I bought more, there is no better contra-indicator than me 🤦‍♂️

$VNA (-3,13%)

thus a found food for you @Multibagger 😉

In terms of my portfolio performance/volatility, the last few weeks have probably been the craziest weeks since I started investing. Within a week, my portfolio lost over 100,000 euros in value during the precious metals crash only to gain back over 200,000 euros in value in the subsequent recovery by the end of February.

As a result, I reached a new milestone at the end of February. For the first time, the portfolio value exceeded the EUR 1.5 million mark. 😊

👉🏻 February:

Start: 1,368,240 euros + 100 cash

End: 1,559,4604 euros + 300 cash

Deposit: 5,400 euros

Profit: +186,020 euros (+13.59%)

The increase in value is mainly due to the good performance of my gold portfolio stocks (K92 Mining $KNT (-7,25%) and Equinox Gold $EQX (-6,14%) ). In the meantime, the gold price has slowly risen again and this is of course also reflected in the share prices. The two companies together now account for over 50% of my portfolio... This is actually an unreasonable ratio, but I am still convinced that there is still a lot of potential here. Both companies are in a great operational position, are debt-free and have even announced small dividend payments as a reward. 👍🏼

Otherwise, I continued to sell and buy here and there in February. I took profits on Puma $PUM (-1,03%) , Vonovia $VNA (-3,13%) , Henkel $HEN3 (+0,3%) , K+S $KSC , Target $TGT (+0,84%) and Western Union $WU (-1,24%) while I increased my position in SAP $SAP (-0,58%) , PayPal $PYPL (+1,71%) and Novo-Nordisk $NOVO B (+0,04%) further expanded.

The Iran war will certainly cause some turbulence on the stock market in the coming days. Experience shows that precious metals will benefit in times of uncertainty, but the oil price is also likely to receive a significant tailwind. With my high exposure to gold and my position in Occidental Petroleum $OXY (+3,59%) I believe I am well positioned, at least in the short term. 👍🏼

➡️🆓: On my way towards 4 million total assets, the target achievement level is now 49.8%.

Here's to good stock market trading and see you in a few days! 😊

The DZ Bank analysts have drawn up two lists of shares that they consider to be particularly attractive. For more defensive investors and for investors who rely on continuous cash flows, they recommend the so-called "dividend aristocrats": In other words, companies that have regularly paid and raised dividends.

Top dividend aristocrats:

Pfizer $PFE (+1,24%), Verizon $VZ (+1,04%), BNP Paribas $BNP (-2,54%)Zurich Insurance $ZURN (+0,33%), Enel $ENEL (-0,86%), Sanofi $SAN (+1,9%), Hannover Re $HNR1 (-0,89%) , Man and Machine $MUM (-0,07%), Generali $G (+0,19%) and Allianz $ALV (-0,25%)

Another list has been compiled for investors with a somewhat higher risk appetite: Stocks with attractive dividend yields and additional share price potential. These not only pay a good dividend of at least three percent, but could also increase significantly in price in the future. However, the continuity of dividends in the past plays a lesser role - and this strategy is correspondingly riskier.

Top dividend rockets:

Man and machine $MUM (-0,07%) , Cancom $COK (+3,92%), Bastei Lübbe $BST (+0,74%), Sixt $SIX2 (-0,44%), Kontron $KTN (-14,33%), Fresenius Medical Care $FME (+1,53%), Vonovia $VNA (-3,13%), Hawesko $HAW (-0,49%), ElringKlinger $ZIL2 (+6,87%) and Hannover Re $HNR1 (-0,89%)

Source text (excerpt) & graphic: World | AAA, 19.02.2026

Novo Nordisk 3.0% $NOVO B (+0,04%) NVO

LVMH 2.0% $LVMH

Pernod Ricard 6.35% $RI (-5,8%)

Imperial Brands 5.5% $IMB (+0,5%)

BAT 6.2% $BATS (-1,58%)

