@Koenigmidas Will you come along and add some much-needed glamour, my king?

What are your hottest tips for Erfurt if you've got the cash to spare 🤑🤑🤑?

Monday:

Unsurprisingly, both June and July were the hottest months ever recorded in Europe. This is having an increasingly significant impact on the economy. Both shipping routes and electricity production are being restricted. Low water levels in the Rhine, Danube, and Po rivers, in particular, are causing problems. Wildfires are also affecting tourism.

https://www.handelsblatt.com/politik/deutschland/klima-juni-und-juli-waren-in-westeuropa-so-warm-wie-noch-nie/100246102.html

Wednesday:

Unlike $MUV2 (+0,14%) Munich Re, $HNR1 (+0,72%) Hannover Re increased its profit to 1.4 billion euros in the first half of the year. Overall, prices in the reinsurance business fell by about 4%. Despite this, revenue still rose by 0.2%.

https://www.handelsblatt.com/finanzen/banken-versicherungen/versicherer/versicherer-hannover-rueck-steigert-gewinn-und-haelt-jahresziel/100245193.html

Germany has approved an early retirement pension for all children born in 2020 or later. Parents can either have the money deposited into an account they open themselves, or the Bundesbank will invest it directly in the stock market on the children’s behalf. Parents and grandparents can contribute additional funds to the 10 euros per month.

https://www.tagesschau.de/inland/innenpolitik/kabinettsbeschluss-fruehstartrente-100.html

Thursday:

Record revenue for car rental company $SIX2 (+0,41%) Sixt in the first half of the year. Overall, revenue increased by 9% to 2.1 billion euros. Profit rose by more than 28% to 84.5 million euros.

https://www.welt.de/newsticker/dpa_nt/infoline_nt/wirtschaft_nt/article6a7d56bea87e8142c31ce6f0/sixt-erzielt-im-ersten-halbjahr-rekordumsatz.html

Friday:

One day after the quarterly results and the confirmed forecast, $EKT (+3,68%) Energiekontor revised its forecast because wind farms in Scotland will be connected to the grid later than expected. This is, of course, a major misstep in capital market communication. The information from Scotland must have come in yesterday; otherwise, it’s also legally questionable.

https://www.finanzen.net/nachricht/aktien/kurswechsel-energiekontor-aktie-stuerzt-ab-gewinnziel-fuer-2026-drastisch-gesenkt-15874042

Here's the in-depth breakdown of the recently announced Munich Re (Munich Re) $MUV2 (+0,14%)
(ETR: MUV2) H1 / Q2 2026 results:

🚀 Record profits & reinsurance boost

Munich Re is surging in the second quarter and first half of 2026, shattering analysts’ estimates:

Net Income (Q2 & H1): In Q2 2026, net profit soared to 2.21 billion EUR (the analyst consensus was only 1.79 billion EUR). For the entire first half of the year, the company posted an all-time record profit of 3.93 billion EUR (compared to 3.18 billion EUR in the prior year).

Reinsurance Division: The Group’s core business contributed a solid EUR 1.89 billion to net income (H1: EUR 3.37 billion).

ERGO Primary Insurance: The ERGO segment also delivered a net income of approximately 321 million EUR in Q2, strongly supported by investment income.

🔮 Extremely disciplined combined ratio & lull in major losses

While discipline in underwriting new risks is a top priority, Munich Re is benefiting from minimal major losses:

Minimal impact from major losses: Major losses in Q2 amounted to a mere EUR 191 million (just 4.9% of net insurance premium income vs. an expected ~18%).

Rock-solid combined ratio: In P&C reinsurance, the combined ratio in Q2 stood at an excellent 68.9%.

Pricing power at renewals: During the July renewals, Munich Re consistently declined business with insufficient prices (-9.1% in volume) and demonstrated strict “margin-before-volume” discipline.

🤖 62% of the annual target already achieved & annual forecast

Forecast rock-solid: The annual profit forecast of 6.3 billion EUR for the full year 2026 is unequivocally confirmed.

Target within reach: With already EUR 3.93 billion in net income after 6 months, over 62% of the annual target has already been achieved by mid-year!

Capital Return & Solvency: With a solvency ratio well above the target range (>280%), dividends and the ongoing 2.25-billion-euro share buyback program are in full swing.

