Sold Stocks during December 2022

 

Hmmm... In the end of November the high inflation, prices for gas an electricity was getting to me and my thoughts were as follows. I want to get rid of RWE since it has increased too much and I'm not overly joyed about their energy production so then I might as well balance the massive share price gain by getting rid of some long standing bad investments (German banks!) in my German broker account. So I did.

Secondly... The dollar is high, inflation should lead to higher prices in the fast food chains and people have less spending power meaning they should (but will they though) reduce how much they spend in the fast food chains. I should potentially not have sold off McDonalds since they are not a fast food chain, however, property prices are also going down. I'll keep an eye on McDonalds moving forward.

Restaurant brands bought for 6,438.30 € and sold for 7,580.74 € with a profit of 1,142.44 € (17.7%) and additionally I've received 85.79 € in dividends.

Yum! bought for 5,317.92 € and sold for 5,752.46 €, leaving a profit of 434.54 € (8.2%) and additionally I've received 83.58 € in dividends.

Stock Y was bought for 4,387.05 € and sold for 1,093.06 €, giving a loss of -3,293.99 € (-75.1%).

McDonalds was bought for 4,806.72 € and sold for 7,220.49 €, leaving a profit of 2,413.77 € (50.2%) and additionally 223.65 € was paid out in dividends.

RWE was bought for 4,581.29 € and sold for 13,929.30 €, with a profit of 9,348.01 € (204.1%) and additionally I've received 1,652.50 € in dividends.

VW was bought for 2,003.14 € and sold for 1,623.34 €, with a loss of -379.80 € (-19.0%) and additionally 339.96 € had been paid out in dividends.

Deutsche Bank was bought for 9,483.77 € and sold for 4,204.58 €, giving a loss of -5,279.19 € (-55.7%), over the years I've received 807.45 € in dividends. Held since 2012.

K+S was bought for 5,195.89 € and sold for 4,647.95 €, giving a loss of -547.94 € (-10.6%), additionally I've received 724.40 € in dividends. Held since 2013.

Commerzbank was bought for 7,649.76 € and sold for 5,736.56 €, causing a loss of -1,913.20 € (-25.0%), additionally I've received 905.30 € in dividends over the years. Held since 2012.

My average holding time of divested companies are now at 3.35 years.

Dividends during May 2022

 

Several dividend payments were made during the month of May of which some were more substantial than others...

TJX paid out 17.65 €, 2.65 € going to taxes leaving me with 15 € in cash on my broker account.

RWE provided me with 297 € of which 78.33 € went to tax and 218.67 € ended up on my account.

BASF made a hefty payment of 476 € however 125.54 € went to the taxman and I ended up with 350.46 €.

Talanx paid out 128 €, 33.76 € to taxes and 94.24 € as cash to me.

H&M paid out 186 € and 23.13 € was withheld in taxes, leaving me with 162.87 € in cash.

K+S provided 48 €, 12.66 € to taxes, giving me 35.34 € in cash.

VW paid out 90.72 €, of which 23.92 € went to the taxman and I received 66.80 € in cash.

E.On. paid out 196 €, also here tax of 51.69 € was removed, and I got 144.31 € on my broker account.

DB paid out 84 € with 22.15 € withheld and 61.85 € as cash on my account.

And finally Intel paid out 45.97 €, US withheld 6.89 € in tax and I received 39.08 € to invest into new ventures.

Analysis of DB 2020

Company: Deutsche Bank

ISIN DE0005140008 | WKN 514000

Business: A German bank that now finally after 12 years have taken the decision to make cuts and changes in the organisation and have gone from ~100k to 87k employees. They have four segments: Coprporate bank, Investment bank, Private bank and DWS (asset management).

Active: in 60 countries world wide.

P/E: -15.3

Here you can find the previous analysis of DB 2018.

The P/E for DB is negative with -15.3, which seems to be the normal state for DB, while the P/B is very good with 0.2. The end result is still the same because Graham says no to this one. Earnings to sales and the ROE is negative and being a bank the book to debt ratio is low with only 0.04.

In the last five years they have had a yearly decrease in interest income by -06% and this gives us a motivated P/E of around 6 which means that DB is most likely overvalued by the market.

They pay no dividends.

