What kind of year was it? H O L Y S H I T !

It didn't go quite as well as 2023, but it doesn't have to be +60% every year.

(https://getqu.in/BY7tzt/ Review 2023)

The excess return comes from $BTC (+1,31%) and the alt-coins I sold at the beginning of the year.

Congratulations to everyone who was invested in Pakistan and Argentina, these two actually managed to beat the S&P500. (little tip, have a look $DX2Z (+0,24%) have a look)

In developed markets, all factors have underperformed their peers, with the exception of momentum.

In the emerging markets, both Value $5MVL (+0,07%) , Quality $PEH (+0,01%) and small caps $SPYX (-0,43%) performed better than their peer group.

I have sold off some crypto this year and built up positions in several government bonds / government bond ETFs and $EWG2 (+0,57%) This now comprises almost 20% of the portfolio.

I will go into more detail at a later date as to why I built up this position.

But I can tell you this much: It has something to do with these two beauties:

$3VTE
$3EML (-0,04%)

Because I haven't shared my portfolio yet, but have been asked to do so several times, I'm using the end of the year to do so, here you go: 😘

And always remember, it doesn't matter what performance you had in 2024, what counts are lifetime returns. It doesn't do you any good to make 50%+ for 4 years in a row if you then lose 90% again.

Risk often only becomes visible when it materializes.

In the end I have to thank a very special person without whom this return would not have been possible, thank you Saylor Moon and please keep buying.

Time for a little update 🧐

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From the original 77 positions, there are now 57 left.

Many well-known, large companies that were considered safe have left my portfolio and some have been replaced by more speculative stocks. 😜

Not all of the stocks included are long-term investments, as I have a few trades that have not yet been completed or that I have just entered into. These are among others: $PAH3 (-1,47%)
$3EML (-0,04%)
$GKP (-1,75%)
$MC (+1,79%)
$RKH (+10,19%)
$PYPL (-0,26%)
$HSY (-0,42%)

If all my trades were closed immediately, I would probably already be under 50 positions.

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Where I still have concerns:

The Magnificent Seven. I have them all except $META (-0,45%) and I wonder whether this is wise, as they are already heavily weighted in my ETFs. On the other hand, these very stocks have performed well. That's why I only recently invested in $AMZN (+0,28%) and am thinking about getting Meta. 🤯

I'm particularly torn when it comes to $TSLA (-0,03%) Tesla. I bought Tesla because of Elon, Musk and all his promising projects. But in hindsight, I'm increasingly of the opinion that Tesla shares only benefit the carmaker and that it's no longer that interesting because the competition is getting better, faster and cheaper, for example $1211 (+0,49%) . Meta, on the other hand, could remain very interesting for the next few years.

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More unpopular thoughts:

Maybe I got in too early at $ASML (+1,51%) too early, 738€. Didn't wait for the bottom to form or for a reversal signal. I will definitely be more cautious in the future, especially with stocks that have already had a long profit history and are therefore at risk. That large investors/institutional investors realize profits after price slumps and this then leads to even greater price slumps.

Waste management $WM (+1,02%) very popular (hype?), fundamentally quite solidly positioned, moat available (I believe it is a duopoly in the USA) and with increasing population and consumption the future prospects should also be given. But will Waste Management deliver anything extraordinary besides a good return and a rising dividend? I don't think so and the business is neither scalable nor high-margin. Therefore, this could be one of the next candidates to be shot down.