Sunrise Communications 8.00%

Nestle 4.05% $NESN (-0,38%)

Roche 2.85% $ROG

Novartis 3.07% $NOVN (-0,83%)

Shell 4.07% $SHEL (+1,11%)

German Post 3.86% $DHL (+0,11%)

Swisscom 3.75% $SCMN (-0,72%)

German Telekom 3.52% $DTE (-0,82%)

Strabag 2.72% $STR (-0,41%)

Vonovia 4.82% $VNA (-3,13%)

BASF 5.01% $BAS (+1,45%)

Puma 2.8% $PUMA

Hannover Re 3.62% $HNR1 (-0,89%)

Munich Re 3.8% $MUV2 (-0,53%)

Allianz 4.00% $ALV (-0,25%)

BP 5.76% $BP. (+2,76%)

Spotify

https://open.spotify.com/episode/1zt05UZlehInr81iaZMdY5?si=e676f0a812014943

YouTube

https://youtu.be/BpCIIJYfxHA

Appple Podcast

https://podcasts.apple.com/de/podcast/125-20-europ%C3%A4ische-dividenden-aktien/id1695869891?i=1000744769342

A brief look back:

I started investing 5 years ago (still 23 years young at the time).

At the time, I was still in the final stages of my dual studies when Corona suddenly hit.

My original plan to buy my own car was quickly changed to a loan-financed purchase.

The 17k that became available went public in April 2020. Looking back, there was probably no better time.

First learning:

The father of my current fiancée advised me to invest in 50% Msci World $IWDA (-1,23%) and 50% Dax $DBXD (-1,11%) to invest. This in the form of two ETFs.

Without any knowledge of the stock market, I went to my bank (Sparkasse) and told the advisor that I would like to invest in the two ETFs mentioned and open a custody account for them.

I was presented with two funds. Deka Champions and DWS Dax or something like that.

When I asked her that these were not ETFs but funds, she simply said that the benchmark was the same and that the nice saleswoman would also invest in the products mentioned.

So 10k was invested. The 3% and 4% issue and sales charges were thus paid.

Later, after I got to grips with the stock market, these were liquidated and I switched to Smart Broker for individual shares and Trade Republic for ETFs.

2nd learning what goes up can also go down:

One of my first stocks was $KO (-0,5%) and $ALV (-0,25%) the good $ETSY (+1,35%) . EK was 53€ and about 1.5k was invested.

Etsy went up to 110€ and I made my first 50% partial sale ever. Etsy rose to 240€ and nothing was done on my part. Etsy sinks to 90€ and I got back in with the partial sale. Etsy was finally sold completely at 70€.

My first learning on individual stocks was followed by the second. FOMO:

Cannabis = Bevcanna Enterprise 1.5k invested 99% loss

Independent mining corp. = 1k invested sold with 60% loss.

Today I am very thankful that I only paid 2k in tuition fees. I seriously believe that it saved me from bigger losses in the following years.

3rd learning:

An investment in a pure ETF $VWRL (-1,32%) from the beginning would have given me almost 15k more return by 2024.

I spent 2022 to 2024 reducing a difference of almost 20k, from mistakes made in 2020 and 2021, to my what if portfolio (ETF only). In 2025, however, I settled the amount for the first time to now plus minus zero through my portfolio outperformance.

4th learning:

In all this time, I have been studying the stock market in depth. I don't think I would have gone long with a pure ETF. All the non-fiction books, conferences, streams and videos have also given me a more comprehensive understanding of world events beyond the stock market. I have also made a noticeable change on the subject of money. And no, I don't turn over every penny. My savings ratio is 50% consumption / vacation and 50% retirement provision.

My latest learning:

Being debt free at 29 and having 100k gives you peace of mind. You shouldn't live your 20s in complete consumption, but you shouldn't oversleep either. My trips around the world to Asia, Central America, Europe and Africa, some with friends, some with family, have brought me more than just money.

