Before the moment is over again, I would like to take a moment to celebrate my first small milestone: after almost a year of active trading, I have reached €10,000.

Most of the time I was still a student - with small savings rates, a lot of curiosity and learning by doing (and many mistakes). I've now been working as an engineer for a month and can invest properly for the first time. I'm excited to see where the journey will take me.

I am pursuing a long-term growth strategy, but I also like the charm of dividends as a motivator. With half of the bonuses, I will probably buy individual shares or burn a penny or two by gambling.

I know things aren't going perfectly, but I'm prepared to learn from mistakes and constantly question my strategy.

One small fly in the ointment: my Mercedes shares are currently still blocked.

I look forward to your feedback, experiences and tips - on the subject of crypto, I'm still torn as to whether I've missed the party.

Savings plans: 690€

200€ - $IWDA (+0,44%)

60€ - $EIMI (-0,28%)

40€ each - $JEGP (+1,19%)
$MAIN (+3,11%)

25€ each - $NOVO B (-2,62%)
$HTGC (+1,02%)
$GOOGL (+1,27%)
$WMT (+1,58%)
$CRWD (+1,73%)
$AMZN (+0,1%)
$MELI (+0,35%)
$META (-0,65%)
$NET (+3,11%)
$ALV (+0,6%)
$WM (+1,1%)
$ASML (-1,43%)
$SAP (+0,67%)
$PLTR (+0,57%)

Since the beginning of the year, analysts have lowered their profit estimates for the 50 largest listed companies in Europe by almost four percent. This is according to data from the financial specialist Bloomberg.

One of the main reasons for this is the tariffs imposed by US President Donald Trump Trump and the associated uncertainty. Tariffs make products more expensive, making them less affordable for end customers. In addition, the recent euro exchange rate against the dollar is affecting companies. This makes products sold in the dollar zone more expensive and less competitive. In addition, turnover and profits are reduced as soon as companies convert their dollar earnings into euros and report them on their balance sheets.

But there are exceptions. For five companies in the European Stoxx 50 share index, analysts have increased their profit forecasts for the current financial year by at least five percent since the beginning of the year. by at least five percent - for one group by as much as 15 percent.

Handelsblatt profiles the shares of these companies with a view to their business prospects, their stock market valuation and their share price potential.

The candidates are:

$PRX (+0,03%) - Prosus | 20 analysts per buy / 4 hold

$CFR (+7,09%) - Richemont | 17 buy / 16 hold / 1 sell

$NOVN (+1,35%) - Novartis | 9 buy / 15 hold / 5 sell

$SAP (+0,67%) - SAP | 25 buy / 6 hold / 3 sell

$IBE (+0,86%) - Iberdrola | 12 buy / 19 hold / 2 sell

The detailed analysis is available here (€):

https://hbapp.handelsblatt.com/cmsid/100124777.html

Source: Handelsblatt, 09.05.25

AHEAD: Starting next month, my Instagram monthly recaps will only show the most important facts and figures on the slides of the Instagram post. The detailed text version will appear here on getquin. This makes it easier to absorb the information and makes the Instagram posts clearer.

I will divide the monthly review into a portfolio update and a review for private finances. I could also create a separate review for dividends and reinvestments. My aim is to motivate people to take responsibility for their own finances and to build up their wealth. The whole thing is based on my experience reports from my personal everyday financial life, tailored to the respective target group for each sub-post. Let's see how well I succeed.

Here is the last All-In-One post.

While many have continued to panic about Trump, I think I have understood that the whole tariff issue is only intended to depress the markets so that the USA can refinance itself at much lower interest rates when a good USD 7 trillion of the USD 36 trillion of national debt matures this year. That's why I preferred to keep on hiking, while the portfolio rewarded me with plenty of dividends for the month.

I present the following points for the past month of April 2025:

➡️ SHARES

➡️ ETFS

➡️ DISTRIBUTIONS

➡️ AFTER-PURCHASES

➡️ CASHBACK

➡️ P2P CREDITS

➡️ CRYPTO

➡️ AND OTHER?

➡️ OUTLOOK

➡️ Shares

So the second of April was the aforementioned day of liberation. And it was indeed one, the day of liberation from the excessive overvaluations in US equities. Unfortunately, there was also other collateral damage, but in the end there will be none, as it is all just book losses.

