⬆️⬆️⬆️

- GOLDMAN raises the price target for DELL from USD 155 to USD 165. Buy. $DELL (+2,56 %)

- GOLDMAN raises the price target for ANALOG DEVICES from USD 247 to USD 261. Buy. $ADI (+2,04 %)

- GOLDMAN raises the price target for HP INC from USD 35 to USD 38. Neutral. $HPQ (+0,51 %)

- WARBURG RESEARCH raises the price target for VONOVIA from EUR 40.20 to EUR 42.30. Buy. $VNA (+2,37 %)

- WARBURG RESEARCH upgrades STRATEC from Hold to Buy. Target price 40 EUR. $SBS4

- DEUTSCHE BANK RESEARCH raises the price target for DEUTSCHE BÖRSE from EUR 235 to EUR 237. Buy. $DB1 (-0,38 %)

- MORGAN STANLEY raises the target price for DEUTSCHE TELEKOM from EUR 33 to EUR 38. Overweight. $DTE (-0,92 %)

- GOLDMAN raises the price target for TRATON from EUR 31.80 to EUR 35.50. Neutral. $8TRA (-1,87 %)

- GOLDMAN raises the price target for BRENNTAG from EUR 94 to EUR 95. Buy. $BNR (+0,14 %)

- BERENBERG upgrades EQUINOR from Hold to Buy and raises target price from NOK 290 to NOK 325. $EQNR (-0,22 %)

- JPMORGAN raises the target price for BEIERSDORF from EUR 150 to EUR 160. Overweight. $BEI (-0,06 %)

- JPMORGAN upgrades HENKEL from Neutral to Overweight and raises target price from EUR 82 to EUR 100. $HEN (+0,54 %)

- JPMORGAN upgrades BRITISH AMERICAN TOBACCO to Neutral. $BATS (-0,24 %)

- JPMORGAN raises the price target for EON from EUR 15.50 to EUR 16. Overweight. $EOAN (-0,18 %)

- JPMORGAN raises the target price for AUTO1 from EUR 12.10 to EUR 17.10. Overweight. $AG1 (+3,11 %)

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- STIFEL lowers the price target for SIEMENS from EUR 207 to EUR 202. Buy. $SIE (-0,29 %)

- JPMORGAN lowers the price target for HP INC from USD 41 to USD 40. Overweight. $HPQ (+0,51 %)

- WARBURG RESEARCH lowers the price target for LANXESS from EUR 40 to EUR 37. Buy. $LXS (-0,26 %)

- CITIGROUP lowers the price target for BASF from EUR 49 to EUR 46. Neutral. $BAS (-0,12 %)

- RBC lowers the target price for COMMERZBANK from EUR 18 to EUR 17.25. Sector Perform. $CBK (-1,64 %)

- RBC lowers the target price for ING from EUR 17.50 to EUR 16.75. Sector-Perform. $ING (-0,67 %)

- RBC lowers the price target for BNP PARIBAS from EUR 79 to EUR 78. Outperform. $BNP (-0,42 %)

- JPMORGAN lowers the price target for ELRINGKLINGER from EUR 6.70 to EUR 6. Neutral. $ELLRY

- JPMORGAN lowers the price target for SYMRISE from EUR 130 to EUR 120. Overweight. $SY1 (-0,34 %)

Analyst updates, 15.11. 👇🏼

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- JEFFERIES raises the price target for ASML from EUR 760 to EUR 840. Buy. $ASML (-1,59 %)

- RBC raises the price target for TESLA from USD 249 to USD 313. Outperform. $TSLA (-4,58 %)

- JPMORGAN raises the price target for WALT DISNEY from USD 125 to USD 128. Overweight. $DIS (-0,24 %)

- JPMORGAN raises the price target for SIEMENS from EUR 215 to EUR 230. Overweight. $SIE (-0,29 %)

