In my opinion, it's time for a small correction 😈 and today the stars are aligned, especially favorably for LVMH

$MC (+1,07 %)

When we talk about luxury, we talk about $MC (+1,07 %). The French giant brings together more than 75 iconic brands: Louis Vuitton, Dior, Tiffany, Sephora, Moët, Hennessy... real jewels that dominate fashion, cosmetics, wine and watchmaking.

📊 Current strength

In 2024, the company generated more than €84 billion in revenue and €12.6 billion in net profit. Even in a weak consumer environment, it maintains high margins and enviable financial strength.

This 2025, its global sales have suffered a setback, but the operating margin continues to grow (+12% in the first half of the year). This shows that the business is designed to withstand crises and emerge stronger.

💎 Valuation at a discount

The market is offering LVMH at a price below its fair value. Today the stock is trading around €493, while many valuation models put its fair value above €540-550.

In other words: luxury is on sale. A rare opportunity in such a solid group.

🚀 Catalysts for the future

• International tourism in recovery: more travel means more consumption in luxury stores.
• New lines of business: Louis Vuitton's recent entry into cosmetics and beauty may open up a multi-billion dollar market.
• Renowned creative directors at Dior and other brands that will renew interest in exclusive collections.
• Pricing power: LVMH has the ability to raise prices without losing customers, a key weapon against inflation.

💰 Dividend and stability.

Although the focus is on growth, LVMH also rewards its shareholders with growing dividends and a sustainable payout. It is not a purely passive income stock, but a quality stock that combines income and growth.

🔮 10-year view

Investing in LVMH today is to position yourself in an asset that:

• Withstands crises.
• Gains share when the economy normalizes.
• Is globally diversified.
• Has brands that are impossible to replicate.

With patience, this "luxury titan" can continue to generate solid returns and offer an attractive entry point now that the market has priced it in.

✨ Bottom line: LVMH is not just fashion and accessories, it is a global luxury empire. And right now, the market is offering the opportunity to buy quality at a reasonable price.

I was courageous today, but also believe in a long-term rise.

Currently undervalued in my opinion.

A wedding present for my wife 😅

I have now finished topping up the position! Now it can finally turn!

Hello everyone,

After more than a year, it's time to present my portfolio again, as a lot has changed.

I am clearly pursuing a buy-and-hold strategy with quality stocks. As a core I currently have the $GGRP (+0,67 %)and the $IWDA (+0,79 %) . The $GGRP (+0,67 %) will soon leave my portfolio and half of it will be reallocated to the $IWDA and the $XDEM (+0,35 %) will be reallocated. This is simply because I think it's a good idea to have an ETF in my more growth-oriented portfolio that doesn't just have dividend payers in its line-up.

I find the $XDEM (+0,35 %) in particular, as it focuses exclusively on stocks that have performed well recently. The fact that the excess return naturally drives up volatility somewhat is perfectly okay, as my investment horizon is at least 20 years.

Otherwise, another 57% of my portfolio consists of individual shares. My plan has actually always been a 50/50 ratio, but this has changed somewhat due to the strong equity returns. However, the ETF positions will soon be filled with around 600 euros of my training income. This should then level out a little better, as long as shares don't continue to rise enormously.

If you take a closer look at the shares, I think the strong focus on the classic ETF drivers such as $NVDA (+0,85 %) , $MSFT (+0,24 %) , $GOOG (+1,3 %) and $AMZN (+0,85 %) stand out. Of course, the ETFs in the portfolio increase the proportion of these stocks, but that is absolutely intentional. I remain very optimistic about the AI runners and see further growth and sufficient stability in the coming years.

I always find the following particularly noteworthy $EUZ (+0,49 %) . It is the only German company in my portfolio. I am very confident in the long term and am excited to see how they will develop. Unfortunately, my $MC (+1,07 %) position should also be mentioned. Well, bad luck and I didn't have the courage to sell when the downward trend was clear. But at least I can now offset the taxes from the $GGRP (+0,67 %)-sale by selling the LVMH position and then buying it again immediately. As soon as the luxury segment improves again, I am sure that LVMH will be back at the top of the industry.

The bottom part of my portfolio currently consists of $MCD (+0,05 %) and $MDLZ (+0,14 %) among others. Due to the strong returns of the other shares, these two positions have become somewhat unimportant in my portfolio. At around 2% each, they have simply become too small for me, which is why I will be merging them. However, not again in a stable share with a dividend, but rather in a growth driver. I am currently watching $ANET (+1,63 %) and am pretty convinced. The restructuring will probably soon lead to a EUR 4,000 position in Arista and free up another EUR 2,000 for the ETFs.

That should be all. If you have any questions, please feel free to ask, otherwise I'm very happy to receive your feedback :)

(A little info: The sum of the deposit comes from my grandfather's inheritance. The ETF shares I bought early on were bought by my father, as I was of course too young. Then I got involved with shares and was allowed to have more and more of a say. I currently make my own decisions about the portfolio)

At the end of July, I made the decision to break up my portfolio. This is just a visual change, but it will take me back below 100,000 euros.