The trap in the US government budget that I would like to briefly point out is the national debt to GDP ratio of 123%, as of March 2025. In Germany, it is around 63%. This is stiflingly high and means that economic output is not enough to keep the national debt in check! Therefore new new "money" has to be printed for refinancing. And this money reaches us through asset price inflation. The illustration is, of course, highly simplified, but that is why we invest.

A look at my portfolio shows me that my individual shares $NFLX (+1,17%) my previous class leader $AVGO (-2,17%) has at least just caught up in terms of performance. Nevertheless, Broadcom remains the largest position in terms of volume. Who knows for how much longer?

Netflix's performance has recovered to +184%, Broadcom's is +182%. I'm watching the spectacle, but I'm letting the savings plans continue. Nothing more will be done here, as Beate Sander once said: the horses stay in the stable. Behind the two draught horses $WMT (+1,58%) 3rd place in terms of volume and $SAP (+0,67%) in 3rd place in terms of performance with +110%. In the last review, I reported that the waste disposal service provider $RSG (+1,28%) had risen steadily. It is now losing a few places again, but rising $V (+0,74%) and $MA (+0,04%) are rising together and both are already knocking on the door of the top 5 from the outside. The performance of both is similar and decent with +44%/+42%.

As always, the last places in the main stock portfolio are occupied by the same suspects. $NKE (+1,6%) , $TGT (+1,36%) and $HTGC (+1,02%) are the smallest positions. In terms of performance, Nike and Target are the worst performers at -40%.$DHR (+3,09%) as well. But that leaves me cold. In the current macro situation, this is hardly to be expected otherwise. The "neighbor indicator" fits, because most of the shoes on their doorstep (larger family) are Nike shoes. I'm thinking about adjusting my savings plans so that these values receive a higher proportion of my net salary.

➡️ ETFs

The impact of Trump's tariff policy was also clearly felt in the prices of my ETFs in April, leading to significant losses. It is important to remain calm in such volatile times and continue to invest strategically. Such phases are part and parcel of long-term asset accumulation.

➡️ Distributions

In April, I was pleased to receive 19 distributions on 8 payout days. This additional income stream is a valuable addition to my normal earned income, for which I am very grateful. I recommend everyone to build up this kind of additional income in order to become more financially independent from their traditional main job.

Traditionally, April is not a low-distribution month for me. This time, however, the distributions from my three large ETFs were not paid out at the end of March but in April, which distorted the distributions for both months. This effect made April the second-highest distribution month since I started investing. Otherwise, April is always slightly below the distributions of March.

➡️ Additional purchases

From the refunds below, I bought two one-off savings plans on the $GGRP (+0,24%) and $JEGP (+1,19%) executed. I would have liked to buy more, but I still don't want to touch the nest egg or reserves.

➡️ Cashback

In April, I received a cashback on my electricity bill and a travel allowance from my employer. Part of this was used to pre-finance future expenses and to top up sinking funds, while the other part was invested in an old portfolio via the aforementioned one-off savings plans.

➡️ P2P loans

With Mintos, there were no interest or redemption payments. I always withdraw incoming funds with availability. How are you doing with P2P? Are you also withdrawing from the investment?

➡️ Crypto

April was also a very volatile month for crypto investors. The unrest caused by Trump's tariff policy depressed crypto prices, similar to March. However, prices gradually recovered, indicating that the money supply is already increasing again. This is happening through new debt being purchased in the form of government bonds by the FED, which is essentially the equivalent of 'printing' money. Historically, the $BTC (-0,64%) usually follows this development with a delay of just over 10 weeks, as it is strongly correlated to the money supply at 90%.

I am following the whole thing with interest. My preferred theory of cryptocycles still fits in with the current trend. We are moving back towards 100K and I expect a bullish crossover in Bitcoin. The limit orders are still in the market, even if it will be a long time before they trigger. Of course, I hope that the "normal" bear market will then resume. In a few months' time, we will know whether we will have seen another clear double top in the current bull market.

Here are two key figures from my crypto wallets: monthly performance: +5.5%, performance since the beginning: +56%.

➡️ And what else?

I'm continuing to delve deeper into the use of LLMs and am currently working on my prompting technique. The posts on my Instagram channel that I have published since March have been created with the help of AI, I have used AI to give me ideas for image generation, to have them created naturally and many of the quotes are also AI-generated. I use several LLMs and see significant differences in the outputs. This makes it more diverse and even allows me to merge multiple results. The models are also learning my writing style better and better, with longer generated texts you can still clearly read the generic, but I myself understand better and better how I can use the new technology to improve my productivity instead of letting it replace me. This also applies to my job.

