$P911 (+3,54 %)

now there is a successor to the current CEO .... it will be Michael Leiters

$P911 (+3,54 %)

The sports car manufacturer has recently had to contend with difficult waters....

Among other things, low sales in China and the tariffs led to the DAX ejection...

But in my opinion, many negative factors have already been priced in. The share can be seen as oversold if you look at the RSI.

In my opinion, Porsche is and remains a strong brand that currently has a lot of potential in relation to its original price and may soon be back in the fast lane.

Is this a unique opportunity to add Porsche to your portfolio at such a low price?

I am also interested in your opinion! I look forward to every new perspective!

I've only been on this platform for two weeks, but at the end of the month there will be the first monthly update on the portfolio ... 😉

Start: 1,022,339 euros

End: 1,116,452 euros

Deposit: 41,000 euros

Profit:
+ 53,113 euros (+5.2%)

This month was quite a decent month in terms of the equity portfolio. The portfolio performance was driven primarily by gold stocks ($KNT (-10,01 %)
$EQX (-5,06 %) ). The gold price explosion, as I like to call it, is of course benefiting here. I assume that gold will continue to perform strongly and provide support for mining stocks. 📈

The automotive stocks in the portfolio have performed less well ($PAH3 (+2,52 %)
$P911 (+3,54 %)
$VOW (+3,26 %) ). This was due to the profit warnings from Porsche and subsequently VW. Nevertheless, I remain optimistic and consider them undervalued at this level despite the difficult situation. 📉

Otherwise, I received around 1,000 euros in dividends this month and realized around 4,000 euros in gains on Alibaba and Baidu, among others. 💵

➡️🆓: On my way towards 4 million total assets, the target achievement level is now 39%. 😊

Let's see how October turns out. As always, it remains exciting!

For the Porsche sports car brand $P911 (+3,54 %) CEO Blume announced that the cost-cutting program would be intensified. "We are supplementing the first savings program," he said. We will "intervene very rigorously in order to make Porsche really robust". The sports car manufacturer will not achieve its strategic return target of 20 percent in the foreseeable future.

He cited the dramatic slump in the luxury market in China and high tariffs in the USA as reasons for this. Together, the two markets account for more than 60 percent of Porsche's total volume. "You don't have to be an expert to deduce that this is putting a business model like Porsche's under complete pressure," explained Blume on Monday. The party that the automotive industry had celebrated for decades was over in this form.

However, Blume was confident about the future. He described the current financial year 2025 as the "absolute low point", which will be used for necessary restructuring. Things should then start to pick up again from next year.

If the general conditions change in the future, the original target of 20 percent is also conceivable again.

Source text (excerpt): Handelsblatt, 08.09.25

As of September 22, 2025, Porsche AG will be removed from Germany's leading index $P911 (+3,54 %) will be removed from the leading German index DAX 40 due to a massive drop in share price of over a third last year - triggered by US import tariffs and declining demand, particularly in China. This makes Porsche one of the weakest DAX stocks in 2025. Deutsche Börse is making this change as part of the regular index recomposition. After being kicked out, Porsche will move to the mid-cap index MDAX .

Who moves up - the climbers in the DAX

Two newcomers fill the gap in the DAX:

• Scout24 AG $G24 (-0,83 %) - the online real estate platform operator, moves from the MDAX to the DAX.
• Gea Group AG $G1A (-0,48 %) - a major machinery and engineering group, also moved up from the MDAX.

Further index changes (MDAX, SDAX etc.)

The DAX is not the only index to be shaken up:

• Fielmann AG $FIE (+1,36 %) moves up from the SDAX to the MDAX.
• Evotec SE $EVT (-1,05 %) leaves the MDAX to make room for Fielmann.
• 1&1 AG $1U1 (+1,86 %) joins the SDAX and replaces SGL Carbon $SGL (-0,93 %)
• 
  In addition, 1&1 $1U1 (+1,86 %) is included in the TecDAX - instead of the biosimilar developer Formycon $FYB (-4,28 %)

$P911 (+3,54 %)

Now that I have reached this milestone, I would like to present my portfolio again. I am 39 years old, married and have a 9-month-old daughter. Due to my wife's parental leave and my own (3 months), I had to reduce my monthly savings rate this year and was also unable to make any major additional purchases during the dip in April. We live in an apartment in Munich that is still encumbered with EUR 220,000. I own 60% of the apartment and my wife 40%.

The aim is to be debt-free by the age of 50, double the value of the deposit and generate a dividend of EUR 1,000 per month.

My portfolio currently has $PLTR (+0,56 %) and of course I also have a few securities at the start that are clouding the picture: $P911 (+3,54 %) , $NKE (+1,15 %)
$PEP (+1,21 %)

Comments, questions and remarks are always welcome.

The weak dollar exchange rate against the euro for months now is having a noticeable impact on German companies. Numerous companies are expecting significantly lower profits in the second quarter and a continuing burden from the unfavorable exchange rate.

At the end of February, the euro was still trading at around 1.05 dollars, and some were even expecting the currencies to reach parity. But the opposite has happened: Since the threat of high US tariffs in March, the US currency has been weakening, with one euro currently costing 1.17 dollars - a 14% appreciation of the euro.