What did I do?

I decided to split my portfolio into three parts. Of course, as I said, this is only a visual change. But it allows me to make a somewhat more concrete evaluation.

But first, as usual, let's take a look at the S&P500:

For once, the S&P500 was up almost continuously in July. There was only a dip at the end of August. The main reason for the rise was the regulated tariffs.

In my opinion, the stock market reacts very quickly and very positively to any regulations, which, as we all know, can also be quickly discarded.

In the end, the S&P500 gained +3.97% (USD). In EUR terms, it is even up 6.1%.

Now let's move on to my new portfolio allocation. For the time being, nothing has changed in terms of positions. However, I have turned one portfolio into three or simply sorted things out.

On the one hand, of course, I have my share portfolio, which also serves as a review here.

Secondly, I have taken out my XEON. It's still running, of course, because that's the money that will be used to pay off the loan in five years' time. I don't need to keep that in retrospect.

I have also created a "pension portfolio". This contains my ETFs, which I save a total of €650 per month. This doesn't need to be included in the review either, as the savings plans are running there and there shouldn't be any changes until retirement.

What remains is my share portfolio, which contains the individual shares and gold.

As you can see, my performance is +1.45%.

The S&P500 has massively outperformed me here. At the same time, the MSCI World has also risen by 4.4%. Over the year as a whole, my portfolio is now down -1.7%, while the MSCI World is still down -2.7%. The S&P is even at -4.1%

Only the DAX is still outperforming everyone. Over the year, it is now up +17.7%.

My high and low performers in July were (top 3):

Tractor Supply ($TSCO (+0,1 %) )+15,85%

British American Tobacco ($BATS (-1,18 %) ) +15,59%

Ping An insurance ($2318 (+0,22 %) ) +13,52%

Nestlé ($NESN (+0,04 %) ) -9,32%

Nintendo ($7974 (+1,78 %) ) -11,07%

United Health ($UNH (+1,11 %) ) -16,29%

Dividends:

In July, I received €56.87 net from a total of 8 distributions.

Compared to July 2024 (€74.17), this was a reduction of 23.32%.

The difference is due to the fact that Ping An already paid in June this year.

Due to my new portfolio allocation, I have excluded the ETF dividends in each case and therefore the dividend is now of course also visually much lower. The dividends received in the bond portfolio flow 1:1 back into the ETFs.

Investments:

The bill for the car has finally arrived. It amounts to around €1200. Of course, that sets me back enormously. But the worst is yet to come.

The tax was due on 31.07. Well, I was already aware that I had to pay it. However, the sum amounts to €4,000 in arrears. But where does that come from? My old employer paid me a special payment from the old year (i.e. 2023), which was untaxed except for the pension contributions. I got away with it and of course I have to pay an enormous amount as a result. This is also deducted from my nest egg, which makes it worthwhile to have a nest egg.

This means I'm starting almost from scratch again with my nest egg. However, the inspection is due next month at the latest, including an oil change and possibly a brake change.

That would probably use up the nest egg completely. If the brakes don't need to be changed, I can also use the coffee money.

Let's see what August or September at the latest brings.

Buying and selling:

There were no sales in July either.

I added to Gladstone Invest ($GAIN (-0,99 %) ) (150 shares) and Hercules Capital ($HTGC (+0,61 %) ) (14.45 shares)

savings plans (125€ in total):

• Cintas ($CTAS (-0,33 %) )
• LVMH ($MC (+1,07 %) )
• Microsoft ($MSFT (+0,24 %) )

Goals 2025:

I have to change my targets slightly - together with the portfolio. Overall, the €130,000 at the end of the year will remain, but this target will of course be made smaller and the focus will only be on the dividend portfolio.

To be honest, I haven't thought about the target there yet.

Target achievement at the end of July 2025 (in relation to the €130,000): 58.33%

How was your July?

What else would be of interest or what could I do better in the review?

If you liked the report and would like to read more, feel free to follow me,

If you're not interested, you can keep scrolling or use the block function.

$NOVO B (+3,22 %)

$UNH (+1,11 %)

According to Peter Lynch, sooner or later this statement will prove to be true. However, this may be much later than one would expect and in the meantime it may fall much lower...

He also writes something about fishing and having reached the bottom...

" trying to catch the bottom of a falling stock is like trying to catch a falling knife. It is usually a better strategy to wait until the knife reaches the bottom, gets stuck, swings back and forth for a while and finally comes to rest before trying to catch it.

Trying to pick up a rapidly falling stock leads to painful surprises because you usually catch it at the wrong moment.

If you are interested in buying a turnaround stock, you should have a more sensible reason than that the stock has fallen so far or that it looks like it can only go up from here."

$MC (+1,07 %)

Quotes from:

One Step Ahead of the Stock Market - Peter Lynch - 1989

(S. 334-336)

1 of 2 shares have already been bought. Slowly back in a buying range.