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Historical Investment Returns:
(Includes performance up to: 31 December 2012)
As you know the past few years were tough for value investors everywhere.
First the financial crisis in 2008 and then in 2011 the European country debt problems really cause havoc on the equity markets, especially in Europe.
But I am not complaining because in times like these, when investors are abandoning the stock market (perhaps forever) is when you make the most money, when share prices are the most removed from the true value of the underlying companies.
Overall performance over the past 9 years looks like this:
When reviewing my portfolio returns please remember that past performance is no indication of what will happen in the future.
The future is uncertain and just like you I do not know what my future returns will be.
Also please have a look at my disclaimer page. Even though I am very careful with the companies I recommend (and I invest in all of them with you) I cannot take responsibility for your investment returns.
I hope you notice that I give you the full picture, losers and winners.
Because I am human I make mistakes. And because you are intelligent you know that perfection in investing is impossible.
This is how all my recommendations performed
(all returns shown up to 31 December 2012):
Companies recommended in 2009
|
Company
|
Country
|
Added
|
Return
|
|
Nationwide Accident Repair Services
|
UK
|
Nov 09
|
-0,8%
|
Companies recommended in 2010
|
Company
|
Country
|
Added
|
Return
|
|
Charlemagne Capital
|
UK
|
June
|
-28,6%
|
|
Exact Holdings
|
Holland
|
July
|
7,3%
|
|
Allianz SE
|
Germany
|
August
|
31,9%
|
|
Linedata Services
|
France
|
September
|
38,1%
|
|
Microsoft
|
USA
|
October
|
12,5%
|
|
Average
|
|
|
12,2%
|
Companies recommended in 2011
|
Company
|
Country
|
Added
|
Return
|
|
Cegid Group
|
France
|
February
|
-20,0%
|
|
Halfords Group
|
UK
|
March
|
1,1%
|
|
Morgan Sindall
|
UK
|
April
|
-19,6%
|
|
Character Group
|
UK
|
May
|
-24,3%
|
|
Indesit Company
|
Italy
|
June
|
-15,2%
|
|
Washtec
|
Germany
|
July
|
-8,3%
|
|
Rexel
|
France
|
October
|
24,1%
|
|
Faiveley Transport
|
France
|
November
|
-2,7%
|
|
Takkt
|
Germany
|
December
|
26,5%
|
|
Average
|
|
|
-4,3%
|
Companies recommended in 2012
|
Company
|
Country
|
Added
|
Return
|
|
Television Francaise (TF1)
|
France
|
January
|
13,9%
|
|
Imperial Tobacco
|
UK
|
February
|
-3,5%
|
|
Travis Perkins
|
UK
|
March
|
-0,2%
|
|
Group Steria
|
France
|
April
|
-4,2%
|
|
Tamedia
|
Swiss
|
May
|
-0,6%
|
|
Havas
|
France
|
June
|
5,0%
|
|
Evry
|
Norway
|
July
|
-8,3%
|
|
Wincor Nixdorf
|
Germany
|
August
|
11,5%
|
|
Lottomatica
|
Italy
|
September
|
3,1%
|
|
Cap Gemini
|
France
|
October
|
4,6%
|
|
ENI
|
Italy
|
November
|
3,8%
|
|
Teleperformance
|
France
|
December
|
On hold – price too high to invest
|
|
Average
|
|
|
2,3%
|
Recommendations sold
|
Company
|
Country
|
Added
|
Return
|
|
New Frontier Media
|
USA
|
Feb 10
|
-24.2%
|
|
Headlam Group
|
UK
|
Mai 10
|
-23.5%
|
|
Contango Oil & Gas
|
USA
|
Sep 09
|
23.8%
|
|
London & Stamford
|
UK
|
Jul 09
|
13.7%
|
|
Deutsche Telekom
|
Germany
|
Jun 09
|
40.9%
|
|
William Hill
|
UK
|
Dec 10
|
45.1%
|
|
TomTom
|
Holland
|
Dec 10
|
-44.4%
|
|
CCA Industries
|
USA
|
Nov 09
|
31.0%
|
|
Vodafone Group
|
UK
|
Feb 10
|
30.1%
|
|
Cherokee
|
USA
|
Mar 10
|
-21.0%
|
|
Omega Pharma
|
Belgium
|
Nov 10
|
13.7%
|
|
Hornby
|
UK
|
Apr 10
|
-0,3%
|
|
Vivendi
|
France
|
Sep 09
|
-18,9%
|
|
Buongiorno
|
Italy
|
Jan 11
|
27,9%
|
|
Sage Group
|
UK
|
Sep 11
|
12,4%
|
|
Debenhams
|
UK
|
Aug 11
|
105,8%
|
|
Average
|
|
|
7,8%
|
All the above investments were recommended in my Eurosharelab Alert Newsletter Service
Performance before 2009
As I only started the investment newsletter in June 2009 the tables below show the performance of my portfolio since 2004.
