I have placed a final tranche with $TROW (-1,3%) I have placed a final tranche at

The position is now full for the time being and I have stopped my savings plan.

Bitcoin's strength fizzles out in 24 hours + Many US stocks hit annual lows + Tesla's sales in Scandinavia slump + Okta exceeds expectations + JPMorgan puts RWE on 'Positive Catalyst Watch'

Bitcoin $BTC (-0,32%)strength completely sold off again

• Bitcoin is losing value again after a strong rise on Sunday and is trading at almost 86,000 US dollars on Bitstamp.
• Market analyst Timo Emden from Emden Research describes the price rise as a "flash in the pan", as the initial euphoria following Trump's comments on cryptocurrencies has given way to a more sober view.

Many US equities at annual lows

• Microsoft Corp. $MSFT (+1,32%)falls to a new low for the year, currently down -2.62% to $386.57. The year-to-date performance is -8.30 %.
• T. Rowe Price Group Inc. $TROW (-1,3%)falls to a new low for the year, currently -1.97 % at $103.62. The year-to-date performance is -8.41 %.
• Occidental Petroleum Corp. $OXY (+0,17%)falls to a new low for the year, currently -5.98 % to $ 45.92. The year-to-date performance is -7.04 %.
• Target Corp. $TGT (+1,34%)reaches new 52-week low, currently -3.26 % at $120.19.
• Copart Inc. $CPRT (-0,97%)falls to a new low for the year, currently -0.64 % to $ 54.42. The year-to-date performance is -5.04 %.

Tesla's $TSLA (+10,24%)sales in Scandinavia collapse

• Tesla's sales in Scandinavia recorded a significant decline in February compared to the same period last year.
• The electric car manufacturer's market share is shrinking, while customer brand loyalty is being severely tested by CEO Elon Musk's political involvement in the Trump administration.
• In recent years, Tesla's vehicles have dominated the sales charts in Norway, Sweden and Denmark.
• But the tide has turned in 2024: According to the latest registration data from Monday, Tesla (NASDAQ:TSLA) is now falling behind competitors such as Volkswagen and Toyota, which are scoring points with new models.
• The figures speak for themselves: in Sweden, only 613 new Tesla vehicles were registered in February - a drop of 42% compared to the previous year.
• The situation is even more drastic in Norway and Denmark, where registrations fell by 48% to 917 and 509 vehicles respectively.
• This trend is particularly notable as the general demand for cars, especially electric vehicles, continues to grow in these countries.

Okta $OKTA (+2,99%)exceeds expectations

• Okta Inc. fourth quarter earnings per share of $0.78 beat analyst estimates of $0.74.
• Revenue of USD 682 million exceeds expectations of USD 668.91 million.

JPMorgan places RWE $RWE (+0,06%)on 'Positive Catalyst Watch'

• The US bank JPMorgan has placed RWE shares on its "Positive Catalyst Watch".
• According to analyst Javier Garrido's commentary published on Tuesday, he expects the Essen-based company to provide encouraging news on the use of capital with the publication of its annual results.
• He sees scope for further investment cuts of EUR 3 to 5 billion, which could open the door to further share buybacks in the future.
• Garrido's fundamental rating remains "Overweight" with a price target of 47.50 euros.

Tuesday: Stock market dates, economic data, quarterly figures

• Quarterly figures / company dates USA / Asia
• 18:00 Warner Music AGM
• No time specified: Target | Best Buy quarterly figures

• Quarterly figures / Company dates Europe
• 06:45 Kuehne & Nagel Annual results
• 07:00 Bilfinger | Lindt & Sprüngli Annual results
• 07:30 Continental | Fielmann Annual results
• 09:00 Continental BI-PK
• 10:00 Bilfinger BI-PK
• 12:30 Continental Analyst Conference
• 18:00 Freenet preliminary annual results
• Without time information: Bawag Group | VAT | Thales | Prada Annual figures

• Economic data

00:30 JP: Unemployment rate 1/25

00:50 JP: Investment Q4/24

11:00 EU: Labor market data January Eurozone Unemployment rate FORECAST: 6.3% previously: 6.3%

12:30 UK: Chancellor of the Exchequer Reeves, hearing in the House of Commons

15:00 EU: ECB, APP/PEPP monthly report

No time given:

CN: National People's Congress of China, press conference

US: Import tariffs on goods from China, Canada and Mexico come into force

US: Fed Richmond President Barkin, speech at Fredericksburg Regional Alliance event

Introduction:

BlackRock and T. Rowe Price are two prominent asset managers that offer both active funds and ETFs. When deciding whether to invest in these companies' stocks, their active funds or their ETFs, it is important to understand the differences and characteristics of these investment vehicles.

Shares of asset managers:

• BlackRock ( $BLK
  ): Current share price: USD 973.92. BlackRock is the world's largest asset manager with $11.6 trillion in assets under management as of the fourth quarter of 2024. The company offers a wide range of investment products, including ETFs and active funds.
• T. Rowe Price ( $TROW (-1,3%)
  ): Current share price: USD 107.17. T. Rowe Price had USD 1.61 trillion in assets under management as of December 2024 and is known for its active investment strategies. Unlike BlackRock, T. Rowe Price does not currently offer any crypto-related products.

Active funds vs. ETFs:

• Active funds: These are actively managed by fund managers who try to outperform the market by making targeted investment decisions. Active funds usually have higher fees due to the intensive management. T. Rowe Price is known for its active funds and has recently begun to transition some of these strategies into active ETFs. Example $TTEQ
• 
  ETFs (Exchange Traded Funds): ETFs are mutual funds that trade on exchanges and typically track an index. They offer diversification and often have lower fees. BlackRock is a leading provider of ETFs, including active ETFs that have the potential to outperform the market. Example $IVV (+0,94%) or the crypto ETFs $IBIT

Cost comparison:

• Passive ETFs: Typically below 0.20% total expense ratio (TER) for standard products.
• Active ETFs: Between 0.20% and 0.85% TER for equity ETFs.
• Active funds: Well above 1% ongoing charges.

Performance comparison:

Some studies show that actively managed funds can outperform passive ETFs in certain market phases. For example, actively managed growth funds from T. Rowe Price and Fidelity outperformed the Vanguard Growth ETF over a short period.

Bottom line:

Choosing to invest directly in BlackRock or T. Rowe Price stocks offers the benefit of participating in the success of these asset managers, including their exposure to the crypto space, particularly BlackRock. However, this comes with specific business risks. Buying ETFs from these providers allows for broader diversification but reduces direct exposure to cryptocurrencies. The choice should be made based on the investment period and risk appetite.

I would be interested to know how you see this and why you chose the exact asset you have in your portfolio?

Ps: If there are any spelling mistakes or anything else, please let me know. Should be an attempt to have a discussion at a higher level.