As in the previous month, I am also focusing much more intensively on the topic of nutrition. I avoid added sugar as much as possible. So there was no chocolate bunny for me at Easter and I'm not hungry for chocolate or other sweets. That's a real miracle.

I've also increased my weekly exercise routine once again and am paying close attention to how my body is coping. Instead of two weight training sessions at home, I now do three, instead of three running sessions a week I do a lot and every morning I do some general fitness/cardio and core exercises for my stomach to warm up. The clear aim is to continue building muscle and strengthening my heart health. And I enjoy it, even though the temperature in my apartment has already risen towards 25° Celsius on some days.

I've been hiking twice in Saxon Switzerland, once just under and once over 30 km. On hiking days, I like to leave at 4 a.m. on the first Saxonia Express train. In the fall and early spring, this is even the perfect time to enjoy the sunrise on the sandstone cliffs. For me personally, this is pure healing for the soul and a real quality of life. I can enjoy it without depressing thoughts in my head because I know that my finances are in order and running on autopilot.

➡️ Outlook

May will be a no-spend month for me, simply because I feel like taking on the next challenge. Later in the year, I want to start a Hartz IV/citizen's allowance experiment. I should be able to do this most of the time, as my expenses in March and April were both under €1,000. I'm already looking forward to the evaluation at the end of the challenge.

Links:

Social media links can be found in my profile, also feel free to check out the Instagram version of my review.

SAP exceeds profit forecasts

Undeterred by the customs chaos in the USA, the European software giant SAP $SAP (+0,67%) achieves an impressive jump in profits. The share price rises by around six percent after the close of trading, reflecting the positive market sentiment. The DAX-listed company is optimistic and sees its annual targets for 2024 on track following the record result. Despite a slight decline in cloud growth, profits exceeded market expectations of €2.22 billion with an increase of 58% to €2.46 billion. Christian Klein, CEO of SAP, expressed his satisfaction with the company's performance in the current economic environment and confirmed the full-year targets. Cloud revenues increased by 26 percent to 4.99 billion euros, but fell short of analysts' expectations of 5.06 billion euros. However, the order volume in this segment grew by 29 percent to 18.2 billion euros. Despite the uncertainties caused by the tariff war with the USA, SAP is optimistic that the orders can be converted into sales.

Intel halts factory construction in Magdeburg

In the USA and Europe, the new CEO of Intel, Lip-Bu Tan, has to make "painful decisions". Among other things, this concerns the construction of new factories worth billions, which was planned in Magdeburg, among other places. This project was already put on hold in September for an estimated two years. In the USA, the construction of a huge plant in Ohio has also been stopped. Tan emphasizes that Intel first wants to maximize the efficiency of existing capacities before making money available for new expansions. This leaves the Magdeburg project facing uncertain times as the company adapts its strategy to current market conditions. The decision reflects the uncertainty and challenges facing companies in the global chip industry.

Sources:

https://www.n-tv.de/wirtschaft/SAP-legt-beim-Gewinn-um-60-Prozent-zu-article25719621.html

https://www.spiegel.de/wirtschaft/unternehmen/neuer-intel-chef-lip-bu-tan-kuendigt-schmerzhafte-entscheidungen-an-a-88599d21-07f6-451c-9137-a810bd237d57

Tesla with sales decline + SAP maintains cloud growth rate and confirms outlook + Danaher's statements also drive Sartorius, Stedim and Evotec

Tesla $TSLA (+2,05%)with decline in sales

• Tesla recorded a nine percent drop in sales to 19.3 billion dollars and a 71 percent drop in profits to 409 million dollars in the past quarter.
• Analyst Dan Ives from Wedbush Securities estimates that Elon Musk's political activities could permanently reduce demand for Tesla by 15 to 20 percent.
• In its current quarterly report, Tesla refrains from its usual forecast of a return to growth.
• For the first time in its Q1 earnings report, Tesla does not mention when the company intends to return to growth.
• Tesla Inc. misses analysts' estimates of USD 0.42 with earnings per share of USD 0.27 in the first quarter. Revenue of USD 19.34 billion below expectations of USD 21.4 billion.
• Tech billionaire Elon Musk initiates withdrawal from Washington.
• From May, he will spend "considerably" less time in the government apparatus as President Donald Trump's cost-cutter, said the Tesla boss.
• Instead, he will focus more on the interests of the electric car manufacturer.