Performance (in Euro) is shown against the world's major indices.
|
|
My
|
Europe
|
USA
|
UK
|
World
|
|
|
|
Portfolio
|
STOXX 50
|
STOXX 600
|
S&P 500
|
FTSE All Shares
|
MSCI World (Euro)
|
|
2004
|
21.5%
|
3.8%
|
9.0%
|
8.4%
|
9.2%
|
5.0%
|
|
2005
|
22.6%
|
20.1%
|
22.8%
|
3.8%
|
17.3%
|
23.6%
|
|
2006
|
1.9%
|
10.0%
|
17.4%
|
11.8%
|
11.9%
|
5.4%
|
|
2007
|
-8.0%
|
-0.4%
|
-0.2%
|
3.5%
|
2.0%
|
-3.4%
|
|
2008
|
-12.8%
|
-43.4%
|
-45.6%
|
-38.5%
|
-32.8%
|
-39.1%
|
|
2009
|
6.5%
|
24.1%
|
28.0%
|
23.5%
|
25.0%
|
23.0%
|
|
2010 - Newsletter
|
17.2%
|
0.0%
|
8.6%
|
12.8%
|
10.9%
|
17.2%
|
|
2011 - Newsletter
|
-12.4%
|
-8.4%
|
-11.3%
|
0.0%
|
-6.7%
|
-6.5%
|
|
2012 - Newsletter
|
12,7%
|
8,8%
|
14,4%
|
13,4%
|
8,6%
|
10,3%
|
|
Average
|
5,5%
|
1,6%
|
4,8%
|
4,3%
|
5,0%
|
3,9%
|
My returns are shown in Euro
The following table shows my investment returns against the major indices assuming 100 was invested in each portfolio on 1 January 2004.
|
|
My portfolio
|
STOXX 50
|
STOXX 600
|
S&P 500
|
FTSE All Shares
|
MSCI World (Euro)
|
|
2004
|
121
|
104
|
109
|
108
|
109
|
105
|
|
2005
|
149
|
125
|
134
|
113
|
128
|
130
|
|
2006
|
152
|
137
|
157
|
126
|
143
|
137
|
|
2007
|
140
|
137
|
157
|
130
|
146
|
132
|
|
2008
|
122
|
77
|
85
|
80
|
98
|
80
|
|
2009
|
130
|
96
|
109
|
99
|
123
|
99
|
|
2010 - Newsletter
|
152
|
96
|
119
|
112
|
136
|
116
|
|
2011 - Newsletter
|
133
|
88
|
105
|
112
|
127
|
108
|
|
2012 - Newsletter
|
150
|
96
|
120
|
126
|
138
|
120
|
|
Newsletter outperformance
|
|
54,5%
|
29,8%
|
23,6%
|
12,1%
|
30,5%
|
I think you’ll agree that in period of great uncertainty the return was highly satisfactory.
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