Thursday 15 January 2015

Your ten biggest investments today?

a woman blowing dream bubbles, Berlin, Germany

Writing a blog is very much like a diary with the possibility of some outside interaction in the form of comments. The comments from readers as either agreement or disagreement are what makes a blog come alive and the best of all are discussions between readers.

Just like a commentator wrote yesterday in the Stock Portfolio page that "ETFs are essentially boring as hell...". The very same goes for writing a diary and therefore I hope to receive some feedback and discussions.

What I would find interesting to find out would for instance be: How many stepped heavily into the oil and gas industry? Did anyone jump into Russia? Taken a closer look at the companies in Greece lately, at least they have survived a couple of years now? Who bought companies in India during the autumn?

To visualise all that I guess the easiest way is to ask one very simple question:

Which are your ten currently biggest investments?


Fredrik von Oberhausen said...

I guess I should start.

My ten biggest are:

Deutsche Bank
Assoc. Brit. Foods
Kernel Holding SA
Münchener Rück

It is indeed a big mixture when one looks upon it. Financial, Agriculture and Technology seems to be the main focus.

Anonymous said...

I currently hold Tesco, Casino, Deere, Apple, Microsoft and SAP.

Anonymous said...

In my stockportfolio I have


Fredrik von Oberhausen said...

Supermarket and technology. Interesting mixture. If I do not remember wrong I will need to re-analyse Apple very soon... from feeling I would think they might be fairly valued today but maybe they are still not.

Insurance and banks. For me the insurance companies have been doing well but I have had extremely poor performance on my German banks. Looks as if you have made much better pciks than me!

Murmlos said...

AIG, Citigroup, Protector Forsikring, Vardia and Kinder Morgan are my largest, Talanx and Industrivärden runner ups and small positions in HM, Elekta and Coca Cola.

I have a smallish position in Bonheur (yes, i read lundaluppens blog :)) but no other oil company...

Anonymous said...

Hi! avanza, HM, Berkshire, SHB, AssaAbloy, Trelleborg, Investor, SCA, ...
Yes, I buy Vostok Nafta.
Oilprice will stay low at least another year. Wait too buy oil companies. And stay out of oil prospectors, oil rigs... Who prosper when oil price is low? Transport, airlines... And when energy is cheap? Industry...

Fredrik von Oberhausen said...

Hi Murmlos!

So heavy in finance/insurance! Elekta I must admit that I do not have on my radar. HM/Inditex are companies I would love to own for life but I am always scared of the high P/E. Bonheur has already started to recover and LL knew what he was doing even though he had some doubt in one article when he realised how heavy he was into the oil industry. We all read him! He was the finance blog King of Sweden!

Fredrik von Oberhausen said...

Hi Anon3,

Banks, Swedish heavy industry and investment companies they have all been doing very well for the last couple of years!

Vostok Nafta I also did not know anything about but I took a look at it. It is interesting to see how the share price of some companies develop.

One could have bought Vostok Nafta around June 2009 for 1 € and during the next three years nothing happened to the share price and then during nine months it goes from 1 € to 5 €. I hope you bought it when it was around 1 €!

I also think one should stay out of oil at the moment which one reason for why I did not by more of BP or invested in another oil company for that matter. Looking back I also should have waited with Fugro.

Yeah, the share price of SAS and Lufthansa are definitely increasing due to this reason.

Regarding energy price... I almost fell off my chair the other day when I realised we pay 3x as much here in Germany for the energy in comparison to the most expensive southern region in Sweden. 3x! All of it is of course taxes to the German government so it is not to the benefit of the energy producers and the German industry is also not paying it.

Till said...

dt. Telekom
Coca Cola

Fredrik von Oberhausen said...

Hi Till,

You have a very diversified portfolio both in terms of business as well as geographically. It looks safe and good! Torstar (Canadian media/publishing company) as well as Zumtobel (Austrian light company) I had never heard about before so I had to take a closer look at them.

I thought you stopped writing your blog when you took the new job in finance? I take it that you are still going strong and from what I see plenty of publications on your blog!

Till said...

Hi Fredrik

I just don't publish anything about specific companies anymore. But I still looking every day at the blogger community (I like your blog very much) and write my thoughts about more general things.

Anonymous said...


Archer Daniels Midland
Wiley John+Sons
CIE Richemont
Mitsui Co


Fredrik von Oberhausen said...

Hi Anon4,

In my opinion a very nice diversification in regions as well as type of business!
Baywa (agricultural company) I know I have seen the name before but did not know what they were doing! Looks interesting!
Two Japanese companies I also find clever to own today.

How do you find and analyse your companies?

Anonymous said...

Hi Fredrik,

I like the idea to invest in companies with not too exciting business models that cannot easily be disrupted (trade, food, agriculture). Therefore I pay more attention to the business model than the stock valuation and accept higher prices . I also prefer companies that have a history of a sustainable cash generation in the past with an reliable increase of book value over the long term. The tech companies IBM and Fujifilm I purchased are an exception from that rule since both exhibit business models in a very competitive and easily changeable environment. But they have both an amazing history to adapt to new environments and future might offer great chances for them, since they are in transition (e.g. Fujfilm moves away from the production of cameras and photofilm it is well known for, and enters the medical and the pharmaceutical market). And they are moderately valued.


Fredrik von Oberhausen said...

Hi Anon4,

Thanks for your investment strategy explanation!

Fujifilm I have no feeling for their products and business model but IBM is well known to me. As soon as there is some new cool analytical equipment then often IBM took part in the development. They seem to have a way to look ahead and have been doing so for many, many years.