But everyone is different. I am happy to have taken the middle path.

I have now increased my initial savings rate of €400 per month to €840. However, the €800 for vacations and consumption are just as important to me.

Thoughts on my current portfolio:

Trade Republic:

About the ETFs $IWDA (-1,23%)
$EIMI (-2,73%) and $XSX6 (-1,09%) I don't have to say anything. This is my core investment.

$SGBS (-2,21%) and $GDXJ (-4,63%) are my way of diversifying with gold. When I added gold to my savings plan on December 31, 2024, both positions almost automatically reached the 5% weighting.

What is new $VNA (-3,13%) . I selected these at the end of 2025 together with $O (+0,37%) for my 10% weighting in the real estate sector. For me, Vonovia is wrongly valued too much as an interest rate bet. Fundamentally, there is a lot right with the exception of the debt. I hope for a nice turnaround and even if not just under 6% dividends are very attractive.

As my individual stocks have performed very strongly, my allocation has become unbalanced. The goal is 50% ETFs, gold, real estate, cash and 50% individual stocks.

I won't say anything about my individual shares so as not to prolong the article too much.

Except:

$ALV (-0,25%)
$BATS (-1,58%)
$SHEL (+1,11%)
$GOOGL (-2,76%) are long-term stocks

$AAPL (+1,05%)
$BABA (-3,2%)
$1211 (-2,36%)
$EUZ (+5,87%)
$AXON (-1,67%) medium-term

$OXY (+3,59%)
$ARM (-0,81%)
$UNH (-0,45%) short term bets

and unfortunately I can't get the tracking 100% correct. Getquin crashed in March, which is why only Trade Republic is displayed as the previous value and Smart Broker as the capital invested in March / April.

In addition, due to the change of custody account Sparkasse -> Smart Broker -> Smart Broker plus -> Trade Republic (Etfs sorted out) I had no power to enter everything since 2020

I have looked at my portfolio review of 2025 and my start to 2026 - not just "how much", but above all: why and what I have learned from it. I am happy to share this with you and look forward to discussion & feedback and, above all, your views: what was the result and also your perception of your stock market year 2025 - and what set-up are you starting the new year with?

Time to reflect 🧘‍♂️

1) Change of mood at the end of 2024

After a rather sobering (for me) stock market year 2024, there was a clear turnaround in sentiment in November 24: on the day of Trump's election victory in Nov 24, the market jumped significantly (Dow +3.57 %, S&P 500 +2.53 %, Nasdaq +2.95 %). This made the "risk-on" narrative credible again - and you could see it in the behavior of many portfolios. At least in mine, if I'm honest with myself ;)

2) Q1/Spring 2025: Unusually Europe-friendly

The first few weeks of 2025 were indeed unusually Europe-heavy: in the first six weeks of 2025, the STOXX 600 was up >5.5%, while the S&P 500 was only up +2.7% in the same period.

This also became clear later in hindsight: in 2025, defense and banks were extremely strong drivers in Europe at times. I was also right in this upswing ($DHL (+0,11%) , $GBF (-1,72%) , $RIO (-2,8%) ) but unfortunately also some disastrous ($NESN (-0,38%) , $MC (-0,53%) , $NKE (-1,21%) ,$NOVO B (+0,04%) ) decisions were made. Partly also trend- and community-driven -> yes, you are to blame ;)

3) Beginning of April: Bad times

Then came the break: The strong start to the year was literally "wiped out" in just a few sessions, partly due to the customs/trade war shock. YTD turned completely negative, and by April 7 the STOXX 600 was around 12% below the closing price on April 2. $TSLA (-2,74%) and $NVDA (-3,16%) purchases. I also $PEP (-0,2%) I bought cheaply, but a real breakout is still a long way off.

