If you are interested in shares, ETFs or investing in general, you are definitely not doing anything wrong by reading a few good books on the subject.

On the contrary: books can help you understand the basics, avoid typical mistakes and enter the market with a clear strategy. 🧠📈

I have now read a few books on the stock market, some of which were rather average, but the following ones particularly impressed me and are absolutely worth reading in my opinion:

1️⃣ Without shares will be difficult - by Noah Leidinger & Florian Adomeit

For whom? Ideal for beginners who want to look beyond ETFs and actively engage with individual shares.

What is it about? The book provides a practical introduction to the world of individual shares. Using 25 real company examples (including Coca-Cola $KO (-0,72%) , Netflix $NFLX (+0,35%) or Zalando $ZAL (-2,72%) ), the authors show how to analyze business models, classify company key figures and value shares.

The question of whether ETFs are really always the best choice is also critically examined. The relaxed and easy-to-understand style makes it particularly beginner-friendly and informative at the same time. ✅

2️⃣ Intelligent investing - by Benjamin Graham

For whom? For anyone who wants to invest systematically for the long term, even if this requires a little more patience and reading discipline.

What is it about? The standard work on value investing.

Graham explains how to recognize undervalued stocks and why it pays to invest with a cool head and a rational approach.

Warren Buffett calls it the best book ever written on investing for a reason. 🏆

3️⃣ Investing with confidence - by Gerd Kommer

For whom? For anyone who invests in ETFs and is looking for a scientifically sound, sober view of investing.

What is it about? Kommer shows why a globally diversified ETF portfolio is the best long-term choice for most private investors. 🌍

He disproves many stock market myths with facts, figures and data.

The book is factual, easy to understand and ideal for anyone who wants to build up assets calmly and over the long term. 🧱

4️⃣ One step ahead of the stock market - by Peter Lynch

For whom? For anyone who likes to analyze companies themselves and wants to actively search for exciting stocks.

What is it about? Lynch explains how good investment ideas can be found through everyday observations (e.g. when shopping).

At the same time, he gives deep insights into his way of thinking, his portfolio management and his greatest successes. A practical and motivating book with many aha moments. 💡

5️⃣ Think and Grow Rich - by Napoleon Hill

For whom? For anyone who wants to grow not only financially but also personally.

What is it about? Not a classic stock market book, but a real classic when it comes to success, mindset and determination.

Hill shows how important discipline, self-belief and clear goals are for long-term success, even on the stock market. 🏆

I've read a few other books, but these five stand out for me. 📘

What are your favorite books on the stock market and finance?

Or how you can make a fool of yourself all over the world.

No deal with Putin, no deal with TikTok, no deal with China.... In the end, Trump had to back down again. What hedge fund managers, US industry and high-ranking Republicans had been calling for days ago came true yesterday. Just before his political "suicide", the ripcord was pulled.

My portfolio conclusion: it has once again proven true - everything that falls quickly can also rise quickly again, and vice versa📉📈 Somehow a crash in fast motion.💥 It's not over yet. We are still a long way from the highs.

The last few days around 30k have been invested in the portfolio, even several times due to the nice volatility, as I've been in and out with the whole amount about 3 times in total.

Yesterday morning I went back in with the stocks that were taken out the day before. Orders closed $UBER (-0,25%)
$RDC (-0,7%)
$KTN (+0,18%)
$VER (+0,11%)
$ZAL (-2,72%) and also the $WEBG (+0,81%) was expanded with approx. 5k. I like to invest the trading proceeds in ETFs to steadily expand the core.

How did you get on? Were you brave enough to get in?

$KTN (+0,18%)
$ZAL (-2,72%)
$VER (+0,11%) all companies that I would like to have back in my portfolio.

Even though I $KTN (+0,18%) Kontron $ZAL (-2,72%) Zalando and $VER (+0,11%) Verbund still have potential. With the drop in prices, capital can soon be deployed more profitably. I also expect a backlash from the EU and all other affected countries in the next few days, which could result in another downward jolt.

According to the motto that only realized profits are real profits, I am waiting to see what happens over the next few days...

