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Kissig’s performance update: How the stock markets and my wikifolios performed in March

March started with brutal price losses due to the Ukraine war and the resulting sanctions by the West. In recent days, however, there was a virtually “V-shaped” recovery in stock prices, even though the data from economy is becoming more and more negative. The stock markets and the economy are not in sync, the stock prices anticipate the development for 12 months.

Earnings Season is nearing its end and most companies could report strong 2021 results. But the outlook for 2022 is often omitted or subject to massive caveats. The stock market often reacts(s) with dismissal, yet company leaders don’t announce anything that you can’t/couldn’t think for yourself with a normal dose of common sense. Many things are already included in the share price, especially negative ones, so that positive surprises can quickly lead to sharp price jumps.

However, investors should definitely select between speculative flash in the pan stocks that are only in a bear market rally and those stocks where the companies are fundamentally sound and will continue to perform well in the current uncertain times. With such companies in the portfolio, there is no need to fear these challenging times, even if one or the other share price should go under for a short time. Top companies are always in demand, both among global champions and among hidden champions in the small cap sector…

Putin has dropped all masks and inhibitions. In the future, no politician in the West will be able to claim that he did not know. Putin, and therefore Russia, are not a reliable partner, not an

option for the future (anymore). Without the energy sector, Russia is a global dwarf – a dwarf that has nuclear weapons. Unfortunately, this must always be kept in mind.

The Ukraine war, however, brings further insights besides the massive dependence on Russian energy supplies: the Russian army is vastly overestimated in the West. It is poorly positioned strategically, it is poorly equipped militarily, and the sanctions imposed by the West for years have largely destroyed Russian arms production. The Russians have almost nothing left but discarded military scrap. This does not reduce the threat from the east, as has been shown. But, this too is a new insight, NATO offers many advantages, it is gaining a new appreciation and Europeans will have to learn again to defend themselves. The days of simply relying on “big brother America” are over.

Furthermore, the Ukraine war has ended the era of globalization

, according to BlackRock CEO Larry Fink. In the future, production will again be more local, there will be much stricter controls on what can be supplied to whom, both in terms of defense technology but also IT, etc. Asia as the “workbench of the West” has thus also become somewhat obsolete, and the Europeans will hardly make the mistake of turning to Africa as a low-wage region. At least not on a large scale. China has long had its claws into the continent, and replacing Asia with Africa would not eliminate the West’s strategic dilemma, but only shift it.

From these developments

here will be a lot to deduce in the coming months and years, and there will be sectors and companies that will benefit massively and those that will go under. As an investor, I don’t have to know and position myself perfectly here. “My job” is much easier. I still “just” need to invest my money in the companies and management that presumably makes the best and smartest decisions for their company. Or as Warren Buffett defines investment success, “Good business, good management, good price

.”

It is exactly this cherry-picking that I enjoy so much and I think I will stay true to my hobby for a while longer….

ツStock market performanceIn

the

past month, the stock markets fluctuated quite considerably and dropped significantly in Germany and Europe – the Ukraine war is much closer here than in the USA and Europe is dependent on Russia’s energy, while the USA is largely self-sufficient in energy. In the USA, the losses were rather moderate. Technology stocks performed better overall than value stocks, which may also have been due to the more moderate interest rate hike projections that have emerged in the meantime. However, it is quite possible that the central banks (i.e. the Fed) will turn the interest rate screw faster than some people think, as inflation rates are continuing to rise significantly worldwide.

Dow Jones: +2.36 % (YTD: -4.06 % // 1 year: +5.43 %)

S&P 500: +3.09 % (YTD: -5.16 % // 1 year: +14.19 %)

NASDAQ: 4.06 % (YTD: -9.52 % // 1 year: +14.49 %)

DAX: -1.79 % (YTD: -9.94 % // 1 year: -4.68 %)

MDAX: -1.98 % (YTD: -11.25 % // 1 year: -1.75 %)

SDAX: +0.33 % (YTD: -12.29 % // 1 year: -7.13 %)

TecDAX: +2.36 % (YTD: -16.68 % // 1 year: -2.93 %)

Development of my WikifoliosSo much

for my

short monthly review. Now we come to the development of my three wikis:

Kissigs Nebenwerte Champions ▶ to the wikiInvested

capital: €2,740,100,-144

.49 (28.02.22: 130.00) +11.0 %Return

since start on 19.08

.

20: +44.3 %Return

in 2022: -3.1

%

(YTD)

Return

in 2021: +17.3 %

Return

in 2020: +27.0 % (as of 08/19)

Kissigs Quality Investments ▶ to wikiInvested

capital: €898,300.-111

.

81 (02/28/22: 109.14) +2.4 %Return

since start on 08/13

.

20: +11

.

7 %Return

in 2022: -16

.

3

%

(YTD)

Return in

2021: +24.0 %Return

in 2020: +7.0 % (as of 08/13)

Kissig’s turnaround speculations ▶ to wikiInvested

capital: €107,200.-77

.

96 (02/28/22: 83.51) -6.8 %Return

since start on 12

.

10.21: -22.1 %Return

in 2022: -14.0

%

(YTD)

Return in 2021: -9.4 % (as of 12.10.)

My small cap wiki has again performed best, although small caps tend to be among the bigger losers during correction phases. This is mainly due to the high weighting of Energiekontor, PNE and Funkwerk, which have made significant gains in recent days. The two energy stocks had already outperformed in February. Likewise, the two new additions Befesa and JDC Group were able to make pleasing gains, while I would have preferred Jungheinrich

in time.

I remain convinced of the company, but the short-term price situation for steel is having a very negative impact and the disruption of supply chains is also having a very negative impact. This time I “timed” it right; I just hope I don’t miss the timely re-entry (and for that I’m still waiting for another price setback) so I don’t miss the next cyclically driven price upswing.

There was a moderate recovery in Quality Investments

. The financial sector continued to bleed and so did the Alternative Asset Managers, which I had previously weighted highly. I reduced them in exchange for a significant increase in Berkshire Hathaway, which, with its broad positioning in the industrial and insurance sectors, should be one of the winners of the renaissance of value stocks in a rising interest rate environment. Online business models, on the other hand, are currently not at all in vogue and are posting further share price losses. Rising interest rates and high comparative figures from the previous year are clouding the outlook, especially since many offline retailers are reopening and customers (want to) enjoy presence shopping again, at least in part. So the headwind continues – for now.

And in my turnaround speculations

, there were again significant losses. There is no easy and fast money in this segment.

I would like to thank the investors who have shown their trust in me with their investments and who have already invested almost €3.75 million in the three wikis together

. This is €150,000 more than a month ago and is mainly due to the strong performance of Nebenwerte-Wiki.

In the future, I will continue to do my best to generate sustained above-average returns with the wikis. My average annual target return is 15% – however, all three wikis are plenty far away from that this year.

Disclaimer: Have the mentioned stocks on my watchlist and/ or in my portfolio/ wikifolio.


Continue reading: http://www.intelligent-investieren.net/2022/04/kissigs-performance-update-so-liefen.html

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