Category Archives: Performance Review

Performance review 9M 2022 – Comment: “David Einhorn, Bumsbuden & Short selling”

In the first 9 months of 2022, the Value & Opportunity portfolio lost  -15,8% (including dividends, no taxes) against a loss of -27,0% 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 2022:

Partners Fund TGV: -42,6%
Profitlich/Schmidlin: -20,6%
Squad European Convictions -20,4%
Ennismore European Smaller Cos –6,6% (in EUR)
Frankfurter Aktienfonds für Stiftungen -12,2%
Greiff Special Situation -5,0%
Squad Aguja Special Situation -21,2%
Paladin One -21,4%

Performance review:

Overall, the portfolio was again more or less in the middle of my peer group. Looking at the monthly returns, it clearly shows that the rebound in July until Mid August was short lived and that August and September turned out to be big down months again, after the disastrous June:

Read more

Performance Q1 2022 – Comment: “Podcasts & Inflation”

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

2021 Performance review – 2022 Outlook

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

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%

Read more

PerfOrmance Review Q2 2021 – Comment “Expectation Management”

In the first 6 months of 2021, the Value & Opportunity portfolio gained  +14,7% (including dividends, no taxes) against a gain of +13.8% 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 6M 2021:

Partners Fund TGV: +22,1%
Profitlich/Schmidlin:  13,3 %
Squad European Convictions +18,54%
Ennismore European Smaller Cos +16,01% (in EUR)
Frankfurter Aktienfonds für Stiftungen 12,35%
Greiff Special Situation 3,45%
Squad Aguja Special Situation 10,37%
Paladin One
5,94%

Read more

Performance review Q1 2021 – Comment: “Age and Investing skills”

In the first 3 months of 2021, the Value & Opportunity portfolio gained  +7,6% (including dividends, no taxes) against a gain of +7.9% 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 3M 2021:

Partners Fund TGV: +17,5%
Profitlich/Schmidlin: 5,34 %
Squad European Convictions +9,52%
Ennismore European Smaller Cos +6,08% (in EUR)
Frankfurter Aktienfonds für Stiftungen 7,27%
Evermore Global Value  7,85%USD)
Greiff Special Situation 1,87%
Squad Aguja Special Situation 6,49%
Paladin One
4,75%

Read more

Performance Review 2011-2020 – Lessons learned, Outlook 2030

After the 2020 Performance review a few days ago, this time a more “in depth” look into the 10 year performance of the portfolio. For the record: The Performance page of the blog is now fully updated 😉

As this has become a very long post, these are the main sections:

  1. Numbers & Stats for the Portfolio (plus Benchmark discussion)
  2. Flop 15 & Top 15 positions
  3. 2011-2020 Macro events
  4. Style /Process /System
  5. Main lessons learned
  6. Outlook 2021-2030

1. Numbers & Statistics

The hard numbers: Over the 10 years from 12/31/2010 to 12/31/2020, the portfolio gained +270,3% against +122,7% against the Benchmark (Eurostoxx50(25%), Eurostoxx small 200 (25%), DAX (30%), MDAX (20%), all performance indices including Dividends).. In CAGR numbers this translates into 14,0% p.a. for the portfolio vs. 8,3% p.a. for the Benchmark. As a graph this looks as follows:

Read more

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%

Read more

Performance review 9m 2020 – Comment “Covid 19 Portfolio Lottery & the allure of speculation”

In the first 9 months of 2020, the Value & Opportunity portfolio gained  +3,7% (including dividends, no taxes) against a loss of -6.9% for the Benchmark (Eurostoxx50 (25%), Eurostoxx small 200 (25%), DAX (30%), MDAX (20%), all TR indices).

Since inception (01.01.2011), this translates into +201 % vs. 98%  for the Benchmark.

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 2020:

Partners Fund TGV: +6,3%
Profitlich/Schmidlin: -4,1%
Squad European Convictions +5,99%
Ennismore European Smaller Cos -19,82% (in EUR)
Frankfurter Aktienfonds für Stiftungen -6,1%
Evermore Global Value  18.37%(USD)
Greiff Special Situation -3.69%
Squad Aguja Special Situation 12.45%
Paladin One 15.94%

Read more

Performance review Q2 2020 – Comment: “What’s going on ?”

In the first 6 months of 2020, the Value & Opportunity portfolio gained  +0,9% (including dividends, no taxes) against a loss of -9.6% 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 6M 2020:

Partners Fund TGV: +0.9% 
Profitlich/Schmidlin: -4,1%
Squad European Convictions -4.7%
Ennismore European Smaller Cos 7.49% (in GBP)
Frankfurter Aktienfonds für Stiftungen -13.5%
Evermore Global Value  -23.6%(USD)
Greiff Special Situation -4.2%
Squad Aguja Special Situation -0.2%

Since inception (01.01.2011), this translates into +193,0% vs. 93.1%  for the Benchmark.

Read more

« Older Entries