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@Markus1987 absolutely correct, the good timing was pure coincidence & had little to do with good foresight - in February 2020 I honestly wouldn't have expected us to be in lockdown a month later & prices to crash like that. Just as I didn't expect them to recover so quickly & a war to break out in Europe in 2022. To be fair, I didn't go all in in March 2020, but bought two positions each month in equal tranches starting in February 2020. That's how some positions came into the portfolio at rock bottom prices but also some positions at higher prices. I started the second portfolio precisely to have a comparison of how much the accidental good timing makes a difference. My hope & expectation is that the start timing will matter less and less as the time to maturity increases (>10 years) and then a statement can be made for it as to whether the strategy is working. Scientifically, both the trending value strategy as well as momentum is well researched and should allow for long term excess returns over the market. Whether this is the case in the future we will find out so - I am still confident and try to report as transparently as possible. Here I have still summarized the core elements of the strategy: https://www.valueinvestments.ch/anlagestrategie-verm%C3%B6gensverwaltung Thanks for your inputs 🙂 I am always happy about constructive feedback.
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