@Epi I need an insider tip on when would be a good time to top up your certificate😅

Zalando $ZAL (-2,72%) has big plans and wants to take over its smaller rival About You by the summer. This majority takeover is a strategic step to strengthen its market position and expand its reach in online retail. Zalando intends to squeeze out the remaining shareholders of About You. The amount of cash compensation that will be offered as part of this squeeze-out is still unknown. However, Zalando assures to make an "appropriate offer" after the deal is finalized. On Friday, About You shares remained stable at 6.66 euros, which is higher than Zalando's offer of 6.50 euros. This could make the negotiations even more exciting, as it gives shareholders an incentive to consider whether or not they want to accept the offer.

In the USA, Mercedes-Benz $MBG (+1,59%) also has big plans and wants to significantly expand its military vehicle business. The head of the Special Trucks division sees huge opportunities in this area and wants to significantly increase market share. The focus is on developing innovative solutions for military applications and expanding the product range. However, details of the specific plans have not yet been published. With this expansion, the company wants to position itself in a growing market that could become increasingly important in the coming years. With these steps, Mercedes-Benz wants to secure its competitiveness in a rapidly changing environment and open up new areas of business.

Sources:

https://www.manager-magazin.de/unternehmen/handel/zalando-uebernahme-von-about-you-soll-im-sommer-abgeschlossen-sein-a-17a3ea76-7de7-421a-894f-d54ab99e140e

https://www.manager-magazin.de/unternehmen/autoindustrie/mercedes-benz-special-trucks-chefin-moechte-geschaeft-mit-militaerfahrzeugen-ausbauen-a-ae007afa-6c16-4b98-a144-2ad64fe43e05

The analyst conference of Zalando ($ZAL (-2,72%) ) began with a presentation by co-CEOs Robert Gentz and David Schröder.

Robert Gentz emphasized that Zalando had achieved its strategy and financial targets last year, despite a challenging market. He emphasized the adaptation to customer needs and the investments in the platform. Gentz pointed out that Zalando is transforming from a platform to an ecosystem in order to gain a larger market share. In the B2C area, Zalando wants to become the first port of call for high-quality fashion and lifestyle, while strong growth is targeted in the B2B area. David Schröder added that Zalando plans to merge with ABOUT YOU, which is an important step forward.

Gentz mentioned that 2024 is the first year since the pandemic in which e-commerce penetration in Europe returns to its long-term growth trend. He was optimistic about the long-term opportunities in a EUR 450 billion market. The GMV increased by 4.5 % to EUR 15.3 billion and sales by 4.2 % to EUR 10.6 billion. The adjusted EBIT exceeded expectations by more than EUR 30 million and reached EUR 511 million, which corresponds to a margin of 4.8 %.

At the end of the year, 51.8 million active customers were served, an all-time high. Spending per customer remained stable at around EUR 295. The gross margin in the B2C business rose by more than 200 basis points to 43.5%.

Sales of EUR 953 million were achieved in the B2B business, an increase of 11.5 % compared to the previous year. The adjusted EBIT amounted to EUR 23 millionwith a margin of 2.4 %. Schröder emphasized the goal of promoting a more sustainable fashion and lifestyle industry and achieving net-zero emissions in its own operations and private labels by 2040.

Robert Gentz addressed the three strategic pillars for the B2C business: Differentiation through quality, lifestyle expansion and inspiration and entertainment. Zalando aims to be the quality leader in European e-commerce for fashion and lifestyle. The company expanded its range to include new brands such as Versace and On Running. The loyalty program has been improved and rewards customers for commitment and purchases. To date, almost 10% of customers participate in this program.

Gentz mentioned the expansion into new markets such as Portugal, Greece and Bulgaria. Zalando plans to enrich the product detail pages to improve conversions. In the area of lifestyle expansion beauty and sport are highlighted as important growth areas. Beauty recorded strong, double-digit growthand new brands such as Armani are being added to the range. In the sports segment, the focus is on sub-segments such as running, outdoor, fitness and soccer. Zalando plans to deepen its offering in these areas in order to strengthen its credibility and expertise.

In the area of inspiration and entertainment, Zalando is testing various formats, including Stories on Zalando. A personalized discovery feed in the Zalando mobile app is planned for 2025.

David Schröder explained the progress made in the B2B area, where Zalando wants to become the operating system for fashion in Europe. In the logistics area, Zalando now serves 12 markets and enables retailers to sell on 10 different channels. He cited Pepe Jeans as an example of the success of ZEOS solutions. Zalando has started a new partnership with NEXT to develop advanced fulfillment capabilities. In the software area, Zalando is working on strategic partnerships with leading sales channels, integrators and store systems.

