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50The IT service provider Bechtle ( $BC8 (+0,65 %) ) is seeing a revival in demand after a prolonged lull:
Since September 1999, Bankhaus Metzler has published a list of ten German shares that it recommends for the following quarter. Since then, this top ten list has achieved a return of more than 600 percent. In the same period, Germany's leading index, the Dax, gained around 350 percent.
The research team has now published the top 10 for the third quarter.
$DB1 (-0,14 %)
$MUV2 (-0,91 %)
$SIE (+0,55 %)
$BC8 (+0,65 %)
$EVK (-0,15 %)
$JUN3 (+0,77 %)
Source: Handelsblatt, 04.07.25
2025 - It remains a wild rollercoaster ride. On April 2, Donald Trump sends everything that is not gold on a downward spiral.
And just a few weeks later, investors in the US / in US dollars at least might ask themselves: Tariffs, was there anything at all?
The US indices S&P 500, Dow Jones and NASDAQ have returned to their pre-Liberation Day levels of early April and have recovered all their losses.
Unfortunately, things look somewhat worse for us euro investors due to the strong depreciation of the dollar. An S&P 500 ETF in euros is still around 6% below its level at the beginning of April.
Monthly view:
Nevertheless, there was also a real race to catch up in my portfolio in April. While my portfolio had lost ~10% in March, at the beginning of April there were again price losses of almost -11% on the board. In total, this amounted to ~€70,000 in price losses.
After that, things picked up significantly and April closed with only -3,4%.
This corresponds to price losses of over 11.000€.
The MSCI World (benchmark) was -5.1% and the S&P500 -1.1% (in dollars, for euro investors it was more like -6%).
Winners & losers:
A look at the winners and losers shows a much more balanced picture in April than in March:
On the winner side the top 5 are my two cybersecurity investments with Crowdstrike $CRWD (+0,49 %) in 1st place and Palo Alto Networks $PANW (+0,46 %) in 4th place. 2nd place goes to Bitcoin $BTC (+1,56 %)
, which finally lives up to its status as "digital gold" this month.
The top 5 is completed by MercadoLibre $MELI (+0,39 %) in 3rd place and Bechtle $BC8 (+0,65 %) in 5th place.
Now a look at the losers' side:
1st and 2nd place go to Starbucks $SBUX (+0,24 %) and NVIDIA $NVDA (+1,05 %) with losses of €1,300 each. In 3rd place follows Meta
$META (+0,4 %) with losses of €1,200, despite the strong quarterly figures at the end of April. Places 4 and 5 then go to two healthcare stocks with Amgen $AMGN (+1,09 %) and Thermo Fisher $TMO (+0,11 %)
The performance-neutral movements in April were € 650 - these are still lower at the moment due to the issue of house building.
current year:
In the YTD my portfolio is still clearly in the red with -12,4%. The MSCI World is still slightly better at -10.6%.
In total, my portfolio currently stands at ~252.000€. This corresponds to an absolute decline of ~€33,000 in the current year 2025. -37.000€ of this comes from exchange rate losses, slightly offset by ~1.200€ from dividends / interest and ~2.600€ from additional investments.
Dividend:
Buying & selling:
YouTube:
My portfolio update for April is now also available on YouTube (as usual). There I also discuss the impact of the US dollar in more detail.
Link: https://youtu.be/EeEZ4JveSec
Target 2025
I haven't really set myself any goals for 2025 due to the issue of building a house. A fixed savings rate is difficult to implement due to the issue (unforeseen costs and the like).
A dividend target will also be very difficult due to the high volatility of the US dollar.
That's why I'm focusing on other topics this year, especially building a house and possibly one or two YouTube successes.
How are things looking for you? Have you also felt the effects of the weak US dollar? Or are you now buying properly and taking advantage of the "strong euro"?
The German bank has now also used the coalition agreement and the associated special fund as the basis for a list of recommendations.
The result is a list of 10 potential profiteers.
The result:
$CBK (+0,27 %) - Commerzbank
$ENR (+1,03 %) - Siemens Energy
$VOS (+1,25 %) - Vossloh
$HEI (-0,13 %) - Heidelberg Materials
$EVK (-0,15 %) - Evonik
$KGX (+0,19 %) - Kion
$BC8 (+0,65 %) - Bechtle
$COK (+0,09 %) - Cancom
$VOW (+0,83 %) - Volkswagen
$PAL (-0,66 %) - Palfinger
Source: "Welt"
The ongoing tense economic situation is causing problems and a slump in demand for many companies. Bechtle Logistik & Service GmbH has now responded.
The ongoing tense economic situation is causing problems and a slump in demand for many companies. Bechtle Logistik & Service GmbH has now reacted by putting around 300 employees on short-time working, as reported by Channelpartner. The weekly working hours of the employees will be reduced by 20 percent. Salary losses would only be minimal, as Bechtle has voluntarily increased salaries. This is an important measure to secure the jobs of the employees.