- BARCLAYS raises the target price for SIEMENS ENERGY from EUR 21 to EUR 35. Equal-Weight. $ENR (+2,08 %)

- LBBW raises the target price for EON from EUR 13.80 to EUR 13.90. Buy. $EOAN (-0,18 %)

- HAUCK AUFHÄUSER IB raises the target price for ADESSO from EUR 80 to EUR 85. Hold. $ADN1 (-0,76 %)

- DEUTSCHE BANK RESEARCH raises the target price for BURBERRY from GBP 7.40 to GBP 8.60. Hold. $BRBY (-0,11 %)

- BERENBERG raises the price target for TALANX from EUR 76.20 to EUR 91.10. Buy. $TLX (-0,96 %)

- BERENBERG raises the price target for HAPAG-LLOYD from EUR 163 to EUR 169. Hold. $HLAG (+1,67 %)

⬇️⬇️⬇️

- JPMORGAN lowers the price target for BAYER from EUR 34 to EUR 25. Neutral. $BAYN (+0,17 %)

- SANTANDER downgrades SHELL from Neutral to Outperform and lowers target price from GBP 30.50 to GBP 30. $SHEL (-0,74 %)

- WARBURG RESEARCH lowers the price target for SECUNET from EUR 216 to EUR 210. Buy. $YSN (+1,42 %)

- METZLER lowers the price target for SIXT-STÄMME from EUR 105 to EUR 95. Buy. $SIX2 (+0,72 %)

- ODDO BHF lowers the target price for MERCK KGAA from EUR 187 to EUR 176. Outperform. $MRK (-1,77 %)

- METZLER lowers the price target for SMA SOLAR from EUR 20 to EUR 16. Hold. $S92 (+0,6 %)

- DEUTSCHE BANK RESEARCH lowers the price target for GRENKE from EUR 28 to EUR 24. Buy. $GLJ (+0,79 %)

- BERENBERG lowers the target price for K+S from EUR 15.70 to EUR 14.70. Buy. $SDF (-1,31 %)

- BERENBERG lowers the price target for AUMANN from EUR 17 to EUR 14.50. Hold. $AAG (+3,07 %)

- BERENBERG lowers the price target for DERMAPHARM from EUR 58 to EUR 50. Buy. $DMP (-0,07 %)

- BARCLAYS lowers the price target for SYMRISE from EUR 123 to EUR 115. Equal-Weight. $SY1 (-0,34 %)

$EOAN (-0,18 %)

After the third quarter of 2024, we are still on track to achieve the Konzernziele for the year as a whole. This bereinigte Konzern-EBITDA is still in line with expectations at 6.7 billion euros and bereinigte Konzernüberschuss 2.2 billion euros after nine months, we are still in line with expectations. The ramp-up of the Investitionen our Group is making good progress. We were able to increase our investments in the energy transition by 20 percent compared to the same period last year: we invested around 4.7 billion euros in the first nine months, 3.6 billion of which in the grid business.

As expected, our adjusted Group EBITDA of around EUR 6.7 billion in the first nine months of 2024 was below the previous year's high figure, which was characterized by positive Einmaleffekte was characterized by positive effects (9M 2023*: EUR 7.8 billion). Adjusted for these one-off effects, the underlying EBITDA increased in the low triple-digit million euro range, in particular due to investment-driven growth. Business development in the first nine months thus confirms the picture that already emerged after the first half of the year.

Adjusted Group net profit amounted to around EUR 2.2 billion in the first nine months of the 2024 financial year (9M 2023*: EUR 2.9 billion) and was therefore also in line with expectations. We remain on track for the year as a whole and continue to expect adjusted Group EBITDA of between EUR 8.8 billion and EUR 9.0 billion and adjusted Group net profit of between EUR 2.8 billion and EUR 3.0 billion.

