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10What do you think of my portfolio performance for the last 2 years?
$KO (+0,88%)
$VWRL (-0,13%)
$VUSA (+0,25%)
$VEUR (-0,6%)
$VOW (+2,73%)
$ENI (+0,57%)
$BAYN (-0,8%)
$INTC (+0,66%)
$SAN (+1,44%)
$FCT (-0,76%)
$SL (-0,45%)
$ISP (-4,01%)
$SHEL (+0,5%)
$LDO (-0,47%)
$QBTS (-1,66%)
Sanlorenzo stands out not just for its brand, but for the quality of its financials, which in my view justify a bullish stance on the stock.
Over the last few years, the company has delivered double-digit revenue growth, with annual sales now well above €800 million and a clear trajectory toward the €1 billion mark. What matters even more is profitability: EBITDA margins have consistently moved into the mid- to high-teens, a strong result for a company operating in a highly customized manufacturing business.
The order backlog is another key strength. Sanlorenzo typically reports a backlog covering more than one year of production, providing strong revenue visibility and reducing short-term cyclicality risk. This is not a company selling hope — it is selling yachts already contracted.
Cash generation is solid. Operating cash flow remains positive even during periods of heavy investment, while net debt is under control. In some years, leverage has remained close to 1x EBITDA or below, giving management flexibility to invest, pay dividends and absorb potential macro slowdowns.
Return on capital is also attractive. ROIC levels comfortably above the cost of capital indicate that growth is value-accretive, not just growth for the sake of size. This is a crucial point in luxury manufacturing.
Finally, valuation. Despite its quality and growth profile, Sanlorenzo has often traded at lower multiples than global luxury peers, especially when adjusted for balance sheet strength and backlog visibility. For a company combining premium pricing, strong margins and disciplined execution, this creates an appealing risk-reward profile.
In my view, Sanlorenzo is not a cyclical trade — it is a high-quality luxury compounder backed by real numbers.
👉 Do you think the market is still underestimating Sanlorenzo’s ability to compound earnings over the next cycle?
Everyone perceives risks individually. Everyone tries to independently assess the risk of a share or the current economic situation on the stock market.
In portfolio theory, risk is primarily measured using the standard deviation. In simple terms, this is the extent to which a share price moves. If this movement is correlated with the "market", this results in a beta. If this is < 1 bedeutet das, dass der Kurs einer Aktie geringer als der Markt schwankt. > 1, the result is a disproportionate fluctuation. The "market" is an elastic term. For example, an MSCI World, S&P 500 or the DAX can be used as a reference. The result is different betas depending on the index. However, I do not want to go into this topic any further at this point.
Why beta is not relevant for me
Diversification as a risk?
I often see portfolios with 30+ companies on Getquin. The aim behind this is to minimize risk. In my view, however, what gets lost in the process is the overview - or leisure time, because every share in the portfolio should be tracked and scrutinized.
I have therefore opted for a clearly structured portfolio. There are currently 11 companies (but the number is not set in stone). There are two reasons for this:
I want to know and follow each company in my portfolio well
The impact of a price increase should be significant
My strategy for less drawdown despite fewer shares
Why these companies?
My criteria for buying shares
Basically, I hardly set myself any limits when investing. I like to invest in shares that are rather unpopular at the time of purchase. The sector doesn't matter, although I prefer high-margin business models.
I like to buy cheap - high P/E ratios put me off (even if FOMO sometimes kicks in). I don't feel comfortable with it because of the potential drop.
Wow. Thank you for reading this!
Now that you know my strategy, I would really appreciate some stock tips tips, that could fit my strategy.
By the way, can you see the portfolio? Because it's my own post I can't check it👀
In my opinion, you can diversify at these levels:
Local (by headquarters, by turnover)
By currency
By industry
By company size (influences volatility)
I try to have as little overlap as possible in several areas in order to keep my portfolio robust.
Example:
$DRO (-2,04%) and $PARRO (-0,81%) : Similar industry, so both are driven by the same news, but have different locations and currencies.
$CACI (+1,17%) Also has some correlation with the two, but is mainly dependent on the movements of the US military.
$8001 (-0,65%) As a boring anchor
$SL (-0,45%) As a "real" luxury play to profit from rising inequality and to have more euro/Italy in the portfolio.
$GRE (-1,85%) Because I see great potential in Greece, see old post
Hi everyone!
I’ve been building this portfolio for almost a year now, following a long-term growth approach rather than chasing short-term explosive gains. So far, it’s up +5.30%. I’ve focused more on the italian and american markets with stoks such as $ISP (-4,01%)
$KO (+0,88%)
$BRK.B (+0,8%) that make more than half my portfolio. What do you think about my strategy and approach?
$VOW3 (+2,52%)
$PLTR (+0,71%)
$FCT (-0,76%)
$LDO (-0,47%)
$RHM (-1,33%)
$INTC (+0,66%)
$CPR (+0,16%)
$AXP (-0,26%)
$BMPS (-3,53%)
$FBK (-2,12%)
$G (-0,3%)
$GS (-1,03%)
$MCD (+0,77%)
$SL (-0,45%)
$ENI (+0,57%)
$BBAI (-1,32%)
$PRY (-3,66%)
My goal is to beat the market, I'm still relatively young and want to see if I can do it, if not I'll put everything in an etf in 5 years.
Regarding my portfolio, I currently have a cash ratio of 23-25% depending on the fluctuations in the last month.
Purchases of existing stocks:
I plan to increase the financial stocks by 50%, $CG (+1,56%)
$KKR (+0,11%)
$APO (-0,26%)
$TPG (+0,11%) .
In addition, a little $DMP (+1,38%) by 25%.
Sales:
I made the mistake of wanting to $EVO (+0,18%) and $CPRX trade, but then I was too greedy.
I am convinced of both positions in the long term but not in this size in the portfolio, which is why I will reduce both stocks by 33%.
Potential purchases:
$HALO (+0,64%)
$CUV (+1,22%) - Will invest a little extra, otherwise just the 33% from sale of $CPRX. Both around 50 - 50
$SL (-0,45%) - the same as $TISG (+0,9%)
$KSPI (+0,97%) - about as high as $MUM (+0,29%)
$FIH.U (+0,63%) - about as high as $MUM (+0,29%)
$2GB (-5,48%) - about as high as $MUM (+0,29%)
$M12 (-2,09%) - about as high as $MUM (+0,29%)
$CPR (+0,16%)
$DGE (+0,64%)
$RI (+1,98%) - I'll wait and see, but I can imagine that they will develop in a similar way to the tobacco shares. Since I don't want to decide, I'll just buy three for the sum of one. And divide the amount between these 3.
In general:
I'm generally a fan of putting together baskets like with alcohol or the yacht builders.
What would you change because you see a high risk? I am relatively poorly positioned in the tech sector, do you have any other titles that I could take a closer look at in this area?
As announced, here's a little update on January today, nothing long, don't want to bore you
Yield
Yield: 6.82% (FTSE All World: 4.23%)
TTWROR: 7.29%
Thus slightly outperformed, hopefully I can extend this lead further
transactions
Sales:
Purchases
Looks like a lot of back and forth for now, but with this my portfolio conversion continues and will soon be completed
Hello GQ community,
Bruno Kreidler made me aware of this share. $SL (-0,45%) share through Bruno Kreidler.
What is your opinion?
