Analysis of Aareal Bank

Company: Aareal Bank Group

Business: A German bank specialising in property. They have two larger segments: Structured Property Financing (offers financing concepts for hotels and retail etc.) and secondly Consulting/Services (services for housing, commercial property as well as waste disposal and energy markets in terms of electronic banking and mass payment transactions).

Active: They have three regions: Europe, North America and Asia in total they are present in 25 countries.

P/E: 19.9

Analysis of Kernel 2013

Company: Kernel Holding S.A.

Business: A Ukrainian agricultural, cattle (around 16,000 heads) and logistics company. Has the entire chain from farmland in 405,000 hectare (owned as well as leased), silos for storage, oilseed crushing plants (one sixth of all sunflower oil seed runs over them), logistics both inland as well as deep-sea harbour for further transport. They also have their own brands of for instance sunflower oil.

Active: Ukraine and Russia is where the farmland is. The company it is traded in the Warsaw stock exchange.

P/E: 8.9

Kernel annual report 2013

The annual report recently arrived from Kernel and here you can find that report and here is the contrarian analysis that was made based on the values from 2012. Kernel is using a broken year that ends in June and this means that the harvest from the previous year is not shown until the year after. This means that in the 2013 annual report we have the effect of poor harvesting in Ukraine from 2012.

Summary of October 2013

Life wise October was a hard month like I suspected it to be especially since I went a bit overboard with the money transfer to my stock account. This month I was more cautious and I only transferred a little bit more then what is needed for being able to make a ~1000 € monthly investment in stocks. I therefore transferred 350 €. This will on the other hand make November interesting because then I must try to bring in almost the entire amount of 1000 € so we shall see! I think it will be possible especially since I will hopefully step up to a more normal salary again and with the slight change in lifestyle that I have done over the last couple of months I do not see it as impossible to accomplish just hard.

German inside trading: October 2013

In the end of every month I try to make a summary of all the reported inside trading that has taken place here in Germany and I will link to their home page so that you yourself can find out more information concerning the companies that you find of interest.