In the Geschäftsfeld Energy Networks, adjusted EBITDA in the first nine months was almost on a par with the previous year at just under EUR 4.8 billion (9M 2023*: EUR 4.8 billion). Temporary effects, particularly with regard to redispatch costs in Germany, had a significant positive impact on earnings in the same period of the previous year. In addition, the volumes transmitted were slightly below plan compared to the previous year. In contrast, higher investments in the growing grid infrastructure boosted earnings. The switch to the new electricity regulation period also led to a positive contribution to earnings, partly due to the increased regulated asset base and simultaneous reduction in imputed costs. Eigenkapitalzinssätze a positive contribution to earnings.

Source: Quartalsmitteilung Januar – September 2024

Summary Earnings, 14.11. 👇🏼

Siemens AG Q4 24 Earnings: $SIE (-0,29 %)

- Orders At 22.93Bln Euros (est 21.36 Bln Euros)

- Revenue Rising 1% To 20.81 Bln Euros (est 20.77 Bln Euros)

- Profit 3.12 Bln Euros (est 3.0 Bln Euros)

- Net Income Of 1.90 Bln Euros (est 1.80 Bln Euros)

Swiss Re Q3 24 Earnings: $SREN (+0,04 %)

- Net Income Of $2.2 Billion For The First Nine Months Of 2024

- 9m Return On Investments (ROI) Of 3.9%; Recurring Income Yield Of 4.0%

- Return On Equity (ROE) Of 13.4% For First Nine Months Of Year

- Still Expects To Achieve A Group Net Income Of More Than $3 Billion For 2024

- Currently Expects Losses Resulting From Hurricane Milton To Be Less Than $300 Mln, Which Will Impact Group Results In Q4 2024

E.ON SE 9M 24 Earnings: $EOAN (-0,18 %)

- Adj EBIT EU4.37B, -23% (Y/Y)

- Sales EU56.28B, -19% (Y/Y)

- Still Sees FY Adj EBITDA EU8.8B To EU9B, (est EU8.94B)

- Still Sees FY Adj Net EU2.8B To EU3B (est 2.92B)

Deutsche Telekom AG Q3 24 Earnings: $DTE (-0,92 %)

- Net Income EUR 2.957B (est EUR 2.396B)

- Adjusted EBITDA AL EU11.10B (est 11.05B)

- Rev EU28.50B (est 28.39B)

- Sees FY Adj EBITDA Al About EU43B

ASML is sticking to its long-term goals and plans to increase sales to between 44 and 60 billion euros by 2030, with a gross margin of 56 to 60 percent. Despite the current difficult market conditions, ASML CEO Christophe Fouquet sees promising long-term prospects for the semiconductor industry, especially due to the AI trend. $ASML (-1,59 %)

Talanx expects a record profit of over 1.9 billion euros for 2024 and a surplus of over 2.1 billion euros for 2025. The profit increase will be supported by primary insurance and new targets are to be presented at the Capital Markets Day on December 11. $TLX (-0,96 %)

Nagarro increased sales by 3.7 percent to 242.9 million euros in the third quarter and adjusted EBITDA by a good eight percent to 34.6 million euros. The company is adjusting its revenue forecast for 2024 to 960 million euros and expects an EBITDA margin of over 14 percent. $NA9 (+1,32 %)

Adesso recorded an increase in turnover of 15 percent to 330 million euros in the third quarter and a 37 percent rise in operating profit to 38.9 million euros. Jörg Schroeder will step down as Chief Financial Officer on April 30, 2025; his successor will be Michael Knopp from January 15, 2025. $ADN1 (-0,76 %)

Dermapharm increases turnover in the first nine months by just under three percent to 890.1 million euros, while adjusted EBITDA falls slightly to just over 240 million euros. However, consolidated net income rose to just under 93 million euros, and the Group CEO is optimistic for the final quarter. $DMP (-0,07 %)

Energiekontor sees itself on course for its annual targets after nine months with an expected pre-tax result of EUR 30 to 70 million, although the upper end of the range will not be reached due to the below-average wind year. Three projects with 79 MW have already been commissioned this year and several more projects are currently being marketed. $EKT (+0,05 %)

