Monthly Archives: October 2021

All Swiss Shares Part 15 – Nr. 141-150

Moving forward with another 10 almost randomly selected Swiss stocks. This time, only one stock looked interesting but in that case so interesting that I initiated a 1% starter position.

141. ASMALLWORLD AG

ASMALLWORLD is a 36.4 mn CHF market cap company that was IPOed in 2018 at 9,75 CHF per share, climbed to over 20 CHF and then dropped big time even pre Covid. According to their web site their are some sort of travel community, whatever that means. Life is too short and there is a big world full of more interesting stocks. “Pass”.

142. Schaffner AG

Schaffner is a 176 mn CHF small cap that seems to be active as a specialist automobile supplier and produces components for electrical systems. A third division active in “Power Magnetics” was just sold to Swedish AQ Group, a company that I covered several years ago.

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Performance review Q3 2021 – Comment “The End of the Easy Tech Money”

In the first 9 months of 2021, the Value & Opportunity portfolio gained  +17,3% (including dividends, no taxes) against a gain of +13.9% for the Benchmark (Eurostoxx50 (25%), Eurostoxx small 200 (25%), DAX (30%), MDAX (20%), all TR indices).

Links to previous Performance reviews can be found on the Performance Page of the blog. Some other funds that I follow have performed as follows in the first 9M 2021:

Partners Fund TGV: +22,5%
Profitlich/Schmidlin:  14,7 %
Squad European Convictions +24,3%
Ennismore European Smaller Cos +19,1% (in EUR)
Frankfurter Aktienfonds für Stiftungen 15,9%

Greiff Special Situation 3,9%
Squad Aguja Special Situation 8,6%
Paladin One
14,8%

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Some links

Why Theranos was “special” among startups (or maybe not ?)

An interesting review of Michael Milken’s career as the “Junk Bond King”

Some insights into Salesforce’s unique “borderline” culture

Good article on the new Covid “wonder drug” Molnupiravir from Merck 

ValueX Vail conference presentations 

The Music business seems to be back (IPO Universal Music)

Net Interest (Marc Rubinsteins) with a look back to the 2006 ICBC IPO and the Chinese Financial system