Search Results for: Play Magnus

Play Magnus – Chess.com Take-over or take under ? –> Shout out for Experts on Norwegian Take over laws !!

Posted on by 9 comments

Background:

Play Magnus is a stock some of my readers my remember. I initially invested (speculated) in October 2020 at 16,5 NOK per share, but sold quickly after my initial timing was really bad with a loss of around -20%.

I then bought again in November 2020 at a higher price (~17 NOKs) . I then managed to sell around 1/3 of the position close to the high at 38 NOKs per share. This year, i sold the remainder of the position shortly after Russia invaded Ukraine to manage portfolio volatility. Overall, I made 0,5% on the whole trade (pre taxes, pre costs) which clearly shows that my trading skills are not very good.

I still followed the stock as I liked the business, the management team and thought that at some point in time this could be interesting. Actually I just talked this Monday with a friend that at prices below 10 NOK, the stock looks interesting.

The stock chart shows how volatile the ride from Play Magnus was since its IPO:

Read more

Some Portfolio updates – VEF, FBD, Play Magnus, BioNTech, JustEat Takeaway.com

Posted on by 13 comments

My long term readers know that I am relatively sloppy with updates especially when a stock does well. When I have time then I try to look at least briefly into annual reports when they are published .

VEF (formerly Vostok Emerging Finance)

VEF had a pretty decent 2020. Share price went up in 2020 by +37%, although faster than NAV which went up by around 22%. This was however achieved with some volatility:

What I missed is that they dis a share placement in November 2020. As usual, the reporting is very transparent so one can see that 4 out of 12 investments lost value. However the biggest position, Brazilian Creditas was also the best performer. Around 2/3 of the portfolio is now Brazilian Fintech. Their only new investment in 2020 was an Indian mobile payment company which makes it their first Indian investment.

Read more

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

Posted on by 38 comments

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”:

Read more

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

Posted on by 27 comments

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

Read more

Value & Opportunity 2022 Performance Review & 2023 Outlook

Posted on by 10 comments

2022 overview

2022 was a in absolute terms pretty bad, in relative terms however very lucky. The Value & Opportunity portfolio lost  -3,9 % (including dividends, no taxes, AOC fund as of 30.09.) against -16,7% 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: -33,6% (30.12.) 
Profitlich/Schmidlin: -19,2% (30.12.)
Squad European Convictions -14,1% (30.12.)
Ennismore European Smaller Cos (30.12.) +3,8% (in EUR)
Frankfurter Aktienfonds für Stiftungen (30.12.) -17,3%
Greiff Special Situation (30.12.) -3,5%
Squad Aguja Special Situation (30.12.) -19,2%
Paladin One (30.12.) -19,1%

Most of the “Long only funds” in the peer Group were clustered together near the benchmark in a tight range of -14% to -19%. The only positive peer was Ennismore, which is a long/short funds.

Read more

All Norwegian Shares part 1 – Nr. 1-15

Posted on by 7 comments

Good bye Denmark, hello Norway !!
As with previous series (Germany, Switzerland & Denmark) I will tackle the  Norwegian shares in random order. The main reason for this is that I find this funnier compared to working down the list in Alphabetic order. The first batch of 15 stocks has resulted in two watch list candidates. Let’s go !

  1. Kahoot!

Kahoot! is 1,1 bn EUR market cap former “growth darling” that was part of many “naive Tech investor” portfolios. Kahoot! is an online learning platform that addresses both, private customers as well as the corporate learning market. As many other Tech companies the financial report is a gibberish of Non-GAAP adjusted numbers. On a GAAP level, the company is loss making and cash seems to be shrinking. At 7x P/S this still looks much to expensive. “Pass”.

2. AF Gruppen

Read more

Performance Q1 2022 – Comment: “Podcasts & Inflation”

Posted on by 25 comments

In the first 3 months of 2021, the Value & Opportunity portfolio lost  -6,6% (including dividends, no taxes) against a loss of -8.6% 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 3M 2022:

Partners Fund TGV: -20,09%
Profitlich/Schmidlin: -3,67 %
Squad European Convictions -6,4%
Ennismore European Smaller Cos +0,42% (in EUR)
Frankfurter Aktienfonds für Stiftungen -4,29%
Greiff Special Situation -1,42%
Squad Aguja Special Situation -8,31%
Paladin One -6,59%

Performance review

Read more

Panic Journal RUSSIA / UKRAINE Edition PART 2

Posted on by 14 comments

Mental preparation

Another week and the war still goes on. My subjective feeling is that currently, a surprising large amount of investors still believe that this war will end relatively soon, one way or the other. However, if the war will last for a few years, we would be still far away from a turning point with a lot of escalation potential (stopping the oil and gas pipelines, “dirty weapons”, tens of millions of refugees etc). In the short term however, especially in European markets we could see some rallies if some good news is surfacing.

Consequences As mentioned already, I desperately hope (and still pray) for a quick end, but mentally, as an investor, I prepare for a much longer conflict. What does that “preparing mentally” mean ?

Read more

2021 Performance review – 2022 Outlook

Posted on by 4 comments

2021 overview

2021 was a (for me) surprisingly strong year for equity markets with double digit growth across many equity markets.

In 2021, the Value & Opportunity portfolio gained  +22,5% (including dividends, no taxes) against +18,5% 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: +38,2% (30.12.) 
Profitlich/Schmidlin: +20,0% (30.12.)
Squad European Convictions (30.12.) +25,0%
Ennismore European Smaller Cos (30.12.) +23,1% (in EUR)
Frankfurter Aktienfonds für Stiftungen (30.12.) +17,3%
Greiff Special Situation (30.12.) +5,5,%
Squad Aguja Special Situation (30.12.) +5,4%
Paladin One (30.12.) +14,6%

Read more

My 28 Stocks for 2022

Posted on by 21 comments

Following an annual tradition once a year I’ll try to review my current portfolio by writing short summaries/update for each individual position. Unfortunately, I didn’t manage to do this before year end in 2021, but better late than never.

This year, 17 of the 27 companies from last year are still in the portfolio and I have 11 new positions which again looks like quite high turnover. Again, part of that high turnover is driven by “killing” the travel basket and creating a new “Energy Transition /Electrification” basket.

Overall, the number of positions is on the upper end of my preferred range of 20-30 titles. So any new investments will need to be financed through a sale of existing positions.

The summaries of the previous years can be found here:

My 21 (+6) Investments for 2021
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 (6,0%)

Read more

« Older Entries