Future: It is the same story for Deutche bank as it is for Commerzbank. They completely failed to be on the ball when it comes to online banking and for DB that's additionally tried so hard to play with the big asset management boys they have simply put failed miserably and in that process they started to lose their oh, so important private banking accounts. I do not see a bright future for DB and Coba.

Conclusion: Graham would not go for it and neither would I. DB is not a healthy bank and what they have done as of late should have happened back in 2008/2009 and on top of it much more should be done.

Dividends from RWE, VW, Hugo Boss, BASF, Talanx, Fast Retailing, E.On, H&M, K+S, DB and ETF Russia: May 2018

May has been a massive month when it comes to dividends but I am still far from what I need to get for securing retirement.

From my 330 shares in RWE I received in total dividends in the size of 495 €. From this the German government happily removed 130.55 € in taxes and I was left with 364.45 € as cash on my broker account.

To find out more about RWE then please click here.

In VW I have 12 shares and in total they paid out 47.52 €. Also here taxes were removed in the size of 12.53 € and I received out 34.99 € in cash.

To find out more about VW then please click here.

Also Hugo Boss paid out dividends and for my 35 shares I received in total 92.75 €. Germany once again took taxes in the size of 24.46 € and I received a total of 68.29 € as cash.

To find out more about Hugo Boss then please click here.

The wonderful chemical company BASF paid out dividends on my 80 shares in the size of 248 €. In this case I paid 38.43 € in taxes and therefore received 209.57 € paid out as cash on my broker account.

To find out more about BASF then please click here.

My only insurance company Talanx paid out 112 € for my 80 shares and from this was taken 29.54 € in taxes which left me with 82.46 € in cash.

To find out more about Talanx then please click here.

For my 6 shares in Fast Retailing I received a gift of 9.18 €. On this I paid 1.41 € in taxes which left me with around two beers or 7.77 € in cash.

To find out more about Fast Retailing then please click here.

My 400 shares in E.On gave be 120 € in dividends even though they probably could have used that money more wisely. From this was taken 31.65 € in taxes and I received 88.35€ in cash on my broker account.

To find out more about E.On then please click here.

For my 603 shares in H&M I received a total of 285.34 € in dividends. From this was taken 35.49 € in taxes and I received 249.85 € as cash in my hand.

To find out more about H&M then please click here.

My only mining company K+S paid out 84 € in dividends for my 240 shares. The German government once again comes with their little fingers and removed 22.15 € which gives me in the end 61.85 € as cash on my account.

To find out more about K+S then please click here.

These guys could and should really not have paid out a dividend but still for my 420 shares in DB I received a total of 46.20 €. From this 12.18 € went to taxes and I was left with 34.02 € in cash.

To find out more about DB then please click here.

My 550 shares in ETF Russia reinvested a total of 101.16 € and no taxes were paid out on this.

To find out more about ETF Russia then please click here.

That was everything for the month of May I wish that it would be like this every month.

To see my total dividend flow then please visit the Stock Dividends page that has now been updated.

Analysis of DB 2018

Company: Deutsche Bank 

ISIN DE0005140008 | WKN 514000

Business: A German investment bank. They have five products and services pillars: Private & Business Clients (classical banking services: accounts, deposits, loans, pensions products), Asset & Wealth Management (helps institutions and wealthy individuals to increase their wealth across all asset classes), Corporate Banking & Security (sales, trading etc of financial products such as equity, bonds etc. as well as dealing with mergers and acquisitions), Global Transaction Banking (world wide banking services and products for corporate and institutions) and finally None-Core Operations Unit (dirty laundry).

Active: in 70 countries world wide.

P/E: -31.5

Here you can find the previous analysis of DB 2017.

The P/E for DB is negative with -31.5, which is horrible, while the P/B is very good with 0.4. The end result is still the same because Graham says no to this one. Earnings to sales and the ROE is negative and being a bank the book to debt ratio is low with only 0.04.

In the last five years they have had a yearly decrease in interest income by -0.8% and this gives us a motivated P/E of around 8 which means that DB is most likely overvalued by the market.

They pay a meaningless dividend of 1%, please stop it, which correspond to a negative value due to their losses.

Conclusion: Graham says no and also I have to say no. Not because the bank, based on P/B, looks expensive but simply due to that I cannot plough any more money into DB. I will remain a grumpy shareholder.

DB annual report 2017

The report in full you can find here and for my previous summary of the DB annual report 2016 then please click on that link and to find out more about DB then visit DB analysis 2017.