4) Shortly afterwards: fireworks

Then a tailwind came back in the US from the middle/end of April, when the market repriced parts of the Trump escalation in the direction of "negotiations/de-escalation". The Donald kept a few election promises that were perhaps not quite official .-)

5) H2/late year: AI + interest rates as a "macro tailwind"

Towards the end of the year, the environment was then more strongly characterized by two factors: AI-driven risk assets and falling interest rates. It was an AI-driven rally, which also supported sentiment and inflows into US equity again.

And on the interest rate side: the Fed set the key interest rate at 3.50 % to 3.75 % in December after a further cut.

At the end of the year, the major benchmarks were also closer together again: STOXX 600 +16.66 % in 2025, S&P 500 ~+17 %.

6) Golden times 🥇🏅

Then there was the beautiful gold (u.W.). 2025 was a real exclamation mark: spot gold was up around 66% over the year (according to Reuters, the strongest increase since 1979).

Silver was even more extreme at around +168 % per year.

I have already written about gold in more detail here on getquin - if you are interested in the topic, you can find the article in my profile.

Personal performance 2025

• Internal rate of return: approx. +10 %
• TTWROR: approx. -33 %
• Dividend yield: approx. 1.3 % p.a.

The figures confirm what I described above: in my opinion, I made very good operational decisions (realized profits, used tax aspects, built up cash flow). At the same time, the TTWROR shows quite clearly that the portfolio structure was too volatile and too strongly growth/trend-oriented in the meantime. Too often, I have taken the "falling knife".

Before the turn of the year, I invested in $NVDA (-3,16%) , $TSLA (-2,74%) , $GBF (-1,72%) and $DHL (+0,11%) - each with positive returns - for the following reasons:

• Utilize saver's allowance
• Reduce tech-heaviness
• Cash generation (you can read why below)

Starting point Jan 2026:

Brief overview of the 2026 start setup

Asset mix

• Individual shares: 71.4 %
• ETFs: 16.0 %
• Gold: 9.2 %
• Crypto: 3.4 %

Regional breakdown

• North America: approx. 45.7 %
• Europe developed: approx. 26.0
• Rest of the world (including EM/Asia/Australasia): approx. 22.5 %

Sector structure

• Financial services: 20.5 %
• Consumer goods (cyclical): 19,2 %
• Consumer staples: 15.7
• Information technology: 14.8
• Materials: 7.9
• Healthcare: 4.7

Start to the new year

Parallel to the sales at the end of 2025, I reallocated or increased my holdings in January, including in $O (+0,37%), $VNA (-3,13%) and $ZAL (-3,94%)- with the logic:

• Strengthen cash flow/dividend components
• Turnaround opportunities as a limited admixture
• Reduce volatility in the portfolio

Why I am thinking more defensively in 2026

Next week, the purchase of an apartment on beautiful Lake Tegernsee 🏝️ will be notarized. This is a step into a completely new asset class for me, as it's my first property of my own. - In addition to construction financing, it will of course also be a liquidity issue over the next few weeks.

I may make a separate post about this, perhaps some of you are also currently facing this step?

I can mentally cope well with drawdowns. But: being able to bear risk does not automatically mean having to bear risk.

My portfolio should fit in with this new phase of my life.

What I will do differently in 2026

Because a new asset class will be added to my portfolio in 2026 with the purchase of an apartment, I want to position my portfolio more defensively in future - without completely foregoing opportunities for returns : risk. Otherwise we would be completely wrong on the stock market :)

1) ETF core should dominate

I want my portfolio to be dominated by my ETFs in future. My target scenario is therefore

• 60% of the deposits via a savings plan in my 4 core ETFs ($VWRL (-1,32%) , $COMM (+0,82%) , $WSML (-0,9%) , $IEMS (-2,56%) ).
• 30 % stocks
• 10 % commodities
• Play money: crypto, certificates, pennies (weighting < 5%)

Important! This is a start-in-2026 setup

Of course, as always in life, a plan is there to be thrown overboard - so you have to wait and see how assets perform in the year ahead and reassess regularly.