Large companies with strong foreign operations are particularly affected by this. "In the Dax, that's almost all of them," says Jörg Held, Head of Portfolio Management at the fund company Ethenea. He warns that the weakness of the dollar is "becoming a measurable profit killer". Many experts believe that the negative impact of the currency constellation will not disappear for the time being.

Companies' results will come under pressure in two ways: products from export-oriented companies such as $P911 (+3,54 %) Porsche become more expensive when their price is converted into dollars. Their competitiveness is weakened because competing products from companies in other currency areas with lower exchange rate fluctuations become comparatively cheaper.

"A ten percent appreciation of the euro reduces the profit growth of European companies by three to five percentage points over the course of a year," calculates Ulrich Stephan, Chief Investment Strategist at Deutsche Bank.

• BASF
  $BAS (+1,74 %) has lowered its forecast for 2025 by eight percent and now expects an adjusted profit of between 7.3 and 7.7 billion euros. Currency effects already depressed earnings in the second quarter. The negative effect on earnings is primarily due to the translation of earnings generated abroad into euros. In February, the world's largest chemical company was still expecting an exchange rate of 1.05 dollars per euro for the year as a whole. BASF is now assuming 1.15 dollars.

• SAP $SAP (+1,39 %) sees a "significant headwind in the profit and loss account this year" due to the development of exchange rates, as CFO Dominik Asam says. Every percentage point by which the dollar depreciates leads to a loss of around half a percentage point in growth for SAP.

• Wacker Chemie
  $WCH (+3,12 %) expects the current exchange rate level to continue. The rule of thumb within the Group is that a depreciation of the dollar against the euro of one dollar cent will have an impact of around minus three million euros on earnings before interest, taxes, depreciation and amortization without hedging.

Analysts expect the weak dollar to affect other DAX companies. JP Morgan, for example, has just withdrawn its buy recommendation for Airbus shares $AIR (-0,27 %) shares, partly because the exchange rate is putting pressure on profit margins. The aircraft manufacturer mainly produces in the eurozone, while the majority of its revenue is generated in dollars.

The real beneficiaries of the weak dollar are based in the USA. For example, the world's largest healthcare group Johnson & Johnson $JNJ (+0,88 %) has just raised its forecast for 2025. The second quarter was stronger than analysts had expected. In international business, however, Group sales grew almost solely due to the positive impact of the dollar.

The current weakness of the dollar as the world's leading currency is not only affecting companies that trade with the USA: All companies, regardless of whether they export to Asia, Oceania, Africa or South America, are affected, as the majority of international payment transactions and trade contracts are still settled in US dollars.

Experts expect the dollar to weaken further.

"In our view, we are only at the beginning of the bear market for the dollar," says Laurent Denize, co-investment manager at Oddo BHF. Many banks are assuming that the 1.20 dollar per euro mark could soon be reached.

There are several reasons for this: the tariff and trade dispute, the associated changeable and unpredictable policy in the US, the high level of new debt and, finally, US President Donald Trump's public criticism of Federal Reserve Chairman Jerome Powell. All of this is undermining confidence in a reliable US policy - and: "All of this is tarnishing the image of the US dollar," says foreign exchange expert Sonja Marten from DZ Bank.

The discussion about a possible de-dollarization has been gaining momentum for months. This refers to the debate about whether the US dollar is losing its nimbus as the world's reserve currency. "For the first time in a long time, we believe this discussion is actually justified," says Marten. In her opinion, investors looking for alternatives to the dollar will inevitably end up in the eurozone.

If this happens, the euro will continue to gain in value as money flows from dollar to euro investments.

The trend towards the euro is likely to be fueled by the fact that the European Central Bank has probably almost reached the end of its cycle of interest rate cuts after eight cuts in the last two years. The financial markets are only pricing in a further small interest rate cut of 0.25 percentage points by the end of next year.

By contrast, market participants in the US are expecting four interest rate cuts totaling one percentage point by the end of 2026, according to data from the financial news service Bloomberg. The interest rate level between the two currency regions is therefore likely to converge.

The result: the previous advantage for investors in the USA of receiving more interest for their investments there would disappear. This would make dollar investments (even) less attractive in future and, in turn, create further potential for the euro - to the chagrin of export-oriented companies from the eurozone with a strong international presence.

Source (excerpt) & chart: Handelsblatt, 25.07.25

Hello friends, I would also like to share my success. Today I finally achieved my goal of investing €100,000 this year in TR only. Unfortunately, there has been little return over the last few years. In January 2022, I probably started with an investment of €750, not realizing and not knowing that $PAH3 (+2,52 %) is not today's $P911 (+3,54 %) is😂.

Well, a lot of ups and downs and a few years later, I've finally reached my first goal. It's important to mention that around €70,000 has been paid in over the past 10 to 12 months. This could possibly give the impression that the return is distorted compared to a continuous deposit. I see all the fun as a big piggy bank and hope that we will have a lot more fun and make good investments in the coming years!

Next goal: The posts on TR here have given me food for thought and I'm trying to build up €150,000 at SC first and then combine both portfolios, I'll decide how to do that when the time comes! If I had a €250,000 portfolio in 2 years, I would be happy😅