SAP $SAP (+0,67%)maintains cloud growth rate and confirms outlook

• SAP maintained its cloud growth in the first quarter and significantly increased its operating profit.
• The Walldorf-based software group confirmed its outlook for the current year.
• According to the DAX-listed company, the environment is characterized by high dynamics and uncertainty and further developments are difficult to predict.
• SAP is targeting currency-adjusted cloud growth of 26 to 28 percent to 21.6 to 21.9 billion euros this year.
• Cloud and software combined are expected to grow by 11 to 13 percent to 33.1 to 33.6 billion euros.
• The non-IFRS operating result is expected to reach EUR 10.3 to 10.6 billion after EUR 8.15 billion in 2024.
• In the first quarter, cloud revenue rose by 26% in constant currency to just under EUR 5 billion.
• Analysts had expected a consensus of EUR 5.06 billion from Visible Alpha.
• Currency-adjusted growth had already amounted to 26% in the fourth quarter.
• Non-IFRS operating profit rose by 58% to EUR 2.46 billion.
• The Current Cloud Backlog (CCB), which quantifies secured orders over the course of a year, rose by 29% to EUR 18.2 billion after adjusting for currency effects.
• The initial reaction of the share in after-hours trading in Germany was positive. They rose by more than 5 percent to 231 euros at the broker Lang & Schwarz.
• The SAP share had closed 3.32 percent lower at 218.50 euros on XETRA on Tuesday.
• SAP ADRs traded on the NYSE rose 6.48 percent to 268.75 US dollars in after-hours trading.

Danaher's $DHR (+3,09%)statements also drove Sartorius$SRT (+0,92%)Stedim $DIM (+1,1%)and Evotec $EVT (+1,96%)on

• The quarterly figures of the US pharmaceutical equipment manufacturer Danaher boosted the shares of Sartorius and its subsidiary Sartorius Stedim Biotech on Tuesday.
• The shares of pharmaceutical contract researcher Evotec also benefited.
• The reason for this was not only the better than expected results in the first quarter and the confirmation of the Group's annual targets.
• The fact that Danaher performed particularly well in the bioprocess technology segment, which is also an important pillar of the Göttingen-based Sartorius Group, probably put investors in a good mood.
• In addition, Danaher spoke of continued robust spending on research and development in the pharmaceutical sector.
• In the afternoon, the Sartorius preference share rose 5.9 percent to 221.30 euros at the top of the leading German Dax index and is thus back at its highest level since the end of March.
• The 21-day line, which signals the short-term trend, had already been overcome on Wednesday.
• The 50-day line as an indicator of the medium-term trend at just under EUR 226 and the long-term 200-day line at just over EUR 234 are now the next decisive resistances.
• The shares of French company Stedim Biotech recently rose by 3.9% to EUR 194.35 in Paris.
• In the MDax, the mid-cap index below the Dax, Evotec shares rose by 6.7 percent to 6.82 euros, while in the USA Danaher shares rose by 5.0 percent to 194.09 US dollars.
• Analyst Rachel Vatnsdal from the US bank JPMorgan spoke of Danaher "comfortably exceeding expectations" and "remarkable strength" in the bioprocessing sector.
• The bioprocessing division was the leader in the first quarter, she wrote.
• Compared to the previous quarter, orders there had increased significantly, while the company had also noted that it had not noticed any pull-forward effects in view of impending tariffs.
• According to stock market analysts, this should also have a positive effect on the industry as a whole.
• Like Sartorius, Danaher is broadly positioned in the healthcare sector with businesses in biotechnology and diagnostics.

Wednesday: Stock market dates, economic data, quarterly figures

• ex-dividend of individual stocks
• Lenzing EUR 3.00
• Heineken EUR 1.17
• Proximus EUR 0.10
• Adecco Group 1.00 CHF

• Quarterly figures / company dates USA / Asia
• 12:30 AT&T | GE Vernova | Boston Scientific quarterly figures
• 13:00 Philip Morris quarterly figures
• 13:30 Boeing quarterly figures
• 15:30 Goldman Sachs AGM
• 16:00 Cigna AGM
• 22:00 IBM | Texas Instruments | Lam Research
• 22:00 ResMed | Whirlpool quarterly figures
• No time specified: BYD quarterly figures