⚡ 💡 Jack’s take

Munich Re has once again coldly outdone Allianz in terms of profitability! A half-year profit of just under 4 billion EUR amid a shrinking major-loss burden underscores Munich Re’s truly exceptional position. The fact that the group would rather turn down business than accept poor prices highlights its rock-solid pricing power. Over 62% of the annual target has already been achieved at the halfway point—unless the hurricane season escalates dramatically this fall, reaching the 6.3 billion EUR mark is practically a formality!

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$AKAM (-1,52%)
$MUV2 (+0,14%)
$UA (-3,33%)
$OKLO

Another month has passed, and it’s time once again to take a quick look into the engine room...

...actually, not much has changed in the big picture, except that after 38 months of consistent performance, the 40k mark has been broken, and so the final sprint of the first half has now begun...

...it’s not a high-flyer portfolio, but so far it’s been a solid growth story, and as the saying goes, every little bit helps...

...which is why YTD hasn’t changed much either...

...nor has it since the very beginning...

...the structure, however, is a different story, and so there were a few changes to the portfolio this month...

》New Additions《

$WINC (+0,41%) 244.01x

$MUV2 (+0,14%) 1x

$AII (+2,92%) 101x

》Exits《

$EVD (-2,74%) 25x

$3750 (-2,77%) 8x

》Top 3《

$HAUTO (-3,68%) +24.42% (+122.67%)

$VAR (-1,2%) +19.82% (+60.72%)

$DTE (-0,26%) +10.61% (-1.53%)

》Flop 3《

$3750 (-2,77%) -10.58% (+128.32%)

$ASWM (-1,18%) -9.86% (+17.84%)

$YYYY (-0,18%) -7.01% (-4.80%)

》Dividends《

This month, there were €252.24 in net dividends, representing a 12.24% increase year-over-year.

》CONCLUSION《

Everything’s business as usual, so we can relax and prepare for next Friday’s upcoming DATEV certification 👍🏻

I wish everyone continued success, and may dividends and growth be on our side 🫡

I had bought the stock back then during the Trump tariff dip. I didn't foresee how things would turn out now either, but I certainly thought the bashing of Dell at the time was completely over the top.

Half of it has $MUV2 (+0,14%) gone

$MUV2 (+0,14%)

• Preliminary Q2 net income of approximately €2.2 billion clearly exceeded the analyst consensus of €1.786 billion.

• This was driven by very low major loss charges in property and casualty reinsurance and very strong investment results. ERGO posted a net profit of approximately €0.3 billion.

• With a first-half profit of approximately €3.9 billion, Munich Re believes it is on track to achieve its annual profit target of €6.3 billion for 2026.

Dear gq community,

Today I munched on my remaining carrots and added 2 more shares of $MUV2 (+0,14%) for €508.80, thereby doubling my investment.

As soon as I have fresh carrots again after buying a car, I’ll increase the position to a total of 3% of the portfolio’s value. 🥕🥕🥕

Your Bunny

Munich Re (known internationally as Munich Re) is the world’s most profitable reinsurer—and the market seems to be simply ignoring it. P/E ratio of 9, dividend of 24 EUR per share, profit target of 6.3 billion EUR confirmed, Moody’s upgrades the financial strength rating to Aa2 — and yet the stock is trading 19% below its all-time high. Is this a classic case of market overreaction? Q1 2026 was historically strong: consolidated net income up 57% to 1.714 billion EUR, return on equity 19.7%, market capitalization 71.2 billion EUR. The headwinds are real—$805 billion in excess capital is weighing on premiums. The July renewal cycle, which has just begun, will determine the stock’s price performance over the coming months. A first positive sign: On June 29, the stock crossed above the 50-day moving average. Munich Re has already repurchased over 1.1 million of its own shares since May.

Key points:

- Q1 2026: Group profit of EUR 1.714 billion (+57% YoY) — well above expectations

- Combined ratio: 66.8% — exceptionally strong

- Full-year forecast: EUR 6.3 billion net income — confirmed

- Share buyback: EUR 2.25 billion total program — over 1.1 million shares already repurchased

- Moody’s upgrade: Financial strength rating raised from Aa3 to Aa2

- Share price: approx. 495 EUR — −19% from all-time high (609.40 EUR, April 2025)

- Market capitalization: 71.2 billion EUR

- June 29, 2026: Crossed above the 50-day moving average — first technical buy signal

What are your current thoughts on $MUV2 (+0,14%) ??