Robert Gentz addressed the outlook and mentioned the planned acquisition of ABOUT YOU. More than 90% of the shares of ABOUT YOU have already been secured. This takeover will enable Zalando to pursue a dual-brand strategy and expand its B2B offering. In the long term, synergies of around EUR 100 million per year on an EBIT basis are expected. An adjusted EBIT margin of 10% to 13% is targeted for 2028. GMV and sales growth of 4% to 9% is expected for 2025, as well as a further improvement in adjusted EBIT to EUR 530 to 590 million.

In the subsequent Q&A session, the analysts addressed the following topics:

Anne Critchlow from Berenberg asked about the GMV trend in the first quarter compared to the fourth quarter and marketing costs. David Schröder replied that the start of the year showed similar positive momentum to the fourth quarter. Marketing costs of 10% of sales in the fourth quarter are not expected to be the new normal level for 2025. Zalando plans to continue to manage its investments based on ROI and expects marketing costs to be in the higher single-digit range.

Jürgen Kolb asked about the expectations for the gross margin and fulfillment costs in 2025. David Schröder explained that Zalando has made a big step in 2024 towards an adjusted EBIT margin of 6% to 8% in 2028. A smaller step is expected for 2025, with the focus remaining on efficiency improvements and the gross margin.

Luke Holbrook from Morgan Stanley asked about the progress of the loyalty programin which 10% of customers are currently participating. Robert GentzCo-CEO, replied that the program will be expanded to 16 countries this year and marketed more strongly, which will lead to accelerated expansion. Holbrook also asked about performance in the first quarter.

David Schröder clarified that the start of the year was similar to the end of the year, with growth in the fourth quarter amounting to 4.8%.

Another analyst asked about the impact of ZMS (Zalando Marketing Services) on the operating result in 2025. David Schröder replied that the loyalty program will have a positive impact on customer numbers and spend per customer, which will translate into lower marketing spend in the long term. However, there will be a temporary accounting effect in the mid double-digit million range in connection with deferred revenue.

An analyst from Bernstein asked about the drivers for the growth of 4 % to 9 % in 2025. Robert Gentz explained that both active customers and GMV per active customer will contribute to growth. The retail business will remain strong, but an increase in the partner business is also expected. With regard to ZMS, Robert Gentz said that the company will achieve double-digit growth in 2024. double-digit growth and expects the same for 202515 . In the long term, Zalando is aiming for a corridor of 3% to 4% for ZMS. David Schröder emphasized the one-stock-pool strategy in which the entire inventory is pooled in one infrastructure to serve multiple channels. The acquisition of ABOUT YOU makes this concept even more attractive.

Another analyst from Stifel inquired about the effects of the trade conflict between the USA and China. Robert Gentz replied that Zalando does not see any immediate impact due to its European base and its mainly Asia-based supply chains. With regard to Chinese companies operating in Europe, Zalando's focus is on high-quality e-commerce with branded products.

He also asked about TikTok stores. Robert Gentz replied that Zalando is curiously watching this and cooperating with TikTok in the UK to learn.

An analyst from UBS asked about the capacities following the commissioning of the warehouse in Paris and the construction of the warehouse in Frankfurt. David Schröder replied that the capacities are sufficient to cover the growth plan until 2028. The partnership with NEXT helps Zalando to understand the requirements of large customers and to develop additional capabilities.

An analyst from RBC asked about the integration costs and synergies of ABOUT YOU. David Schröder replied that Zalando is aiming for long-term synergies of 100 million euros per year on an EBIT basis.

An analyst from Deutsche Bank asked about major brands in the sports and beauty sectorsthat Zalando would like to have on its website. Robert Gentz replied that in the sports sector it is more about expertise in certain sports, while in the beauty sector it is about attracting new brands.

In summary, Zalando is successfully driving forward its ecosystem strategy and has achieved its financial targets for 2024. There are exciting plans for 2025 to further develop the strategy in the areas of B2C and B2B. The planned acquisition of ABOUT YOU fits perfectly into this strategy and offers additional growth opportunities.

I am curious to see how the share will continue after the recent recovery.