2) Stocks yes - but with more discipline

Turnaround/opportunity stocks and trends remain part of my approach, but clearly limited. I want these positions to be what they should be again: An addition, not a foundation.

I will reduce (basic) consumption and strengthen healthcare. And tech?

3) Tech: more controlled

Tech will remain a driver of returns in 2025 - but I want to build it up again in a controlled manner after my sales. I will monitor the trend from a distance for the first few weeks and possibly months and bet on corrections. You can't do without it - as you can see from the Mag-7 performance in 2025:

• $GOOGL (-2,76%) : +65,3 %
• $NVDA (-3,16%) : +38,9 %
• $MSFT (-1,18%) : +14,7 %
• $META (-7,43%) : +12,7 %
• $TSLA (-2,74%) : +11,4 %
• $AAPL (+1,05%) : +8,6 %
• $AMZN (-1,25%) : +5,2 %

On that note, happy new year!

$VWRL (-1,32%)
$EWG2 (-2,1%)
$O (+0,37%)
$PEP (-0,2%)
$MSFT (-1,18%)
$P911 (+0,69%)
$BLK (-1,02%)
$NKE (-1,21%)
$RIO (-2,8%)
$MC (-0,53%)
$NOVO B (+0,04%)
$NESN (-0,38%)
$ZAL (-3,94%)
$COMM (+0,82%)
$IEMS (-2,56%)
$BTC (-2,71%)
$ETH (-4,67%)
$XRP (-3,78%)
$PEPE (-2,98%)

-72% The Trade Desk $TTD (-0,47%)

-72% Fiserv $FI (-1,32%)

-65% Dogecoin $DOGE (-4,33%)

-65% Cardano

-61% Gerresheimer

-60% Enphase Energy $ENPH (-5,02%)

-59% CarMax $KMX (+1,86%)

-57% Strategy $MSTR (-3,2%)

-56% Deckers Outdoor

-56% Alexandria Real Estate

-50% Redcare Pharmacy

-50% PUMA $PUM (-1,03%)

-50% lululemon

-49% Dow

-49% Novo Nordisk $NOVO B (+0,04%)

-48% MARA $MARA (+5,06%)

-48% Molina Healthcare

-47% FactSet

-47% Charter Communications

-47% HelloFresh

-45% Wolters Kluwer

-43% Solana $SOL (-5,47%)

-43% Cocoa

-42% UnitedHealth $UNH (-0,45%)

-41% Atlassian

-41% Li Auto

-40% Copart

-40% Meituan

-38% PayPal

-38% Chipotle Mexican Grill

-36% TeamViewer

-35% GameStop $GME (-1,73%)

-35% Orsted $ORSTED (+2,07%)

-33% Pernod Ricard $RI (-5,8%)

-33% Evotec

-33% Symrise

-31% Marvell Technology $MRVL (+0,19%)

-30% Comcast

-30% Natural Gas

-30% Kraft Heinz $KHC (+0,57%)

-30% Adobe $ADBE (+2,27%)

-29% Salesforce $CRM (+2,76%)

-28% Nike $NKE (-1,21%)

-28% Adidas $ADS (+1,05%)

-27% Sugar

-27% XRP $XRP (-3,78%)

-26% Stellantis $STLAM (-1,17%)

-25% JD .com

-24% Procter & Gamble $PG (-0,73%)

-23% Arm $ARM (-0,81%)

-22% Ferrari $RACE (+0,75%)

-22% Porsche AG $P911 (+0,69%)

-21% Zalando $ZAL (-3,94%)

-21% NEL ASA $NEL (-0,68%)

-21% Ethereum $ETH (-4,67%)

-18% Bitcoin $BTC (-2,71%)

-16% Brent Oil

-16% Delivery Hero

-13% Vonovia $VNA (-3,13%)

-12% Coinbase $COIN (-3,42%)

-11% SAP $SAP (-0,58%)

-7% Amazon $ (-1,25%)AMZN (-1,25%)

First things first. I hope you all had a peaceful Christmas season and were able to spend a few lovely days with family and friends! 😊

Even though December isn't quite over yet, I'd like to give you a quick update on the past month before the new year and take a brief look at the performance since I started at getquin in September.