The C/I is improving and was now at 93.4% and once again for the third year in a row they published a loss. This time it was-751 million €. So one can pretty much conclude that the C/I is meaningless to follow for DB since it has no meaning in terms of them starting to have some earnings. If we look at the income statement below then we see that their interest income decreased one step further 24 billion compared to 25.6 billion that they received last year. same trend as with Coba. I truly wonder what the German banks are up to. The CEO has now been forced out and we are back to having a German CEO that have spent his entire life in DB. I have mixed emotions about this and in my opinion it is time for the chairman to throw in the towel. I am generally chocked that they have not managed to remove more full time employees from DB it is almost as if it is a governmental institution. In general I am against massive workforce cuts but in the case of DB I suspect this should have been done directly when the financial crisis hit almost 10 years ago.

Conclusion: DB is still performing very poorly. Their internal hire of the new CEO feels like grasping for a needle in a haystack. It is time for the chairman to go and I will remain as a grumpy shareholder, by now, for the sixth year in a row.

Dividends from Deere, VW, Fast Retailing, K+S, Talanx, BASF, DB & Hugo Boss: May 2017

Sorry for the long title but plenty of companies have paid out dividends during the last month and since I no longer have so much time I just try to bunk them all together as much as possible.

For my 30 shares I received 16.44 € in dividend. From this was taken 2.47 € in taxes and I was left with 13.97 € as cash on my broker account.

To find out more about Deere then please click here.

For my 12 shares in VW I received a total of 24.72 € in dividends. From this was taken 6.51 € in taxes and I was left with 18.21 € as cash on my broker account.

To find out more about VW then please click here.

For my 6 shares in Fast Retailing I received a total of 8.47 €. From this was taken 1.30 € in taxes and I was left with 7.17 € as cash on my broker account.

To find out more about Fast Retailing then please click here.

For my 240 shares in K+S I received in total 72 € in dividends (awful!). From this was taken 18.99 € in taxes and I was left with 53.01 € in cash on my broker account.

To find out more about K+S then please click here.

For my 80 shares in Talanx I received in total 108 € in dividends. From this was taken 28.48 € in taxes and I was left with 79.52 € as cash on my broker account.

To find out more about Talanx then please click here.

From my 47 shares in BASF I received a total of 141 €. From this was taken 37.18 € in taxes and I was left with 103.82 € as cash on my broker account.

To find out more about BASF then please click here.

From my 420 shares in DB I received 79.80 € in dividends. From this was taken 21.04 in taxes and I was left with 58.76 € as cash on my broker account.

To find out more about DB then please click here.

From my 35 shares I received 91 € and from this was taken 24 € in taxes which leaves me with 67 € as cash on my broker account.

To find out more about Hugo Boss then please click here.

To see my total dividend flow then please visit the Stock Dividends page that will soon be updated. It should be mentioned that this will not become a good year for dividends for me.

DB analysis 2017

Company: Deutsche Bank 

ISIN DE0005140008 | WKN 514000

Business: A German investment bank. They have five products and services pillars: Private & Business Clients (classical banking services: accounts, deposits, loans, pensions products), Asset & Wealth Management (helps institutions and wealthy individuals to increase their wealth across all asset classes), Corporate Banking & Security (sales, trading etc of financial products such as equity, bonds etc. as well as dealing with mergers and acquisitions), Global Transaction Banking (world wide banking services and products for corporate and institutions) and finally None-Core Operations Unit (dirty laundry).

Active: in 70 countries world wide.

P/E: -5.2 (P/E5: also negative!)

Here you can find the previous analysis of DB 2016.

The P/E is awful with -5.2 due to losses but the P/B is still very good with 0.6. No matter what, due to the losses, this is not a company for Graham. The earnings to sales are bad as is the ROE. The book to debt is scary low with 0.04 and Europe should never have allowed the European banks to leverage that much as they did and still do in some cases such as DB.

In the last five years they have had a negative yearly revenue growth rate of -4.5% which is awful and it gives us a motivated P/E of around 8. Due to the losses it is hard to tell where DB actually is but I would still say that they are overvalued by the market today.