• Quarterly figures / Company dates Europe
• 07:30 Danone | Essilor-Luxottica 1Q sales
• 07:30 Volvo AB | Akzo Nobel quarterly figures
• 08:00 Reckitt Benckiser Trading Update 1Q
• 09:00 Just Eat Takeaway Trading Update 1Q
• 10:00 ASML | Sulzer Holding AGM
• 17:45 Kering quarterly figures

• Economic data

09:15 FR: Purchasing Managers' Index/PMI non-manufacturing | Purchasing Managers' Index/PMI manufacturing (1st release)

09:30 DE: Purchasing Managers' Index/PMI non-manufacturing (1st release) April PROGNOSE: 50.3 PREVIOUS: 50.9 Total Purchasing Managers' Index (1st release) PROGNOSE: 51.0 PREVIOUS: 51.3

09:30 DE: Purchasing Managers' Index/PMI manufacturing (1st release) April FORECAST: 47.6 PREVIOUS: 48.3

10:00 EU: Purchasing Managers' Index/PMI non-manufacturing Eurozone (1st release) April FORECAST: 50.5 PREVIOUS: 51.0

10:00 EU: Purchasing Managers' Index/PMI Manufacturing Eurozone (1st release) April FORECAST: 47.5 previously: 48.6 Total Purchasing Managers' Index (1st release) FORECAST: 50.4 previously: 50.9

10:30 UK: Purchasing Managers' Index/PMI non-manufacturing (1st release) Apri PROGNOSE: 51.6 previous: 52.5 | Purchasing Managers' Index/PMI manufacturing (1st release) April PROGNOSE: 44.2 previous: 44.9

11:00 EU: Trade Balance February

15:00 US: IMF, Fiscal Monitor

15:30 US: Fed St. Louis President Musalem and Fed Governor Waller, participate in Fed Listens Event

15:45 US: Purchasing Managers' Index/PMI Services (1st release) April Forecast: 52.8 Previous: 54.4 | Purchasing Managers' Index/PMI Manufacturing (1st release) April Forecast: 49.5 Previous: 50.2

16:00 US: New Home Sales March FORECAST: +1.3% yoy previous: +1.8% yoy

16:30 US: Crude oil inventories data (week) from the Energy Information Administration (EIA) previous week

18:00 US: Governing Council member Knot, speech at Peterson Institute conference

20:00 US: Fed, Beige Book

21:15 US: ECB Chief Economist Lane, participation in panel at IMF Spring Meetings

21:45 US: ECB Director Cipollone, participation in panel at IMF Spring Meetings

No time specified: CN: Auto Shanghai 2025 exhibition in Shanghai

The first quarter of 2025 is over. In March, real assets recorded declines, both in equities and ETFs and especially in cryptocurrencies. The markets have become increasingly volatile. While many are panicking, I have been enjoying the first signs of spring, hiking and continuing to winter bathe diligently.

For the past month of March 2025, I present the following points:

➡️ SHARES

➡️ ETFS

➡️ DISTRIBUTIONS

➡️ CASHBACK

➡️ AFTER-PURCHASES

➡️ P2P CREDITS

➡️ CRYPTO

➡️ AND OTHER?

➡️ OUTLOOK

➡️ Shares

There was a considerable setback in March, and not just in equities. The reason for this is the customs issue, on which I have already formulated my thesis, which many believe to be correct. To summarize briefly: Markets are being depressed to get investors into bonds, which lowers bond yields and allows US debt to be refinanced at a lower interest rate. After the refinancing of short-term US government bonds, the tariffs are put into perspective and the next upswing follows, which Trump can boast about. Whether this assumption is correct remains to be seen. However, it would make sense in the long term to slash US spending. Even if the D.O.G.E. does a good job, you can't cut everything without incurring the displeasure of the population.

A look at the depot shows the front-runner $AVGO (-2,17%) and its companion $NFLX (+1,17%) both currently only 150% up, despite a significant setback. I am unimpressed by this development, as the capital market is always facing worse times, which will be followed by better ones. According to André Kostolany, it is now the "shaky hands" that are significantly triggering the sell-off. Yes, change your perspective: the red sign in your portfolio is irrelevant, now is the time to buy more. Enormous overvaluations in tech stocks have been reduced and they may now be available at a fairer price. There are also attractive defensive value stocks on offer, ideal for a dividend portfolio.