👉🏻 December:

Start: 1,253,497 euros + 19,000 cash

End: 1,336,908 euros + 400 cash

Deposit: 3,000 euros

Profit: +61,811 euros (+4.86%)

As in previous months, the portfolio benefited from the continued strength of gold in December. The overweight in K92 Mining ($KNT (-7,25%)), Equinox Gold ($EQX (-6,14%) ), B2Gold ($BTO (-0,68%) ) and, more recently, Euro Sun Mining ($ESM (-9,45%) ) has contributed significantly to the good performance. My sale of SantaCruz Silver ($SCZ) (-8,56%) in November, on the other hand, unfortunately proved to be an expensive mistake. I lost 50% of my profit, but as you know, you're always smarter afterwards and who could have guessed that silver would go through the roof like this.

Otherwise, not much has changed in my portfolio. I have now fully reinvested the 19,000 euros in cash. Among other things, I have taken an initial position in Vonovia ($VNA (-3,13%) ) and Zalando ($ZAL (-3,94%) ). I have also added some Ubisoft ($UBI (-6,38%) ) and Fuchs Petrolub ($FPE (+0,76%) ). I only took profits on Puma ($PUM (-1,03%) ) and significantly reduced my position here when the share price was driven up again by takeover rumors.

As already mentioned, an extremely successful stock market year 2025 comes to an end tomorrow. The performance alone since I started with getquin in September has left me surprised. I wish every year was like this, but ... well. It will probably remain a pipe dream, but I'm all the happier for it! 😊

👉🏻 September - December:

Start: 1,022,339 euros

End: 1,336,908 euros + 400 cash

Return (adjusted): +235,305 euros (+21.39%)

A large part of the performance is of course due to (mainly unrealized) price gains, especially in my two largest positions (K92 Mining and Equinox), which now have a very high impact on the overall performance due to their size. However, other trades have also played their part. For 2025 as a whole, I expect to generate around EUR 115,000 in realized capital gains. Of this, around EUR 20,000 is attributable to dividends received, EUR 20,000 to trading profits with K92 Mining and other various gold/silver mines and around EUR 75,000 to the remaining shares (e.g. Alibaba, Xiaomi, Volkswagen, Porsche, 1&1, Ceconomy, etc.), to name just a few.

I am aware that the main ingredient for such a performance is luck (or inside information). Since I don't have the latter, let's agree on luck... 😉

For this reason, I am setting my targets for 2026 correspondingly lower. My main goal is always to receive around 5% of my assets in the form of investment income. Based on today's values, this would mean a range of 70,000 - 90,000 euros. I no longer set myself a target for my total assets. Although my salary can be planned, it is of secondary importance in the overall picture and, as we all know, you can't plan for price gains on the stock market... 👍🏼

➡️🆓: On my way towards 4 million total assets, the target achievement rate is now 44%. 😊

So, enough chatter. I wish you all a happy new year, happiness, satisfaction, health and, of course, success on the stock market in 2026! 🍀

Enjoy the quiet time! I'm off for 3 weeks in the sun and then I'll see you again at the end of January!

See you in a few days! 😊

Hi everyone,

I would really appreciate your opinion on my portfolio.

Briefly about me:

I am 38 years old and unfortunately only started my Trade Republic portfolio about 2 years ago. I have been investing regularly since then. I can currently invest around €350 per month - I work in a gym 🥲, and unfortunately you don't earn very well there, you could almost call it a pittance.

In addition, I have my Bitcoin and Altcoin portfolio on Bitvavo... I can't share it here, too many errors in the coins and you can still change it somehow. I then deleted the connection again.