The financial services provider MLP increased revenue by twelve percent to EUR 746 million in the first nine months and EBIT by almost half to EUR 66 million. The company confirms its forecast for 2024 with EBIT of between EUR 85 and 95 million and expects EBIT of EUR 100 to 110 million in 2025. $MLP (+1,62 %)

GFT Technologies is again lowering its annual targets and now expects revenue growth of 10 percent to around EUR 865 million and adjusted EBIT of around EUR 77 million. Profit before taxes is expected to fall to around EUR 65 million, as the environment remains challenging and momentum in the coming months will be lower than expected. $GFT (-1,22 %)

ProSiebenSat.1 is lowering its forecast for the year due to weak TV advertising revenues and expects an adjusted operating result of less than EUR 575 million. The Group plans to sell Flaconi and Verivox in order to invest in Joyn, programs and debt reduction. $PSM (-1,4 %)

Wacker Neuson is again lowering its annual targets and now expects revenue of EUR 2.2 to 2.3 billion and an EBIT margin of 5.5 to 6.5 percent. In the third quarter, the company reports a drop in revenue of over 20 percent and a 61 percent fall in EBIT. $WAC (-0,93 %)

Cewe confirms its annual targets with sales of between 770 and 820 million euros and an EBIT of 77 to 87 million euros, with the upper half of the ranges being targeted. The company generates most of its profits in the Christmas quarter and posts a marginally positive EBIT in the summer quarter, despite increased marketing expenditure. $CWC (+0,88 %)

Merck KGaA reports a 1.8 percent increase in sales to 5.3 billion euros in the third quarter, while the adjusted operating result rises by 12 percent to over 1.6 billion euros. CEO Belén Garijo announces that sales for 2024 are expected to be in the lower half of the previous range. $MRK (-1,77 %)

Bilfinger records revenue growth of 15 percent to just under EUR 1.3 billion in the third quarter and increases operating profit by 35 percent to EUR 76 million, supported by good demand and the latest acquisition. The Executive Board confirms the adjusted annual targets with an increase in revenue to EUR 4.8 to 5.2 billion for 2024, also taking into account a savings program and special effects from the integration of Stork. $GBF (-0,43 %)

K+S is revising its production forecast for 2024 downwards due to high sickness rates and now expects an operating result (EBITDA) of around EUR 540 million. In the third quarter, the company reports a decline in sales and EBITDA, with profits exceeding analysts' expectations but remaining below consensus estimates for the full year. $SDF (-1,31 %)

After prolonged tensions and disagreements over the economic policy course, particularly with regard to the debt brake and investmentsChancellor Olaf Scholz effectively ended the traffic light coalition on November 6, 2024 with the dismissal of Finance Minister Christian Lindner (FDP) ended. The FDP then withdrew from the government and left the previous coalition with the Greens and the SPD broke up. Scholz sharply criticized Lindner's financial policy and accused him of using one-sided austerity policy the urgently needed modernization and promotion of growth in Germany.

In order to clarify the situation and "secure" the confidence of the Bundestag Scholz held a vote of confidence for January 15, 2025 has been announced. Should he lose this, the path for new elections would already be open end of March 2025 would be free. The CDU/CSU however, are calling for a quicker vote and are banking on new elections as early as January. Until the new elections, Scholz would form a minority government with the Greens would lead.

The upcoming new elections could lead to a clear change of direction in Germany. Currently, the CDU/CSU dominate the opinion polls with around 32%. Voters who are disappointed with the previous traffic light coalition could now switch to a more conservative, more business-friendly program program. It is assumed that the election campaign topics will primarily focus on economic policy issues. At a time when Germany is struggling with weak economic growth, investment laziness and infrastructural challenges issues surrounding the debt brakefinancing public investment and ways to revive the economy could play a central role.