The IT service provider Bechtle recorded a decline in earnings last year. The company announced in February that pre-tax profit for 2024 had shrunk by around eight percent year-on-year to around 345 million euros. The corresponding margin was 5.5 percent after 5.8 percent.
https://channelobserver.de/distribution/bechtle-kurzarbeit-bei-logistik-tochtergesellschaft-41449/
According to "Welt", companies active in construction, rail infrastructure, digitalization and the energy industry are considered to be beneficiaries of the debt pact. So-called green sectors are also likely to benefit.
A few examples:
$FAST (-0,12 %) - Fastned
$ACC - Aker Corp
$IOS (+0,19 %) - Ionos
$KTN (-0,26 %) - Kontron
$NDX1 (+0,03 %) - Nordex
$BC8 (+0,65 %) - Bechtle
$VOS (+1,25 %) - Vossloh
$S92 (-0,97 %) - SMA Solar
Despite all the debt euphoria, however, investors should bear in mind that the infrastructure companies are smaller stocks that are not without risk.
Source (excerpt) & chart: World
The multi-billion euro package for defense and infrastructure has cleared a decisive hurdle:
After lengthy negotiations, the parliamentary group leaders of the CDU/CSU, SPD and Greens have reached an agreement. The Bundestag could pass the package as early as next Tuesday.
The stock market reacted positively: $RHM (-2,73 %) rises by five percent, $SMA records a rise of six percent, $KGX (+0,19 %) rises by five percent, $TKA (+5,21 %) rises by six percent and $BC8 (+0,65 %) and can record an increase of nine percent.
If the Bundestag agrees, the bill still has to go through the Bundesrat. Here, too, a two-thirds majority is required for a resolution.
The negotiations took several days. Friedrich Merz had come a good deal closer to the Greens. On Thursday in the Bundestag, Merz offered to relax the debt brake not only for defense, but also for civil protection, civil defence and intelligence services. He also suggested earmarking part of the infrastructure loans for climate protection. However, the Greens had missed guarantees both for more money for the climate and that climate protection spending would actually increase.
Why is nobody talking about Bechtle?
Bechtle AG is a leading IT system house and e-commerce provider based in Neckarsulm, Germany. The company is active in two main business areas: IT services and solutions (system house business) and IT e-commerce (Bechtle Direct). Bechtle serves a wide range of customers, from medium-sized companies to large corporations, as well as public organizations and institutions.
Take a look at Bechtle!$BC8 (+0,65 %)
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- EXANE BNP raises the price target for ALLIANZ SE from EUR 271 to EUR 295. Underperform. $ALV (+0,47 %)
- BARCLAYS raises the target price for AIRBUS from EUR 166 to EUR 200. Overweight. $AIR (+0,99 %)
- UBS raises its price target for SAP from EUR 237 to EUR 283. Buy. $SAP (+1,69 %)
- BERENBERG raises the price target for LVMH from EUR 695 to EUR 720. Buy. $MC (+1,59 %)
- EXANE BNP raises the target price for MUNICH RE from EUR 550 to EUR 560. Outperform. $MUV2 (-0,91 %)
- RBC raises the target price for SIEMENS from EUR 205 to EUR 225. Outperform. $SIE (+0,55 %)
- CITIGROUP raises the target price for STELLANTIS from EUR 12.40 to EUR 13. Neutral. $STLA
- KEPLER CHEUVREUX raises the target price for DOUGLAS from 28.60 EUR to 29.90 EUR. Buy. $DOU (+0,23 %)
- CITIGROUP raises the target price for DWS from EUR 43 to EUR 44.70. Buy. $DWS (+1,41 %)
- CITIGROUP raises the price target for FRAPORT from EUR 62 to EUR 72. Buy. $FRA (-1,72 %)
- UBS upgrades AMADEUS IT from Neutral to Buy and raises target price from EUR 67 to EUR 80. $AMS (+0,69 %)
- DEUTSCHE BANK RESEARCH raises target price for PHILIPS from EUR 25 to EUR 26. Hold. $PHIA (-0,49 %)
- DEUTSCHE BANK RESEARCH raises the target price for MAN GROUP from GBP 2.65 to GBP 2.75. Buy.
- GOLDMAN raises the target price for RIO TINTO from GBP 67 to GBP 73. Buy. $RIO (-0,03 %)
- JEFFERIES raises the price target for SIEMENS ENERGY from EUR 31 to EUR 50. Hold. $ENR (+1,03 %)
- RBC raises the target price for SCHNEIDER ELECTRIC from EUR 195 to EUR 210. $SU (+1,9 %) Underperform.