Second and fourth place in my individual share portfolio are still occupied by $WMT (+1,58%) and $SAP (+0,67%) . Walmart can now prove that it acts as a stable anchor in the portfolio even in bad times. In sixth place is a stock that I did not expect to be in the top 10. Like me, many of you have shares in $WM (+1,1%) but the stock I am looking for is its competitor: $RSG (+2,33%) . I have been watching the rise of this stock even before the pressure from Trump and I am happy about it. This is an example of a defensive stock. Garbage collection is necessary and Republic Services, like Waste Management, will literally turn garbage into gold for shareholders 50 years from now. Anyone complaining about their portfolio being down 50% probably has too much tech and too little defensive. My overall portfolio currently stands at around -12%. That's OK in the current macro environment.

Which brings us to the subject of performance: $NKE0 and $DHR (+3,09%) returned around -39% at the end of March.

➡️ ETFs

They are also recording significant losses. It is important to remain calm and continue investing. Such phases are part of the game. I will not repeat further details.

➡️ Distributions

In March, I received 31 distributions on 15 payout days. I am grateful for this additional income stream. Everyone should build up such additional income.

This time, the distributions from my three large ETFs were not made on March 31, but in the first few days of April. This means that there should theoretically be 34 distributions. Numerous corrections and cancellations of dividends from REITs were not taken into account. With $O (+1,62%) , $OHI (+2,31%) , $LTC (+1,77%) and $STAG (+1,26%) there were therefore some cancellations and new dividend distributions. Although this was a major bureaucratic effort, it was usually a cause for celebration. This is because the REITs initially distribute dividends from current net income. If there are then corrections in the following year, it is determined that a distribution is also made from the already taxed retained earnings. This subsequently reduces the company's tax burden and I have noticed that I pay less capital gains tax and solidarity surcharge. So more cash in my pocket for reinvestment.

➡️ Cashback

In March, I received a small amount of income from an expense report, which I invested directly in my custody account. More on this under subsequent purchases.

➡️ Subsequent purchases

The additional purchases were financed from the expense report and, above all, from the bonus paid out by my employer. I am grateful for this, as my employer is not doing well at the moment.

I made numerous additional purchases in several ETFs that are in my small old portfolios. I invested smaller sums $GGRP (+0,24%) , $JEGP (+1,19%) , $SPYW (+0,5%) , $FGEQ (-0,16%) and $SPYD (+0,67%) and bought a larger sum in shares of the $IWDP. On the last Friday in March, I checked my portfolio and realized that, despite careful use of the surplus, there was more cash left than I had expected. I therefore made a small additional purchase in the $VNA (+1,44%) . For me, Vonovia (like the REITs) is a kind of hedge against my own rising rent.

➡️ P2P loans

With my last P2P platform, Mintos, there were no interest or redemption payments. I still intend to withdraw all funds where released. I would even accept a full write-off to get out of the platform. The remaining amount is no longer relevant to me.

➡️ Crypto

Crypto investors continued to experience significant volatility in March. The double top predicted by some does not seem to be materializing and the indicators do not currently point to a steep rise. I am studying the charting and the macro environment for crypto, although I still have a lot to learn here. Patience and calm are still required. I am sticking to my cycle strategy, the macro situation confirms me, so there is no need for me to take any action.

➡️ And what else?

I'm currently deepening my knowledge of AI. The posts on my Instagram channel that I published in March (and others that will follow in April) were created with the help of AI. I explained my approaches, beliefs about finance and the frugal lifestyle, and my goals to AI. The AI then created suggestions for Instagram posts, including prompts and allowing for a week break at the end of the month.

There is still a lot for me to learn. I am using AI more and more intensively and deeply in my professional and private life. While colleagues are happy that an AI can write emails for them, I use it much more extensively, for example to have technical content and its effects on departments and companies explained to me at work or to have economic relationships explained to me in my private life. In addition to ChatGPT, I particularly like Grok by X, as this AI always asks questions and thus enables a fluid conversation. The AI doesn't just reproduce facts, but also evaluates my ideas and classifies them, for example whether I should already use part of my nest egg to buy more quality stocks at favorable prices. Her suggestion was perhaps to wait until after the refinancing of short-term US government debt, when there might be less downward volatility in the market. This recommendation is based on my thesis mentioned above.

March was also a month of fasting for me, not for religious reasons, but because I want to and always intend to. I like to use the time after fasting to change my habits, adjust my diet and vary my sports units and routines. For me, this is particularly easy after fasting - the time afterwards generally feels like a new beginning.

