Performance
Annual returns Value & opportunity Portfolio vs. Benchmark (Eurostoxx50 (Perf.Ind) (25%), Eurostoxx small 200 (25%), DAX (30%), MDAX (20%), all performance indices)
| Year | Bench | Portfolio | Perf BM | Perf. Portf. | Portf-BM |
| 2010 | 6,394 | $100.00 | |||
| 2011 | 5,510 | $95.95 | -13.8% | -4.1% | 9.8% |
| 2012 | 6,973 | $131.81 | 26.6% | 37.4% | 10.8% |
| 2013 | 9,017 | $175.04 | 29.3% | 32.8% | 3.5% |
| 2014 | 9,214 | $183.60 | 2.2% | 4.9% | 2.7% |
| 2015 | 10,363 | $209.53 | 12.5% | 14.1% | 1.7% |
| 2016 | 10,835 | $235.56 | 4.6% | 12.4% | 7.9% |
| 2017 | 12,582 | $284.72 | 16.1% | 20.9% | 4.7% |
| 2018 | 10,651 | $252.63 | -15.3% | -11.3% | 4.1% |
| 2019 | 13,620 | $290.30 | 27.9% | 15.0% | -12.9% |
| 2020 | 14,238 | $370.31 | 4.5% | 27.6% | 23.0% |
| J | |||||
|
Since inception
|
$370.31 | 122.7% | 270.3% | 147.6% | |
|
CAGR 2019
|
8.3% | 14.0% | 5.7% |
As a graph with monthly returns:
Performance reviews
2020
Performance review Q1 2020
Performance review Q2 2020 – “What’s Going on ?”
Performance review Q3 2020 – “The Covid-19 Lottery and the allure of speculation”
Performance review 2020 – “Freak Accident”
2019
Performance review Q1 2019
Performance review Q2 2019 – “Not enough Tech”
Performance review Q3 2019 – The “Death of Value Investing” revisited
Performance review 2019 – “Value Trading & Portfolio Decay”
2018
Performance review Q1 2018
Performance review Q2 2018 – “Skate to where the Puck is going”
Performance review Q3 2018 – “Anti Buffet or Beyond Buffett”
Performance review 2018 – Outlook 2019
2017
Performance Q1 2017 – Strategy Update Money management
Performance Q2 2017 – Comment “Resisting the Siren’s song”
Performance Q3 2017
Performance 2017 & “Keep an Eye on Interest Rates & Credit Spreads”
2016
Performance Q1 2016 (Re-categorization)
Performance Q2 2016 “Brexit, Excuses and Risk Premiums”
Performance Q3 2016 “Random observations”
Performance 2016 & “The story of Mr. Cool and Mr. Crap”
2015
Performance 01/2015 (Life in zero gravity)
Performance 02/2015 (Interest rate surrender)
Performance 03/2015 (Giving money to another money manager)
Performance Q2 2015 (Ideas and execution)
Performance Q3 2015 (driving on the slow line)
Performance 2015 & 5 years
2014
Performance 01/2014 (Taking responsibility)
Performance 02/2014 (Small &beautiful)
Performance 03/2014 (P/E is not equal P/E)
Performance 05/2014 (Leave the driver in the bag)
Performance 06/2014
Performance 07/2014
Performance 08/2014 (Patient enough ?)
Performance 09/2014 (Stupid German Money)
Performance 10/2014 (Stress testing)
Performance 11/2014
Performance 12/2014
2013
Performance 01/2013 (The importance of patience)
Performance 02/2013 (Filtering noise)
Perfoemance 03/2013 (The Cyprus situation)
Performance 04/2013 (All time highs)
Performance 05/2013 (Position sizing)
Performance 06/2013
Performance 07/2013 (Did you see the Gorilla? / EM exposure)
Performance 08/2013 (Circle of competence)
Performance 09/2013
Performance 10/2013
Performance 11/2013
Performance full year 2013
2012
Performance 01/2012
Performance 02/2012
Performance 03/2012
Performance 04/2012 (Greed & Fear)
Performance 05/2012
Performance 06/2012 (BRICS, commodities)
Performance 07/2012
Performance 08/2012 (Market timing)
Performance 09/2012
Performance 10/2012 (Central Bank obsessions)
Performance 11/2012 (Lost decade for stocks)
Performance full year 2012
2011
Performance 6M 2011 (German) Part 1 & Part 2
Performance 07/2011 (German)
Performance 08/2011 (German)
Performance 09/2011 (German)
Performance 10/2011
Performance 11/2011
Performance full year 2011