On one hand they ask for more money from their shareholders and on the other hand they then pay out a dividend in the size of 1.1% which is, due to negative earnings, yet another burden on the balance sheer. Pathetic! There are moments when I think that it should be forbidden to pay out dividends if the company makes a loss. You as a shareholder will then have to be fully aware of this and invest accordingly.

Conclusion: Graham is not positive towards DB and neither am I. I strongly despise companies that ask for more money from their shareholder and then pay out dividends. Shameful behaviour! Yes, I understand that they did that to attract institutional investors but I do not care. Make it illegal. I will remain as a grumpy shareholder.

DB annual report 2016

The report in full you can find here and for my previous summary of the DB annual report 2015 then please click on that link and to find out more about DB then visit DB analysis 2016.

Last year they had a Cost/Income ratio of 115%. This year their C/I was 98%. In my world costs are what you have to pay and income is everything that you get coming in. By the look of it DB is calculating this slightly different since they managed to go -1.4 billion € for the full year which to me is not a positive value which 98% would indicate. They had an income of almost 26 billion € which should then mean an income of around 500 million € but alas no. The income has been pretty flat for the last four years and the costs are mainly low due to them having to pay for their latest criminal activities which ever latest popped up. Still last year DB lost around 6.8 billion € so we might go in the good direction. 

Conclusion: It is every shareholders hope that now that DB brought in some more capital that they actually manage to get back on the horse and that there will be no more discoveries... to my knowledge, in the pipeline, we still have Iran and Russian money laundry and then we have the much exciting Italian situation. Will that be the end of it? I unfortunately do not think so still... I will remain as a shareholder and as you know I did buy more shares in April.

Stock bought April 2017: DB

This investment was forced upon me so I really did not have a choice on the matter. DB is now one of my longest running investments and still today there are things appearing concerning new illegal things that were done mainly while the two crooks were still sitting in power. As shareholders this have been a long, long period filled of disappointments which, should never be forgotten, to a large extent comes from the shareholders on the board and their decision to bring up the two crooks in the power position.

I bought an additional 140 shares at a value of 11.65 € per share on top of this I had to pay a brokers fee which means that I have now invested in total (including fees) 9,484 € into DB and I hold 420 shares.

I never expected this investment to stay with me for so long.

To find out more concerning Db then please visit DB analysis 2016.

Any changes will be brought into the stock portfolio upon the next update in the very end of the month.

DB report Q1 2016

The report from Deutsche Bank arrived some time ago and the market was happy to see it. Why one wonders? Well, they expected DB to make a big loss in Q1 and they ended up reporting some earnings. Correct or not? Who knows! With the twist of the magic wand banks can create value as they see fit.

DB analysis 2016

Company: Deutsche Bank 

ISIN DE0005140008 | WKN 514000

Business: A German investment bank. They have five products and services pillars: Private & Business Clients (classical banking services: accounts, deposits, loans, pensions products), Asset & Wealth Management (helps institutions and wealthy individuals to increase their wealth across all asset classes), Corporate Banking & Security (sales, trading etc of financial products such as equity, bonds etc. as well as dealing with mergers and acquisitions), Global Transaction Banking (world wide banking services and products for corporates and institutions) and finally None-Core Operations Unit (dirty laundry).

Active: in 70 countries world wide.

P/E: -3.5 (P/E5: also negative!)

DB annual report 2015

Deutsche bank arrived some time ago with their annual report and it was, as expected, not a report for the shareholders to be happy about. I no longer remember what happened upon the day of the release but not that long ago the share price was down around 14 € and now it is around 17 € so overall there seem to be an interest in buying DB.

Stock bought December 2015: Deutsche Bank

I read an article not that long ago concerning European banks. Unfortunately I did not save the link but what they mentioned were that European banks have for the last 30 years, on average, been trading at a P/B of 1.87. The Swedish banks that have done very well in the past and are currently doing ok are traded at around that level. So it makes sense to and I accepted the article as if it was correct what they stated. 

If I accept that that is correct then on the other hand how can I accept that Deutsche Bank is being traded at a P/B of 0.44 today? Especially considering that the two CEO crooks have been kicked out and a news captain is running the show with, by the look of it, an iron fist of justice.

I therefore decided to build up my DB holding and I bought 39 fresh shares at a total cost of 932.2 € which today gives me a total of 280 shares with a full investment of 7,843 € including fees or 28.01 € per share.

To find out more about DB then visit DB analysis 2015.