The political instability could short-term put pressure on the DAX $DAX under pressure in the short term. The index recently reached 19,275 points, a record high. Especially the sectors automotive industry ($VOW3 (+2,71 %) | $MBG (-0,07 %) | $BMW (+0,87 %) ), the energy sector ($RWE (-0,18 %) | $EOAN (-0,18 %) ) and infrastructure companies could be affected by increased volatility due to their dependence on government increased volatility but this would also be limited.

At the heart of the crisis is the question of whether the debt brake can be relaxed in order to allow urgently needed investments in infrastructure, education and digitalization financing. The possibility of a new government pursuing a looser fiscal policy could have a positive effect on the German economy and remove barriers to investment. reduce barriers to investment reduce barriers to investment.

A clear economic policy signal after the new elections could boost the confidence of investors and the long-term growth prospects of Germany. Election campaign topics such as structural reforms, improvement the competitiveness and investments in a sustainable infrastructure could lead Germany into a phase of sustainable growth.

Unfortunately, the political crisis comes at a time of geopolitical change, particularly with Donald Trump's return to the White House. Germany's role on the international stage, especially in transatlantic transatlantic relations and in trade issuescould be influenced by this realignment. The possibility of punitive tariffs or changes in US policy could economic policy decisions and investment decisions German companies even more difficult.

Week in review 12.10.

All-time highs for S&P 500, Dow Jones, Air Products & Chemicals, American Express, Arista Networks, Bank of New York Mellon, BlackRock, Caterpillar, CAVA, Fiserv, GE Vernova, Goldman Sachs, Mastercard, Morgan Stanley, Motorola Solutions, Piper Sandler, Royal Caribbean, Uber, Unum

52-week highs for Carnival, Commerzbank, GE Aerospace, Hilton Worldwide, MicroStrategy, Norwegian Cruise, Palantir, Ralph Lauren, Robinhood Markets, Sea Ltd. , Shake Shack, Tangier, Teledyne

Tesla Cybercab / Robotaxi planned from 2026 for under 30,000$. In addition, an autonomous bus with 20 seats was presented, share falls -8.1%, market is disappointed, -19% 1-year performance

Nvidia partner Hon Hai increases capacity to meet "crazy" AI demand, Nvidia shares +8.3% this week, +176% 1-year performance

AMD unveils MI325X AI accelerator to compete with Nvidia's H200, customers include Google, Microsoft, OpenAI, Dell, Oracle, Meta, Hewlett Packard Enterprise, Supermicro, Lenovo and Databricks, AMD launches EPYC 5th Gen Datacenter CPU to compete with Intel's Xeon, AMD currently has 34% market share in Datacenter CPUs, MI350 coming in 2025 to compete with Nvidia's Blackwell, AMD stock drops -4%, apparently sell the news event, +45% 1-year performance

92% of desktop processor sales at major German online retailer Mindfactory were from AMD last week, Intel only at 8% share and -36% 1-year performance

TSMC with good quarterly figures, share price rises slightly, +97% 1-year performance

JPMorgan with good quarterly figures, share +5.1%, +48% 1-year performance

Wells Fargo with good quarterly figures, share +6.5%, +49% 1-year performance

PepsiCo and Samsung with poor quarterly figures, shares fall slightly

Amazon Pharmacy announces same-day delivery of prescription drugs in 20 more US states and expands its service to almost half of the states in 2025, +43% % 1-year performance

Jefferies says Apple's hopes for an AI phone are overdone and high expectations are premature, Hold rating, +26% 1-year performance

The situation is similar at Microsoft after Oppenheimer downgraded its rating from "Outperform" to "Perform", it was the second such downgrade by analysts in recent weeks, AI sales are overestimated and shares have underperformed since July due to "AI fatigue", plus losses at OpenAI, +26% 1-year performance