Goldman lowers target for Adidas

The US investment bank Goldman Sachs has lowered its target price for Adidas $ADS (-0,28%) from 280 to 270 euros and left the rating at "Neutral". Analyst Richard Edwards has revised his operating earnings estimates for 2025 and 2026 slightly downwards following the recently published quarterly figures. These adjustments are the result of earnings that did not quite meet expectations. In addition, the risk-free interest rate in its valuation model has been raised, which has also contributed to analysts becoming more cautious. At Adidas, it remains to be seen how the company will react to these new challenges and whether it can succeed in consolidating or even expanding its own market position.

Relief Therapeutics talks ended

In a surprising turn of events, talks about a merger between Relief Therapeutics and Renexxion have been terminated. The biopharmaceutical company has announced in a recent press release that the negotiations have not led to a satisfactory outcome. Relief Therapeutics is known for its innovative therapies, which have attracted considerable interest in the healthcare industry. The termination of these discussions could have far-reaching implications for the company's future strategy and growth. It remains to be seen how Relief Therapeutics plans its next steps and whether other partnerships may be on the horizon to further expand its product range.

Zalando wants to continue its growth course

The online retailer Zalando $ZAL (-2,72%) is optimistic and expects further growth in sales and operating profit in the current year. The company plans to achieve between four and nine percent more sales and is targeting an increase in adjusted earnings before interest and taxes (EBIT) to between 530 and 590 million euros. These forecasts are slightly above analysts' expectations and reflect solid growth. Last year, Zalando already recorded sales of just under 10.6 billion euros, which corresponds to an increase of over four percent. The operating result also rose by an impressive 46 percent to 511 million euros. The positive growth forecast has encouraged investors, which is reflected in a pre-market rise in Zalando shares of up to 1.99 percent. It will be exciting to see how Zalando can realize its ambitious goals and which strategies will be used to achieve them.

Sources:

https://www.finanzen.net/nachricht/aktien/analyse-flash-goldman-senkt-ziel-fuer-adidas-auf-270-euro-neutral-14295811

https://www.finanzen.net/nachricht/aktien/relief-therapeutics-aktie-gespraeche-ueber-fusion-mit-renexxion-beendet-14295853

https://www.finanzen.net/nachricht/aktien/zuwaechse-zalando-aktie-profitiert-zalando-strebt-weiteres-umsatz-und-gewinnwachstum-an-14295718

The profit forecasts for the current financial year have risen for 21 of the 40 DAX companies.

According to research by Handelsblatt, analysts have raised their profit estimates for these 7 of the 40 DAX companies by at least five percent in the last three months.

Handelsblatt sheds light on the prospects of these seven companies and their shares with a view to their prospects: the development of earnings this year, the resulting changes in valuation - and how analysts are positioning themselves.

Below is a brief overview, details with further information can be found at "Handelsblatt"

$ENR (+2,01%) The earnings forecasts for Siemens Energy shares are rising most rapidly

$DBK (+1,96%) Deutsche Bank share: Rising profits cause valuation to fall sharply

For $QGEN Qiagen: Difficult times after the pandemic are over

$VNA (+0,1%) Vonovia makes billions in profit after billions in losses

$ZAL (-2,72%) Zalando: Takeover gives new share price potential

$MTX (+5,29%) MTU: Global market leader generates stable earnings

$DTE (-2,85%) Deutsche-Telekom: Unusually strong vote from analysts

Source / Graphics: Handelsblatt, 18.02.25

$ZAL (-2,72%) Zalando's share price has already doubled again in the last 12 months from its low. But there is still plenty of room for improvement 📈

With $YOU (+0%) the market share will be further expanded 👆

https://de.investing.com/news/press-releases/eqsnews-about-you-holding-se-vorstand-und-aufsichtsrat-von-about-you-unterstutzen-offentliches-ubernahmeangebot-von-zalando-deutsch-2858330

Total return

1.425,88 €

True time-weighted rate of return

24.37 % That's my balance sheet from January! I am very happy with that! I have sold all my short-term trading positions. I built up my first positions for February yesterday and today. These are derivatives on $ADYEN (-0,53%) (MG9L2B) purchase yesterday at 4.15 $ZAL (-2,72%) ( UG0W0H) Buy today at 5.84 $NOC (+2,23%) (HT21L8) purchase day before yesterday at 1.10 I have planned purchases in $FTNT (+1,34%) ( JT7XG3) $AMZN (+0,25%) ( MJ5V94) $ADS (-0,28%) (ME44Y2) and for a little longer $AXON (+2,31%) (Ht1KYH) I am keeping the remaining powder dry in case there are great opportunities like last Monday.