➡️ Outlook

In April we will continue to see negative signs in the portfolio. I have now placed a limit order, which I hope will be triggered. The annual electricity bill is also due. I'm curious to see how much will be returned, the refund will certainly go into the custody account. It will also become clear whether I will increase my discount due to higher electricity costs. Until then!

Links:

Social media links can be found in my profile, you can also take a look at the Instagram version of my review.

SAP shines with Buy rating from Jefferies & Company

The shares of SAP $SAP (+0,67%) recently attracted the attention of analyst Charles Brennan of Jefferies & Company Inc. Despite lowering the price target from 295 to 280 euros ahead of the quarterly figures, the rating remains at 'Buy'. Brennan sees only minor hurdles for SAP to maintain stable business momentum in the first quarter. Notably, while SAP is not immune to a prolonged downturn, it has been a 'relative safe haven' over the past quarter. The new price target is based on moderate adjustments to forecasts, especially given the weak performance of other stocks in the sector. On the day of the analysis, SAP shares fell 4.1 percent to 238.95 euros, but offer a promising upside potential of 17.18 percent compared to the new price target. The trading volume increased to 1,191,970 shares, while the stock gained 1.1 percent over the course of the year. Investors can look forward to the next balance sheet presentation on April 22, 2025, which will provide further insights into the company's performance.

DAX under pressure due to US tariff war

In the US, the announcement of new tariffs is causing unrest on the German stock market. On Thursday, the DAX fell by 3.1 percent to 21,717 points. The news from overseas was seen as a serious burden for the German economy. While a 20 percent tariff on imports from the EU was widely expected, the higher tariffs of over 50 percent on Asian imports surprised many and could trigger a stronger global trade shock. The effects are already being felt: shares in sporting goods manufacturers suffered particularly badly, with Adidas down 11.7 percent and Puma 11.2 percent. Siemens suffered a fall of 8 percent after announcing the takeover of a company for 5.1 billion dollars. In contrast, companies without export exposure, such as Vonovia, showed a positive development and rose by 7.4 percent. Yields on ten-year German government bonds also fell by 8 basis points, while the euro rose by 2 percent to around 1.1050 dollars.

Sources:

https://www.finanzen.net/nachricht/aktien/sap-se-aktie-jefferies-company-inc-gibt-buy-bewertung-bekannt-14367936

https://www.finanzen.net/nachricht/aktien/xetra-schluss-us-zollkrieg-wirbelt-kurse-durcheinander-dax-3-1-14368156

SAP overtakes Novo Nordisk as the most valuable company in Europe

The SAP share $SAP (+0,67%) shares are currently showing an impressive upward trend. In an exciting race, the technology group from Walldorf has overtaken Novo Nordisk $NOVO B (-2,62%) and thus secured the title of the most valuable company in Europe. With a market capitalization of 314 billion euros, SAP has overtaken the Danish company, whose value has fallen to around 310 billion euros. This remarkable change is the result of a successful recovery in SAP shares, which have benefited greatly from the company's innovative cloud strategy. This strategy marks a turning point: instead of just selling software licenses, SAP now offers a form of rental via the cloud that is more flexible and appealing to customers. In addition, the boom in the field of artificial intelligence has significantly supported the positive development. In contrast, Novo Nordisk shares have suffered a dramatic fall of almost 50% since their record high last June, due to increasing competition in the lucrative field of weight loss drugs.

Trump threatens new tariffs on oil from Russia

President Trump is causing a stir in the US by announcing a series of tariffs that could have a fundamental impact on trade. On Wednesday, he unveiled the introduction of 25% tariffs on all foreign vehicles, to come into force from April 2. Trump referred to this day as "Liberation Day" and hinted that other trade agreements could also be on the brink. Particularly alarming is his threat to impose 25% tariffs on oil and gas from Venezuela, which could not only strain US trade relations with several countries but also destabilize global energy markets. The EU has already responded with countermeasures to the previously introduced tariffs on steel and aluminum. Trump emphasizes that the tariffs should be fair and pleasant for other countries, but at the same time he hints that higher tariffs are on the cards if other countries try to harm the US economically.

Sources:

https://www.n-tv.de/wirtschaft/SAP-ist-jetzt-Europas-wertvollstes-Unternehmen-article25651782.html

https://finance.yahoo.com/news/live/trump-tariffs-live-updates-trump-threatens-oil-tariffs-on-russia-scholz-says-eu-prepared-to-respond-to-steel-aluminum-levies-191201517.html