Two Google scientists from the subsidiary DeepMind receive the Nobel Prize in Chemistry, they developed the AI model "AlphaFold2", which can be used to predict the structures of all 200 million known proteins, the AI is used in 190 countries, for example in the clarification of antibiotic resistance or the use of enzymes to break down plastics, Alphabet shareholders like this, +12% 1-year performance

Inperial Brands increases dividend, now pays out quarterly and buys back shares, share price rises 5%, +36% 1-year performance

FTX - customers will soon get their balances paid out after the crypto exchange went bankrupt in 2022 and the management was imprisoned

Shortseller Hindenburg Research with allegations of fraud and safety concerns for children at gaming service Roblox, share price falls -6%, even -70% since November 2021

After two very positive weeks, China stocks fall like a flash in the pan as the market expected more stimulus from the Chinese dictator. Dictator, Hang Seng with worst day since the 2008 financial crisis, this week

China strengthens real estate sector and signals more spending ahead, Finance Minister announces measures to support real estate sector today and government would now have more room to borrow and increase deficit, China also announces issuance of special government bonds today to bolster capitalization of its largest state-owned banks, Printer is coming

Fitch downgrades France's credit rating to negative due to higher deficits, government debt expected to rise to 118.5% of GDP by 2028

FTSE Russell: Greek equities on track for upgrade to developed markets, FTSE Russell to provide update as part of March 2025 review, Greek equity index up 53% since start of 2023

Porsche sells 7% fewer cars due to China slump by -29%, -5% North America but +7% Germany & Europe, -21% % 1-year performance

Deutsche Telekom increases dividend and launches share buyback program for € 2 bn, highest share price in 23 years, +33% 1-year performance

Commerzbank reaches highest share price since the euro crisis in 2011, +61% 1-year performance

Bayer with new lawsuit in the USA over PCBs, share price -7%, -41% 1-year performance

German industrial order intake fell unexpectedly sharply by 5.8% in August compared to the previous month

E.on CEO expects energy prices to rise in the long term thanks to higher taxes & levies and the world's stupidest energy policy

The Ampel expects the economy to shrink for the second year in a row, revising its GDP forecast for 2024 from +0.3% to -0.2%, only the second consecutive year of shrinking GDP since the fall of communism in 1990

After the pension insurance, the German long-term care insurance is also bankrupt, as recipients of citizens' benefits are not paying in and society is ageing, Lauterbach therefore wants to increase the monthly contribution for long-term care for all workers, so soon less net from gross again

" If you want to read a review like this every week, leave a like and subscribe.

$NVDA (+2,01 %)
$AMD (-0,35 %)
$TSLA (-4,58 %)
$CBR
$INTC (+1,8 %)
$2330
$JPM (+1,21 %)
$WFC (+1,26 %)
$PEP (+0,05 %)
$AMZN (+0,26 %)
$GOOGL (+0,94 %)
$GOOGL (+0,94 %)
$AAPL (+1,34 %)
$MSFT (-1,05 %)
$IMB (+0,56 %)
$CNUA (-0,27 %)
$941
$9988 (-2,55 %)
$700 (+2,55 %)
$1211 (-0,27 %)
$P911 (-0,41 %)
$PAH3 (+0,42 %)
$DTE (-0,92 %)
$BAYN (+0,17 %)
$EOAN (-0,18 %)
$PLTR (+6,35 %)
$RBLX
$BLK

We have decided to halve our position in e.on.

For three reasons:

Significantly fewer electric cars will be sold than forecast. This means that electricity consumption will also increase less rapidly.

The ECB's interest rate cuts should cause grid fees to fall again in the medium term.

$EOAN (-0,18 %) has accounted for more than 10% of the weighting of our portfolios. Hence the partial sale now.

Of course, we will remain partially invested in Eon. We continue to believe that eon is a long-term beneficiary of the climate transition.

I used the strong price of $EOAN (-0,18 %) at [12.82€] to reduce the position somewhat and $MBG (-0,07 %) added at [62.29€].

