On Stocks | Mellinckrodt

April 15, 2018
Georg Oehm
Information on M3

Correction in March continues—disagreeable development of fund price

In March, the correction at the stock markets, which had started in February, continued. In contrast to the previous months, Mellinckrodt’s performance was not stellar, with the biggest decline of the fund price to date since the fund was launched. The extent of the decline is comparable with the cumulative decline in the crisis months January and February 2016. This was caused by various aspects....

March 28, 2018
Georg Oehm
On Stocks

Is Trump switching the stock exchange light to red or is there light at the end of the tunnel?

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...

Correction at the stock market—active funds stand the test of time

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...

February 28, 2018
Georg Oehm
On Stocks

What do you do when the stock exchange light turns yellow?

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...

February 8, 2018
Georg Oehm
On Stocks

Dear Robert Halver, we don‘t believe in the almightiness of the central banks. Therefore, smart preparation is in order for boom, bang, pow.

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...

February 8, 2018
Georg Oehm
Information on M3

Slight decline of stock markets

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...

A look into the engine room of the Mellinckrodt fund shows the systematics of its success

I. Engine room The engine room of a ship is significant as speed and overhead are particularly important for its value. Taking a look into the engine room will give you an impression and facilitate the answers to questions about the aspects of speed and overhead. For what types of drive are engines available? Are you still sailing or are you traveling with a galley propelled by muscle power? You...

January 22, 2018
Georg Oehm
Information on M3

Looking back at a successful stock market year 2017

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....

December 13, 2017
Georg Oehm
On Stocks

Grab the Chinese dragon by its horns!

The dragon is awakening: Why China is important for stock investors

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...

December 13, 2017
Georg Oehm
Information on M3

Fund information as of the end of November 2017

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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