Over the last few weeks, I have been looking at shares from a new perspective and have started to take a closer look at balance sheets and fundamental data. 🤯

Unfortunately, I still don't use a screener and have therefore only looked at the stocks that I am familiar with in some form.

In view of the tradable shares on the global market, this is certainly a big mistake and I have some catching up to do. Nevertheless, I would like to share some of my findings with you.

I have created two lists for this purpose.

On the lists you will find stocks that in my opinion have excellent fundamental quality characteristics.

The first list contains the absolute quality companies, some of which have already proven themselves over many years, and the second list contains companies that could still become such or have not yet proven themselves long enough and could therefore be a good long-term investment. The lists are neither correct nor complete and, depending on your point of view, some stocks belong on one list or the other, or perhaps not on any list at all.

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Quality companies:

• Visa$V (-6,9%)

Duopoly, very strong profit margin,

Risks: Google Pay/Apple Pay etc.

• Waste Management$WM (-4,02%)

Long-term contracts, strong balance sheet, regular share buybacks

• Stryker$SYK (-5,39%)

• Intuitive Surgical$ISRG (-8,5%)

• Novo Nordisk$NOVO B (-6,66%)

• Essilor Luxottica$EL (-4,31%)

Strong moat, good growth,

Weaknesses: low return on equity

• Hershey$HSY (-1,95%)

Solid cash flow, >50% return on equity,

Weaknesses: approx. 90 % of sales generated in the USA, trend towards healthier food

• ASML$ASML (-2,09%)

• Alphabet$GOOGL (-2,74%)

• Hermes$RMS (-4,6%)

• Wal-Mart de Mexico$WALMEX* (-5,99%)

The only retail food group I know of with a significant margin of

significant margin of >5%, stable growth and healthy balance sheet,

Growing middle class in Mexico and expansion in Central America.

Weaknesses: Mexican peso

• Lotus Bakeries$LOTB (-2,66%)

Continuous sales and profit growth, very nice balance sheet, but a high stock valuation

high stock valuation (like the vast majority in this list)

• Ferrari$RACE (-3,06%)

• Zoeties$ZTS (-4,18%)

Market leader, high margin, solid cash flow, growing dividend,

• Idexx Laboratories$IDXX (-3,38%)

Very nice growth stock with high customer loyalty, strong growth, >80%

return on equity, solid balance sheet,

• alliance$ALV (-8,43%)

• Microsoft$MSFT (-2,36%)

• Procter & Gamble$PG (-4,13%)

• Pepsi$PEP (-1,81%)

• Adobe$ADBE (-4,21%)

• L'Oreal$OR (-1,22%)

• Schneider Electric$SU (-8,15%)

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Opportunities and future quality Company?

• Rio Tinto$RIO (-6,32%)

• 3i$III (-7%)

• Main Street Capital$MAIN (-6,56%)

• Mutares$MUX (-8,93%)

• Altria$MO (-2,25%)

• Terna$TRN (-4,98%)

• Pfizer$PFE (-4,59%)

• Vinci$DG (-5,04%)

• Mercadolibre$MELI (-4,71%)

• Caterpillar$CAT (-4,89%)

• BAE Systems$BA. (-9,05%)

• Lululemon$LULU (+4,59%)

• Generali$G (-6,61%)

• Energiekontor$EKT (-6%)

• Vici$VICI (-2,83%)

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Thanks for reading and I look forward to additions, corrections and exchanges of opinion.

Are there any of the stocks mentioned that are of particular interest to you?

Has anyone delved particularly deeply into one or other stock?

Then have a nice weekend 🥳

Hello everyone,

I have looked at the stocks in my portfolio with my new but still incomplete knowledge of fundamental analysis and am of the opinion that some stocks are heavily overvalued.

Perhaps they will fall back to their fundamental value soon or at some point?

Yes, actually this is bound to happen in the long term.

So I'm wondering whether I should sell now and invest the capital in fundamentally favorable stocks or in my ETFs?

I also find it interesting that some stocks were already overvalued when I bought them and some only became overvalued later.