The decision was based on the hope of achieving a higher dividend yield and adding another dividend payer to the portfolio. In addition, the #eon item had become too large in the portfolio due to the annual inflow.

[Joke mode ON]

I hope I'm not drawing a short circuit #eon and just under the wheels with the investment #mercedes

So, after my lukewarm stumble onto the stage of the community recently, now for real:

Hello everyone (friendly nods to all),

I've been a mostly silent reader for a while now, but I'd like to introduce myself - even if I don't know what I'm up to - in keeping with local custom:

I am 55 & a civil servant in the Federal Civil Service, which puts me in the fortunate position (I hope) of not having to rely on additional income from investments for a materially bearable retirement (in twelve years' time, I would just about reach retirement without deductions after 40 years in the civil service). Investment is therefore essentially a consumption alternative, a safety cushion and - later - intended for my sons (living with their mother, 17 & 13 years old; each with their own portfolios / savings plans). My investment horizon is therefore open ended (or determined biologically or by the legitimate major needs of the offspring).

My investment history - still perceptible in the portfolio presented here - begins in 1996/1997 with the first (and later unfortunately also the second) placement of the $DTE (-0,92 %) T-share and the IPO of $PSM (-1,4 %) ProSieben (which has since more than made up for its initial investment through dividends, good boy). At some point, he inherited the current e.on position from his grandparents $EOAN (-0,18 %) e.on position and a position in $VOW3 (+2,71 %) Volkswagen, which I sold several years later on the advice of my savings bank at the time (bygones).

Then nothing for a long time (studies/traineeship, career start - I was "investing in my current account" and couldn't even manage to process my business trip expenses on time, tststs).

With a wife and children came the need to make provisions (the little guys simply cost a tidy sum through the cycle), which I initially did through sporadic ad hoc investments:

In particular hubris, at the beginning of the subprime crisis I trusted the investment banks to have everything under control and bought shares in $DBK (-1,71 %) Deutsche Bank (close to ATH), Bear Stearns and Merrill Lynch (the relics can be found as a minus at $BAC (+1,1 %) Bank of America for Bear Stearns and - invisibly - a tax loss carryforward to offset the now quite respectable $JPM (+1,21 %) J.P. Morgan position for Merrill Lynch), $DBK (-1,71 %) with additional purchases slowly creeping back into a "perhaps at some point back to zero" zone.

Otherwise, a number of active funds ($n/a LU0557858130, $n/a LU1143163779, $n/a IE00BG7PHW03, $n/a LU1496713741, $n/a DE0008474750, $n/a GB0030932676, $n/a (-0,28 %) LU1864952335 and predecessors), of which only $n/a (+0,26 %) Pictet Water had actually performed noticeably positively on a time-weighted basis.

From around 2015, I then gradually started to populate the current portfolio with various equity and ETF savings plans at ING ($GOOG (+1,03 %) Alphabet C, $AAPL (+1,34 %) Apple, $KO (-0,4 %) Coca-Cola, $NESN (-0,19 %) Nestlé, $BAYN (+0,17 %) Bayer (ouch!), $SIE (-0,29 %) Siemens, $DIS (-0,24 %) Walt Disney, $PFE (+1,49 %) Pfizer, $PR1J (-0,65 %), $FLXC (+0,12 %), $FLXK (-1,12 %), $EXS1 (-0,44 %), $LCUK (-0,43 %), $C060, $XMUS (+0,28 %), $DBXW (+0,27 %), mostly at 50 euros/month), supplemented by a few nicely timed individual purchases in $AAPL (+1,34 %) , when it was still trading at around 80 euros before the 3:1 stock split, as well as $MT (-0,6 %) AcelorMittal and $BHP (-0,6 %) (mini position, but with a nice dividend yield since then).

