Search Results for: Play Magnus

“Trading Corner” Part 1 – The rules, German Basket Cleansing & neW Trade: Play Magnus Group (ISIN NO0010890726)

Disclaimer: This is not investment advice. PLEASE DO YOUR OWN RESEARCH !!!!!

Follow up

A big thank you top all readers who either commented on my open question  if and how to include “Trading positions” into the blog. Overall I concluded that I can allow myself the luxury of a small allocation to “trades” as long as I do it consistently and with good risk management. One of the luxuries of a private investor is indeed that one can allow oneself some fun without needing to explain it to third parties and having fun is important to stay motivated.

Following some additional deliberations, my approach (for the time being) will be the following:

  • I will allow myself up to max 10% and up to max 7 trading positions at any given time going forward
  • In order to track them I will write short summaries with a clear “game plan” for the position
  • Close ot in case of a pre defined loss is a must
  • The maximum time allowed will be set at 12 months and either they go out or get upgraded to my other “buckets” in order to avoid a lot of “Trade goes wrong and becomes investment” positions
  • However, the “German Basket” will be “sacrificed”, as this honestly is already some kind of “trading portfolio”

German Basket “cleansing”:

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Short cuts: Hello (again) Magnus And Forced German Stock Delistings (Centrotec)

Disclaimer: this is not investment research. PLEASE DO YOUR OWN RESEARCH !!!!

Play Magnus Group – Again

I really hesitated if I should keep this private but then decided against it. Believe it or not, I have again bought shares in Play Magnus. After initially buying the stock at around 16,90 NOK per share, I sold the shares at a loss at 14 NOK per share. Buying now again a 2% position at 17 NOK per share looks extremely stupid, but these are the reasons why I still did it:

  • when I bought the shares initially, I knew very little about them and I underestimated the volatility of Norwegian small caps which can easily move+-10% on a single day
  • With the stock falling so quickly and with no news, I was afraid that some people might know more about the Q3 numbers which would be the first quarterly earnings after the IPO

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BioNTech SE – “One hit wonder” or Game changing Biotech platform ?

This is not investment advice. PLEASE DO YOUR OWN RESEARCH !!!

Extra Health Warning

I guess some old time readers will think: Now that guy really lost his marbles or so. I have very little knowledge about Biotech companies and the industry in general and nothing qualifies me to write about a Biotech stock. My only experience with Biotech companies during the 10 years of the blog was Swiss based Actelion, but only as a special situation with a Spin-off component. So you might take this post as a warning signal that markets have become overheated and the author of this blog has indeed lost his marbles.

Management Summary:

Despite my limited experience and understanding of the sector, I do think that BioNTech represents an interesting “bet” on the success of the underlying mRNA technology and the ability of BioNTech to establish (or having already succeeded) a platform that will yield much more than just this one blockbuster Covid-19 vaccine but many other successful vaccines and cancer drugs (and more). Their intention to become a “full fledged” pharmaceutical company could be the start of a long “Compounding story” if successful, but there are also clearly many risks involved. 

BionTech history  IPO & “Pivot”

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Book review: “How Life imitates Chess” – Garry Kasparov

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By coincidence, I downloaded this book before I got interested in Play Magnus a few months ago. However this clearly motivated me to move the book to the front of the reading list…..

Garry Kasparow has been named as one of the greatest Chess players of all time and became Chess world chmapion in 1985 at the age of 22 and held the title over 15 years. After his chess carreer, he surprisingly went into politics. As a funny side note: Kasparov was involved in founding the first online chess company in 1999. In between he coached younger chess players, for instance Magnus Carlsen in 2009.

In this book, Kasparov tries to transport strategic lessons from Chess into fields like business, politics and investment. In between he also covers his greatest matches, hardest opponents (Karpov !!) and the lessons he learned both, from victories and defeats.

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Performance review 2020 – “Freak Accident”

As this is the 10 year mark of the portfolio, there will be a two part performance review. This is part 1 for 2020, part 2 for the 10 year period will follow in short time.