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In my opinion, some of the stocks in my portfolio are overvalued:

(not exhaustive)

Palantir $PLTR (-11,65%)

Ferrari $RACE (-3,06%)

Rheinmetall $RHM (-10,98%)

Agree Realty $ADC (-2,24%)

visas $V (-6,9%)

Hermes $RMS (-4,6%)

Microsoft $MSFT (-2,36%)

Nu 😅 $NU (-6,44%)

Asml $ASML (-2,09%)

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On the other hand, I think they are favorably valued at the moment:

(some are not really cheap, but maybe worth buying)

Amazon $AMZN (-3,47%)

Abc $GOOGL (-2,74%)

Sofi $SOFI (-9,67%)

Lockheed Martin $LMT (-3,69%)

Berkshire $BRK.B (-6,3%)

Caterpillar $CAT (-4,89%)

Occidental Petroleum $OXY (-7,71%)

Rio Tinto $RIO (-6,32%)

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I think I probably wouldn't regret it if I just sold everything and put it in the $HMWO (-5,73%) and put it in the But I enjoy individual shares and the risk is limited. Still, I would like to know how you read valuations and translate them into action decisions and what you think about my specific situation and would possibly act.

ASML - One of my favorite European stocks and now finally back in the portfolio ❤️

is still on my "Europe wish list":

Hermés $RMS (-4,6%) (currently not yet in the portfolio)

LVMH $MC (-4,14%)

Rheinmetall $RHM (-10,98%)

Ferrari $RACE (-3,06%)

Novo Nordisk $NOVO B (-6,66%)

and under €40 the Porsche $P911 (-4,36%) share (also not yet in the portfolio)

$RMS (-4,6%) erste Tranche

sold this morning with profit all problems out of the world 😍

and now it's going back in and is now staying. Although it's now significantly more expensive than when I bought it last time - almost €600 difference - the savings plan on it will balance itself out over the years 🙌

Now that I was forced by my financial emergency to go to the depot and $RMS (-4,6%) which I now had to wait for because it was sent over from another deposit to Trade Republic, my pride and joy was actually that I had it and could afford it :( maybe just do a savings plan on it What do you think?

But since the money wasn't enough for everything, it's really annoying because I also bought shares before, and I had put my cash reserve in for the purchases. But well

But sometimes it happens in life that something unexpected happens where you don't expect it and it throws you a little out of joint :/ There's just no other way and then private things are more important than the portfolio ......

And because I still didn't have enough money, I decided to go for the ETF $VWRL (-4,62%) to get out of this financial situation, which has now worked out, thank God 🙏!!!!.

Everything is now back on track and now I can continue to manage the portfolio as normal, even if it's now completely out of kilter proportionally because the shares are totally overweight, but hopefully that will come back over time thanks to the ETF, which is where most of the money goes in every month.

I hadn't touched the shares. It was bad enough having to touch them in the first place. except for $RMS (-4,6%)

except for the new shares I had bought

$6501 (-6,67%)

it was annoying but I think there are good opportunities again where you might be able to get in at some point

the shares are saved monthly with 50 € per share

the etf with 250 € depending on the month of course more

In my opinion, everything is represented by a good mix of all possible different sections, which puts me in a good position for the next few years. And now that all the problems are out of the way, I can only focus fully on the portfolio here

Energy, luxury, consumer goods, industry, telecommunications, real estate, food, gastronomy, healthcare, software companies, military and defense, banking and insurance.

Airbnb $ABNB (-5,32%)

Amazon $AMZN (-3,47%)

Axon $AXON (-7,15%)

Cadence $CDNS (-6,34%)

Constellation Software $CSU (-3,77%)

Costco $COST (-3,7%)

Crowdstrike $CRWD (-5,76%)

Fair Isaac $FICO (-6,29%)

Ferrari $RACE (-3,06%)

Hermes $RMS (-4,6%)

Hims & Hers $HIMS (-7,52%)

Intuit $INTU (-5,41%)

Intuitive Surgical $ISRG (-8,5%)

Mastercard $MA (-7,72%)

Microsoft $MSFT (-2,36%)

Moody's $MCO (-0%)

MSCI $MSCI (-6,26%)

Palantir $PLTR (-11,65%)

Robinhood $HOOD (-9,32%)

Roblox $RBLX

Shopify $SHOP (-5,55%)

Tesla $TSLA (-9,97%)

The Trade Desk $TTD (-5,16%)

Transdigm $TDG (-8,47%)

Select a maximum of 8-10 positions from this list that have the best risk/reward ratio and are reasonably valued. Then there is a good chance of outperforming the S&P 500.

Your opinion?

Good morning everyone,

I had something like a company outing last night, actually it was just a big meal with no other program.

I noticed something about myself and am now thinking (worrying?) a lot about it.

😰

When the invitation to the company outing came, it was immediately clear to me that I wouldn't be going this time, as I don't enjoy such outings and see them as a waste of time.

But then I thought about my client, who I like, and how frustrating it must be for her if she organizes a company outing and no one comes or everyone cancels, so I said yes and took part.