With supply chain problems and inflation emerging at the end of corona/beginning of Ukraine, I then started to invest in another portfolio, the actually far too expensive $SPAG (-0,18 %) iShares Agribusiness and $EXV6 (-0,52 %) iShares STOXX Europe 600 Basic Resources as a hedge against the rising cost of living that had gone wrong (had bet on more pronounced sectoral greed-flation).

Since I have since followed the recommendations of $VWCE (+0,17 %) resp. $ACWI (Glashaus!) in the meantime, the aggregated lump and the $AAPL (+1,34 %) and $GOOG (+1,03 %) was getting a bit scary, but I didn't want to touch the corresponding equity savings plans (more on this in a moment), I put my basic trust in the long-term out-performance of the US equity market into practice by investing in two "equal weight" index funds, namely with $WEBA (+0,76 %) on the NASDAQ100 (also with a savings plan) and $XDEW (+0,67 %) on the S&P500 (one-off investment only).

Some of this, especially the earlier investment history, is foreign to my Getquin portfolio history, as I only entered this after a portfolio reorganization in early 2023.

Over the years, my employer has steadily introduced stricter regulations for private financial transactions, which currently makes it practically impossible for me to invest in individual names or funds with certain predominant industry shares. However, in an exemplary manner under the rule of law, previously existing savings plans were protected in the respective iterations of the tightening, so that I jealously continue the remaining share savings plans (see above lump at $GOOG (+1,03 %) and in particular $AAPL (+1,34 %)).

I currently save monthly as follows (savings rate): Grandfathering: $GOOG (+1,03 %) (100), $AAPL (+1,34 %) (50), $DIS (-0,24 %) (50), $PFE (+1,49 %) (50), $KO (-0,4 %) (50); "regular": $VWCE (+0,17 %) (currently 520 with annual 4% dynamic), $SPAG (-0,18 %) (100), $WEBA (+0,76 %) (100), $EXV6 (-0,52 %) (100), $10AJ (+1,2 %) (100) and - before first-time execution - (100). $SDIP (+0,16 %) (100).

In addition, I have reflected certain market assessments at the respective point in time through individual purchases in country ETFs (long-term catch-up potential of the emerging markets through $HMEF (-0,18 %), $FLXC (+0,12 %), $FLXK (-1,12 %) - $FLXI (-1,21 %) was now too expensive for me and the Indian economy was not sufficiently represented by companies listed there; the sleeping innovation giant Japan through $PR1J (-0,65 %), "luxury always works" even in times of inflation through $DX2G (-0,23 %)Europe - especially CH and UK - as a general counterweight to the US through $VEUR (-0,84 %) and the sensible Nordics by $XNZN (-1,4 %)), so that there is now a colorful bouquet of ETFs. However, I am not fundamentally dissatisfied with this, especially as far as these are distributing & savings plan-capable in my ING portfolio, so that their distributions (from 75 euros) are automatically reinvested ($VEUR (-0,84 %) - is so large that this could work for each of the quarterly distributions, $DX2G (-0,23 %), $PR1J (-0,65 %)).

I think that as long as I am still subject to my employer's investment restrictions, I will only make marginal changes to this. For a "fire and forget" portfolio, however, I could imagine switching to a 70/20/10 portfolio in the medium term. $WEBG (+0,24 %), $HMEF (-0,18 %), $SDIP (+0,16 %) (@ING: please $SDIP (+0,16 %) savings plan, thank you!). Let's see what the end of PFOF brings on the cost side, especially for savings plans.

So, that's it; thanks for your patience and perseverance. You're welcome to give me tips, but as I said, my hands are largely tied (and I don't think much of the crypto tulip bulbs until they become an actual means of payment, not just for buying sinister services on the dark web)...

Here's to a successful investment community (&thanks for having me)!

$EOAN (-0,18 %) - The next employee share package will be distributed and promoted by E.ON. The price may rise with larger purchases. Dividends were raised to €0.55/share at the last Annual General Meeting. Investments presented etc.