If you want to see my current Stock Portfolio then click on the link but the portfolio will not be fully updated until the end of the month.

DB report Q3 2015

When whatever hits the fan it spreads. It took DB six years and the kicking of three CEOs before things started to go in a direction that I find more acceptable. The new CEO is pulling all the joker cards he has available by taking massive impairment costs (in the size of 5.8 billion €) as well as deciding to cut dividends for probably the next two years. The market was not pleased and of course neither am I  but if this will lead to a turn around then in the end I will be pleased.

DB report Q2 2015

My last article concerning DB was called two crooks got sacked and this happened during the running Q2 so any expectations for direct significant improvements we should forget. My biggest hope is that the new CEO is honest because from honesty a new future can be built. My direct thought when I saw the report was that... oh, my gosh... this is the biggest bank in Germany and for the running half year they hardly even manage to earn as much as one of the Swedish banks in a quarter. Embarrassing! Share price was up on the day of the release so at least analysts were happy.

Two crooks got sacked

Yesterday the celebration on the stock market was massive due to the news that the two crooks in Deutsche Bank have finally been sacked! This is indeed great news even though it would have been better to also place them behind bars. If the news correspond to a direct increase in share price of over 6% that I hold for unreasonable but the fact remains they are gone and this is indeed a cause for celebration.

Mr. Jain that previously lead the entire investment banking that have now forced to pay out billions and billions in Euros due to the crimes they have committed and Mr. Fitschen that are currently personally accused of conducting perjure (lying to the court) in the case when Deutsche Bank plundered the Kirsch-family media empire (they had to pay back almost 1 billion to the family). These were the guys assigned to change the culture in Deutsche Bank...

The new man to lead the DB will be John Cryan. I know very little of him but he also comes from investment banking so he comes from a tradition that has nothing to do with classical banking, which is a business concept good enough to make good money in, and I guess that he will keep pushing investment banking... good, bad? I do not know but I simply have a negative feeling toward investment banking with how the salaries and bonus systems are running there. A new way would need to be found for me to start to appreciate it.

Now we come to a secondary matter. What happened to the people that placed Mr. Fitschen and Mr. Jain as CEOs for Deutsche Bank? Can we please have them also sacked right now, at once? Everyone must take their responsibility and that also goes for the board that assigns the CEOs so please guys... Leave!

Dividend from DB: May 2015

Well, well, well, Deutsche Bank paid the same dividend for the at least fifth year in a row. The shareholders meeting, which I missed out on, were yesterday and I followed it on twitter. It was indeed plenty of angry and upset people present there. Not due to the dividend payment but due to all the legal problem DB have had and that they still have not managed to clean the house... the problem is a snake and not a scorpion. Meaning you need to bite off the head and not the tail to start the purification.

Due to that I now own 241 shares in Deutsche Bank I received per share 0.75 € this gave me in total 180.75 €. From this I had to pay 47.67 € in taxes and left as cash on my broker account was 133.08 €. This gives ma a YoC of 2.6% after over three years as a shareholder and that, is to be frank, bad!

To find out more about DB please go to DB analysis 2015.

To see my yearly dividend earnings then please visit the Stock Dividends page that has now been updated.

DB report Q1 2015

The other day I listened to an interview with the previous Swedish minister of finance. He then mentioned that the Swedish, Irish and British banks all got slapped by their governments with new regulations to make them clean their acts back in 2009/10 while the German banks were handled with silk gloves by the German government. Most of the British, Irish and Swedish banks are today doing very well while the German banks are still rolling around in the dirt. The fantasy that that financial institutes should not be regulated and handled with care is simply bunk. What was then this time in the DB report?

DB analysis 2015

Company: Deutsche Bank

ISIN DE0005140008 | WKN 514000

Business: A German investment bank. They have five products and services pillars: Private & Business Clients (classical banking services: accounts, deposits, loans, pensions products), Asset & Wealth Management (helps institutions and wealthy individuals to increase their wealth across all asset classes), Corporate Banking & Security (sales, trading etc of financial products such as equity, bonds etc. as well as dealing with mergers and acquisitions), Global Transaction Banking (world wide banking services and products for corporates and institutions) and finally None-Core Operations Unit (the place to hide the dirty laundry, -2.9 billion euro in 2014). 

Active: in 70 countries world wide.

P/E: 27.4