I was able to have a good chat with my table neighbors on site, but I was still bored and I was very happy when it was over.

Up to this point, I was still of the opinion that most people attend such events out of politeness and a sense of duty.

But I was proved wrong, on the return flight everyone was so happy and euphoric that they even sang out loud. I can't put it all into words. In any case, the majority of the group must have really enjoyed this event.

That gave me a lot to think about and now I'm wondering whether I might have a social weakness or something and therefore don't enjoy such events?

Why am I writing this in a financial forum? To put it in @Ji_hyun 's words, the brightest minds I know are gathered here and I would like to know your opinion.

Have a nice weekend

ASML $ASML (-2,09%) (semiconductor equipment)

Visa $V (-6,9%) (payment transactions)

Mastercard $MA (-7,72%) (payment transactions)

Moody's $MCO (-8,29%) (credit ratings)

S&P Global $SPGI (-6,99%) (credit ratings and indices)

Hermès $RMS (-4,6%) (luxury goods)

Fair Isaac Corporation $FICO (-6,29%) (credit scoring)

Coca-Cola $KO (-3,58%) (beverages)

Apple $AAPL (-6,8%) (consumer electronics and technology)

Nvidia $NVDA (-7,25%) (AI and GPUs)

Also also worth mentioningbut not in the top 10:

Transdigm $TDG (-8,47%) (aerospace)

MSCI $MSCI (-6,26%) (financial services)

Cadence $CDNS (-6,34%) (EDA software)

Synopsys $SNPS (-6%) (EDA software)

Ferrari $RACE (+0,02%) (luxury cars)

What do you think? Have I forgotten an interesting company / share?

The world's population is getting older and older, an irreversible demographic change with considerable economic consequences.

This article is intended to provide investment ideas and impetus. The stocks mentioned do not, of course, constitute investment advice, but merely serve as examples of potential beneficiaries of demographic change. Historical developments are no guarantee of future returns.

The main source is the short analysis "How to invest as the global population ages" by Goldman Sachs [1], which, however, does not name any specific stocks.

I have also added additional sources and charts.

__________

🌍 Demographic change: growth and ageing of the world's population

The world's population will grow to almost 10 billion people by 2050. But it is not just the number of people that is increasing, their age structure is also changing dramatically. [2]

Increase in the older population:

• The proportion of people aged 60 and over is rising from 8% (1950) to 21.5% (2050).
• In 2050, 2.1 billion people will belong to the over-60 age group.

Source: [2]

Regional differences:

Europe & North America have the oldest populations & remain the most affected demographically.

Latin America, the Caribbean & Asia: The proportion of over-60s will more than double between 2015 and 2050, reaching around 25 %.

Africa remains the youngest region: in 2015, there were 21 countries worldwide with a birth rate of 5 children per woman, 19 of which were in Africa. However, it should be noted that current statistics from 2024 show that the birth rate per woman in Africa was already just 4.07 in 2023 and could fall to 2.79 by 2050. [3]

While industrialized countries are struggling with an ageing society, Africa remains the most dynamic and youngest region in the world. This development can also have an economic impact and open up new investment opportunities. [2]

Goldman Sachs also comments in the article with similar figures, according to which the global population is expected to increase by around 20% by 2050 and senior citizens will make up a disproportionate share. The number of people over the age of 65 is expected to double from 800 million to 1.6 billion during this period. [1]

In view of this demographic development, there are opportunities to benefit from precisely this trend. Opportunities lie in targeted investments in sectors that could benefit from the growing proportion of older people.

🚑 Healthcare: A growing market worth billions

Facts:

• In the USA, people over the age of 65 already account for 36% of healthcare expenditure, although they only make up 18% of the population. Age-related diseases such as cardiovascular disease, diabetes and neurological disorders are driving up costs. [1]
• Alzheimer's cases are even expected to double worldwide by 2050.

Possible profiteers:

Medical technology

• Medtronic ($MDT (-5,77%) ) - (cardiac pacemakers, diabetes technology)
• Stryker ($SYK (-5,39%) ) - (orthopaedic implants, surgical devices)
• Siemens Healthineers ($SHL (-5,55%) ) - (imaging, diagnostics)

Pharmaceuticals

• Novo Nordisk ($NOVO B (-6,66%) ) - (Diabetes & Obesity)
• Eli Lilly ($LLY (-7,56%) ) - (Alzheimer's, Diabetes)
• Roche ($ROG (-5,6%) ) - (Oncology, Diagnostics)

🏡 Senior Living & Care: Bottlenecks in nursing homes worldwide

Facts:

The UK has a shortfall of over 30,000 senior units by 2028. [1]

In Germany, France and Italy there is a shortage of nursing home places due to the ageing population. [1]

In the US, only 2% of people over 65 live in nursing homes, leading to an increasing demand for home care and telemedicine. [1]

Potential beneficiaries:

Care providers

• Brookdale Senior Living ($BKD (-7,49%) ) - (senior living, care facilities)

Homecare

• ResMed ($RMD (-3,06%) ) - (sleep apnea, ventilators)
• Fresenius Medical Care ($FME (-6,55%) ) - (dialysis, home therapy)
• Coloplast ($COLO B (-2,08%) ) - (ostomy care, incontinence products)

Telemedicine

• Teladoc Health ($TDOC (-2,35%) ) - (virtual doctor visits, digital health solutions)
• Hims & Hers ($HIMS (-7,52%) ) - (telemedicine & e-health)

Anti-Aging

• L'Oréal ($OR (-1,22%) ) - (skin care, cosmetics)
• Estee Lauder ($EL (-8,7%) ) - (luxury cosmetics, skin rejuvenation)
• Revance Therapeutics ($RVNC ) - (Botox alternative, wrinkle treatment)

🚢 Leisure & consumption: The new "silver economy"

The following chart shows the distribution of wealth in Germany depending on the age of the main income earner. [4]

It is clear that older people tend to have higher wealth than younger age groups. This is reflected in the significantly higher values for the percentiles for age groups aged 50 and over. In particular, the groups aged between 50 and 74 have the highest assets.

The trends are also similar internationally:

• The wealth of older people is 3x that of millennials.
• Over-60s control more than 50% of consumer spending in many developed countries.
• The global silver economy could reach a volume of USD 15 trillion by 2030 (Oxford Economics).

This observation underlines the economic importance of the older generations and their central role in wealth distribution and consumer spending.

Possible beneficiaries:

Luxury

• LVMH ($MC (-4,14%) ) - (fashion, jewelry, wine & spirits)
• Hermès ($RMS (-4,6%) ) - (Exclusive Fashion & Accessories)
• Richemont ($CFR (-6,82%) ) - (Swiss luxury watches & jewelry)

Cruise (Over 60s book a third of all cruises worldwide [1])

• Royal Caribbean ($RCL (-4,34%) ) - (Cruises for seniors & families)
• Carnival ($CCL (-4,58%) ) - (mass market cruises)
• Norwegian Cruise Line ($NCLH (-3,71%) ) - (premium cruises)

Motorhome manufacturers/ recreational vehicles (47% of motorhome users are over 55 years old, In the UK, two thirds of over 55s have a motorcycle license, which may indicate a growing market for motorcycles and accessories. [1])

• Thor Industries ($THO (+0,82%) ) - (motorhomes, campers)
• Winnebago ($WGO (-0,67%) ) - (motorhomes & caravans)
• Harley-Davidson ($HOG (+1,01%) ) - (motorcycles and entry-level electric motorcycles)

🤖 Technology & automation: solution to the labor shortage

Facts:

The labor shortage caused by an aging society is becoming a global challenge. Automation, AI and robotics could help close the skills gap. [1]

Profiteers:

• ABB ($ABBNY (-5,19%) ) - (industrial robotics, automation)
• Fanuc ($6954 (-6,27%) ) - (robotics, factory automation)
• Intuitive Surgical ($ISRG (-8,5%) ) - (robot-assisted surgery)
• Siemens ($SIE (-7,45%) )- (automation & also medical technology)

🧠 Conclusion:

Demographic change offers long-term investment opportunities. Early investment in the right sectors can benefit from rising spending on health, care, leisure and technology.

I myself am still looking for one or two individual investments and am a little annoyed that I didn't get into Hims & Hers earlier, although I have been on the verge of doing so several times. Apart from the luxury segment with LVMH, the portfolio also includes Siemens as a conglomerate in the field of automation.

Do you explicitly take demographic change into account in your investments, e.g. in the form of individual shares?

Which shares do you have in your portfolio or do you still see them as an opportunity?

Thanks for reading!

_________

Sources:

[1] https://www.goldmansachs.com/insights/articles/how-to-invest-as-the-global-population-ages

[2] https://www.bpb.de/kurz-knapp/zahlen-und-fakten/globalisierung/52811/demografischer-wandel/

[3] https://de.statista.com/statistik/daten/studie/1343516/umfrage/entwicklung-der-fertilitaetsrate-in-afrika/

[4]

https://www.iwd.de/artikel/mit-dem-alter-waechst-das-vermoegen-489710/