I played soccer until I was 32 (including 3rd league, mostly 4th league for many years) and was able to save up some capital during this time, which I later invested.

My long-term core consists of:

$IWDA (-1,23%)

$EIMI (-2,73%)

$TDIV (-0,17%)

$BTC (-2,71%)

Dividend / cash flow portfolio

I also have a portfolio with a focus on cash flow, the aim is to hold around 15 stocks with a solid dividend yield and ideally dividend growth.

Currently included are:

$O (+0,37%) Realty Income

$RACE (+0,75%) Ferrari

$PEP (-0,2%) Pepsi

$MAIN (-2,38%) Main Street Capital

$NOVO B (+0,04%) Novo Nordisk

$ASML (-3,66%) ASML

$ITX (+0,48%) Inditex

$1211 (-2,36%) BYD

$ZTS (+0,24%) Zoetis

$BRO (+2,46%) Brown & Brown

$SBUX (-0,98%) Starbucks

$ITH (-0,69%) Ithaca Energy PLC

This brings my current total to 12 shares, so there is still room for one or two additions.

One of the stocks on my watchlist is Vonovia $VNA (-3,13%) with a dividend yield of just under 5%. However, the dividend growth doesn't look particularly good. As my wife will be starting work there soon, I've become more aware of the company for the first time ☺️

Other stocks on my watchlist:

Allianz

Vici

Linde

Microsoft

Waste Management

UnitedHealth Group

Mastercard

Visa

Texas Roadhouse

Nintendo

Enbridge

NextEra Energy

Wolters Kluwer (exciting sector, also corrected over 50% from ATH)

Amazon (for the yield/growth portfolio)

Maybe one or the other is missing $KO (-0,5%) or $MCD (-0,46%) but I had opted for $PEP (-0,2%) and $SBUX (-0,98%) and I don't want any more consumer stocks.

Pure growth portfolio

I also have a separate portfolio with a focus on share price growth:

$NVDA (-3,16%) Nvidia

$NKE (-1,21%) Nike

$MARA (+5,06%) Mara Holdings

$BITF (-5,38%) Bitfarms

$TTD (-0,47%) The Trade Desk

$CRCL (-5,43%) Circle Internet Group

$ADBE (+2,27%) Adobe

$COIN (-3,42%) Coinbase

$SMHN (-4,48%) Suess Microtec

$PYPL (+1,71%) PayPal

$HUT (-7,4%) Hat 8

$DRO (+5,43%) DroneShield

$LXS (+2,68%) Lanxess

$PLTR (-4,07%) Palantir

$WEED (-2,9%) Canopy

$UBI (-6,38%) Ubisoft

$MSTR (-3,2%) Strategy

I am aware that I have built up a lot of positions over the last two years. I am therefore also planning to sort out some of them and concentrate more on selected stocks.

I am grateful for any assessment, criticism, tips or suggestions.

Best regards

Chris

Since in the last vote $VNA (-3,13%) has won, here is the post :)

🏰 Moat (competitive advantages): 2/5 points

• Clear number 1 in Europe and high barriers to change for tenants (housing shortage).
• No pricing power!
• Politics (rent index, brake) dictates income.

📈 Growth: 0/5 points

• While sales are rising, massive property devaluations have pushed the operating result (EBIT) deep into the red at times.
• No scalable margin in sight.

⚠️ Risk: 2/5 points

• The business model is crisis-proof (always used to it).
• Extreme regulatory risks in Germany.
• Net debt is 15.5 times EBITDA!

⭐ Special points: 2/2 points

• Attractive dividend (~5%)
• Share buybacks

Overall conclusion: 6 out of 17 points

The company / share is therefore currently not an investment option for me.

As always, you can find my complete analysis with all the sub-items on YouTube:

https://youtu.be/urTkEncTIWE

What will be watched next will of course be decided by voting again.