- EXANE BNP upgrades HANNOVER RÜCK from Neutral to Outperform and raises target price from EUR 265 to EUR 285. $HNR1 (+0,69 %)
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- DEUTSCHE BANK RESEARCH lowers the price target for NOVO NORDISK from DKK 1000 to DKK 900. Buy. $NOVO B (+0,05 %)
- BOFA lowers the target price for RWE from EUR 44 to EUR 42. Buy. $RWE (+0,21 %)
- JPMORGAN lowers the price target for NETFLIX from USD 1010 to USD 1000. Overweight. $NFLX (+0,99 %)
- MORGAN STANLEY lowers the price target for SYMRISE from EUR 137 to EUR 130. Overweight. $SY1 (-0,19 %)
- KEPLER CHEUVREUX lowers the target price for REDCARE PHARMACY from EUR 145 to EUR 138. Hold. $RDC (+1,04 %)
- WARBURG RESEARCH lowers the target price for BECHTLE from EUR 51 to EUR 45. Buy. $BC8 (+0,65 %)
- STIFEL downgrades WACKER CHEMIE from Buy to Hold. $WCH (-0,39 %)
- RBC lowers the price target for DAIMLER TRUCK from EUR 55 to EUR 51. Outperform. $DTG (-1,49 %)
Part 5 of 5
/ Review of the year 2024: In the first 4 parts
of my investment story, I looked at the years 2013 to 2023.
A mixture of highs and lows. While there was a lot of learning at the beginning, the last few years are finally bearing fruit!
Monthly view:
2024 was another very positive year, although December again resulted in a slight loss in the portfolio.
In total, December was -0,8%. This corresponds to price losses of -3.200€.
The MSCI World (benchmark) was -0.9% and the S&P500 -2.5%.
In the following, however, I would like to look primarily at the whole of 2024 and not
just December.
Year as a whole:
Winners & losers:
The winner par excellence is hardly surprising NVIDIA $NVDA (+1,05 %) with
almost €20,000 in share price gains! And this despite the fact that I took my entire stake of ~€4,000 off the table in March.
In 2nd place follows Bitcoin
$BTC (+1,56 %) with approx. 6,000€ price gains. 3rd-5th place
are shared by TSMC $TSM (+0,8 %)
Alphabet $GOOG (+0,69 %) and Meta
$META (+0,4 %) with gains of ~€5,000 each.
On the loser side it looks very relaxed all in all.
Sartorius $SRT (-0,11 %)
Nike $NKE (+0,64 %)
and Bechtle $BC8 (+0,65 %) have each caused share price losses of ~€1,000. They are followed by LVMH $MC (+1,59 %) with share price losses of €500 and Amgen $AMGN (+1,09 %) with €200.
All in all, share price losses that are not really worth mentioning.
The performance-neutral movements in 2024 were just under €20,000. This is a significant decline compared to the almost €30,000 from previous years. This was due to some private issues and the upcoming house construction.
My performance for the year as a whole was +28,8% and therefore outperformed my benchmark, the MSCI World, by 25.8%.
In total, my portfolio currently stands at ~347.000€. This
corresponds to an absolute growth of ~95,000€ in the current
year 2023. ~71.000€ of which comes from price gains, ~3.800€ from
dividends / interest and ~20.000€ from additional investments.
Dividend:
Buys & sells:
- I bought in December for a significantly reduced ~500€
- As always, my savings plans were executed:
- Blue chips: Lockheed Martin $LMT (+0,57 %) Republic Services $RSG (+0,47 %) Thermo Fisher $TMO (+0,11 %) ASML $ASML (+0,37 %) Northrop Grumman $NOC (+0,2 %) Itochu $8001 (+0,83 %) Constellation Software $CSU (-1,33 %) Hermes $RMS Salesforce $CRM (+0,19 %) MasterCard $MA (+0,44 %) Deere $DE (+0,21 %)
- Growth: -
- ETFs: MSCI World $XDWD (+0,48 %) and the WisdomTree Global Quality Dividend Growth $GGRP (+0,46 %)
- Crypto: Bitcoin $BTC (+1,56 %) and Ethereum $ETH (+2,73 %)
- There were no further sales in December
Target 2024 & outlook 2025:
My goal for 2024 was to reach €300,000 in the portfolio. Due to the
extremely positive market performance in the current year, my portfolio stands at ~€ 350,000 at the end of the year. I was therefore able to significantly exceed my target.
What will happen in 2025? The logical target, of course, would be 400.000€ to be achieved. However, due to the upcoming house construction, part of the assets will be invested in the house construction. If I include the property in my statement of assets, the target of €400,000 would of course not change.
However, as I am more likely to be tracking my liquid assets here, I will probably
probably refrain from doing so.
Therefore, my year-end target for 2025 will probably be closer to the final balance for 2024. So around €350,000 at the end of 2025.
How are things looking for you? Have you already thought about your plans for 2025?
Finally, I wanted to say thank you again for all the positive reactions to my investment story!
https://linktr.ee/mister.ultra
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