Bitcoin, my overall allocation is still overweight in the AI, defense and energy (oil/gas) sectors.

Cash is at ~16%, with a downward trend.

That's it already!

Have a relaxed Tuesday evening 🍻

00:00:00 Silver $SSLN (-3,11 %)

00:44:00 Becoming a trader

00:48:40 Rheinmetall $RHM (-0,24 %)

01:38:40 DroneShield $DRO (+7,43 %)

Spotify

https://open.spotify.com/episode/7qh4ye7hYPVwZxw0VEky8P?si=4RsSxQT4ROuOc8FVziuCxw

YouTube

https://openyoutu.be/7-m6Hvf58ic

Apple Podcast

https://podcasts.apple.com/de/podcast/121-rheinmetall-silber-droneshield-trader-werden/id1695869891?i=1000739269539

#silber
#rheinmetall
#ukraine
#russland
#silver
#edelmetalle

Window dressing is currently a major topic. While the poorly performing shares are being sold, the HIGHLY performing shares are very interesting for institutional traders and fund managers at the end of the year - the strength should continue to be bought!

I have brought two stocks with me today ($BE (+7,06 %) and $RHM (-0,24 %) ), which definitely offer opportunities;

https://www.youtube.com/watch?v=MS8cxiXIwyE&t=5s

What do you think about these two stocks?

$RHM (-0,24 %)

Eight meters long, weighs 4.5 tons

Germany is testing a new underwater drone in the Baltic Sea that protects pipelines and power lines. The "Greyshark" operates autonomously, stealthily and with a long range.

The company Euroatlas is currently testing a new German underwater drone off the German Baltic coast. The autonomous vehicle, an almost eight-metre-long and more than four-tonne unmanned mini-submarine called "Greyshark", is designed to make the Baltic Sea safer.

"Greyshark" to monitor critical infrastructure

Since the beginning of the Russian war of aggression against Ukraine, damage to power and data lines and pipelines in the Baltic Sea has been increasing. The "Greyshark" is intended to help monitor this infrastructure reliably, reports the news agency Reuters. Euroatlas CEO Eugen Ciemnyjewski explains the special features of the underwater drone: 'I don't think you can compare an aerial drone with an underwater drone. It's a completely different domain, with completely different requirements. Also what you want to do and can do with it. It's basically physics."

Special camouflage capability: the "Greyshark" is barely recognizable underwater

According to Euroatlas, the "Greyshark" reaches a speed of up to 10 knots (18 kilometers per hour) and can travel up to 1100 nautical miles (2037 kilometers) thanks to a specially developed hydrogen system.

The drone not only monitors pipelines, but can also detect mines and be used in anti-submarine warfare. Military experts particularly emphasize its stealth capability: the "Greyshark" is barely recognizable under water - a decisive advantage for security-relevant missions.

https://www.focus.de/wissen/technik/greyshark-die-unterwasserdrohne-die-unsere-ostsee-sicherer-machen-soll_1c3a4573-d99b-4560-bcca-f9a00fb9e234.html

Rheinmetall cooperates with EUROATLAS

Rheinmetall and EUROATLAS enter into strategic partnership

- GREYSHARK™ autonomous underwater vehicle to be integrated into Rheinmetall's Battlesuite™

- Cooperation aims to strengthen Europe's maritime security and technological sovereignty

https://www.finanzen.net/nachricht/aktien/unterwasserfahrzeug-aktien-von-rheinmetall-renk-und-hensoldt-im-fokus-rheinmetall-kooperiert-mit-euroatlas-00-14695581

I treat myself to a share in a cornerstone of European security. $RHM (-0,24 %)

💪🚀

50-Weekly SMA tapped:

Stories from the chart Rheinmetall - Rausmetall

$RHM (-0,24 %)

In 2024, I secured a few Rheinmetall shares in my savings plan. Thanks to a few minor setbacks, the average purchase price at the end of the day was just under €500.

When total customs war was declared in April 2025 and many shares crashed, I thought: It's going to be really bad and sold Rheinmetall. Secure profits...

But then I felt a bit stupid for a long time 🤷🏼‍♀️. Rheinmetall went up and up and up. And I could have made another 100% return. But now the share is getting closer and closer to my sell price of €1304 and I'm starting to feel better 🥲