Georg Oehm
Entrepreneur with a faible for braces & shorts (as clothes and investments) who believes in personal development of people & proper and hard work to solve problems & organise projects. Focus on negotiations and investing – always with the end in mind.
The volatility at the stock exchanges is rising. Even casual bystanders have probably realized by now that the stock exchange light is yellow.
But what are the reasons for the greatly increasing insecurity of the investors? With the world economy in a synchronous growth phase, it is difficult to see why it has come to price declines at this time.
Four aspects will catch your eye when you track the...
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The correction at the stock markets in February 2018 clearly left its mark. In the universe of European stock funds, an outperformance of the actively managed products compared to the passive products is very noticeable. Mellinckrodt, Mainfirst Top European Ideas, and the Frankfurter Aktienfonds für Stiftungen have all done significantly better in this first correction after almost two years than...
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The election is coming up shortly in Italy, and the markets show little concern before the event. Very different from the sentiment with respect to Brexit or the presidential election in the USA or France. The more surprising is it that Ray Dalio, the fund manager of the biggest hedge fund worldwide, has come into the spotlight of the media with his huge short positions in European stocks. The economy...
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Stock market expert Robert Halver expects that the central banks will prevent the financial bubbles from bursting. We are not so sure about this. The volatility guys from the computer kitchen showed the markets last week how it can go when what is not supposed to be does happen. Flash-crash-wise it went by quickly, but the volatile crypto crash may not be over yet.
Risks
I. The price of oil and...
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From early December 2017 to late January 2018 the global stock markets experienced an intense price increase, in which Mellinckrodt was able to partake, not least because the fund was fully invested until late January.
Please note that on the day this report is published the portfolio structure is completely different. We started to starkly reduce the stock quota on February 1. We are currently...
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The year 2017 took a very positive course for stocks, and the Mellinckrodt fund, too, showed a very encouraging development with a price increase of +18.32%. Since the fund launched in late 2013, the capital gain has totaled +47.79%.
Mellinckrodt as European all-cap fund with focus on Switzerland and Germany was able to further increase its lead over the ETFs at the DAX and the Stoxx 600 in 2017....
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Why China is important for stock investors.
Everyone is talking about Bitcoin—you’re better off keeping your eyes on oil.
This is not about your kids learning Chinese or about you buying Alibaba stocks. This may or may not make sense. Twenty-five years ago, China was, from an economic standpoint, as big as Turkey. Since then, the Chinese have been knocking on the door of the U.S. and are...
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In November 2017, stock markets developed differently. While the S&P 500 in the U.S. and the SMI in Switzerland were up slightly, DAX and Stoxx Euro 600 lost a little. The Mellinckrodt fund, too, showed a slight decline in prices of 2.5%.
Mellinckrodt’s performance of approximately 15% in the year 2017 is still significantly above that of the DAX and Stoxx Europe 600.
In the top 10 positions,...
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I. Macro Hypothesis
The economic cycle is far advanced. Due to the concurrently positive economic development worldwide we assume that European consumers will have more money in their pockets this year and next year.
The favorite child of the Germans, the automobile, should benefit from this. When business goes well, companies treat their employees to extra benefits. Individuals, too, concern themselves...
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I. Bahnhofstraße
Among the world’s shopping streets, Bahnhofstraße in Zurich, Switzerland, stands out with the highest rents for shops in Europe. CHF 15,000 (approx. €13,000 or $15,000) per square meter (approx. 10.8 square feet) annually are normal. It is clear what stores you’ll find there if rent for retail space of 100 square meters (just over 1,000 square feet) comes out to CHF 1.5 million...
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