In 2020, the Value & Opportunity portfolio gained  +27.6% (including dividends, no taxes) against +4,5% for the Benchmark (Eurostoxx50(25%), Eurostoxx small 200 (25%), DAX (30%), MDAX (20%), all performance indices including Dividends).

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 2020:

Partners Fund TGV: +28,2% (15.12.) 
Profitlich/Schmidlin: +9.54% (30.12.)
Squad European Convictions (30.12.) +20,4%
Ennismore European Smaller Cos (30.12.) -10.9% (in EUR)
Frankfurter Aktienfonds für Stiftungen (30.12.) +0.83%
Evermore Global Value (30.12.) -7,0% (USD)
Greiff Special Situation (30.12.) +0.2%
Squad Aguja Special Situation (30.12.) +34,8%
Paladin One (30.12.) +30,1%

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My 21 (+6) Investments for 2021

Following an annual tradition once a year I’ll try to review my current portfolio by writing short summaries/update for each individual position. This year, only 11 of the 20 companies from last year are still in the portfolio and I have 16 new positions which is a (Covid-19 driven) record in turnover. 6 of the 27 shares are part of a “basket trade” on a recovery in tourism.

The summaries of the previous years can be found here:

My 20 investments for 2020
My 22(+1) Investments for 2019
My 21 investments for 2018
My 27 investments for 2017
My 27 investments for 2016
My 28 investments for 2015
My 24 investments for 2014
My 22 investments for 2013

1. TFF Group (7,2%)

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Panic Journal Season 2 – The Dancing is getting Much Harder

Back in lock down mode

Four weeks after my first post of “season 2” it is pretty clear: Wave 2 of Covid-19 is definitely here and growing.

In contrast to my assumption and the general feeling 4 weeks ago, Europe is now back in lock down mode. Certain areas in the UK, Spain, France, Italy and Belgium went into different forms of lock down already a few days ago. Here in Germany I think many Germans got the message, when the German Health Minister Jens Spahn had to announce that he got infected a few days ago

A “lock down light” will come into force in Germany on Monday with restrictions on contacts and closure of Restaurants and Bars. Austria just announced a harder version which for instance disallows any private visits after 8 pm which in effect is a 8pm curfew under another name.

What’s different this time compared to the first lock down ?

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Portfolio

Portfolio as of 31.12.2020

Name Weight Perf. Incl. Div Holding period
Boring
Installux 2.2% 175.8% 8.7
G. Perrier 4.7% 345.5% 7.8
Bouvet 5.3% 589.9% 6.4
SFPI (Dom Security) 2.3% 1.8% 4.5
Netfonds 2.2% 6.0% 0.3
Buffett/Munger
Partners Fund 5.3% 95.5% 5.3
Tonnellerie Frere Paris 7.0% 132.4% 10.0
Vostok Emerging Finance 2.8% 81.8% 1.7
Zur Rose 4.6% 241.4% 1.8
Sixt Vz. 3.3% 73.8% 0.8
Richemont 2.8% 50.3% 0.8
Richemont Wrt 0.0% #DIV/0!
Washtec 1.8% 28.9% 0.8
Mediqon 0.4% 7.9% 0.8
Different/Outsider
Admiral 7.9% 103.2% 6.5
Thermador 3.8% 111.4% 7.5
Naked Wines 9.0% 87.5% 4.1
Opportunistic / Special situation
AOC Fonds 5.0% 20.7% 0.4
FBD Holdings 3.6% 11.1% 0.7
Agfa Gevaert 4.0% 3.4% 0.6
Play Magnus 2.5% 37.3% 0.1
Siemens ENergy 3.7% 36.4% 0.1
Travel/Leisure Basket
Hostelworld 1.3% 52.9% 0.1
Dufry 1.1% 23.5% 0.1
ENAV 0.8% -2.6% 0.1
Anheuser Busch 1.9% 3.8% 0.1
Southwest 0.9% -1.5% 0.1
JD Wetherspoon 0.9% -0.8% 0.1
Cash 8.9%
Boring 16.7%
Buffett/Munger 28.0%
Different 20.6%
Opportunistic 25.7%
Cash & cash like 8.9%
100.0%