Portfolio 01/01/2025
New Project: Model Portfolio 2025
This is the first article of a new section we are starting in 2025. As the name suggests, it will be a model portfolio.
The purpose of this section is to provide more transparency and to make investment ideas easier to understand. This is because sometimes writing an idea does not mean buying at that moment. The goal is to upload between 10 and 12 ideas per year, so not all companies analyzed will be in the portfolio.
Why a model portfolio instead of my personal portfolio?
To eliminate the impact of liquidity inflows and outflows that I may make, which could temporarily change position weights.
To prevent special situations, such as an odd lot tender offer, from distorting the portfolio's annual return. In small portfolios, these movements can have a significant impact that does not reflect true performance.
The stocks in the portfolio will be the same as my personal portfolio, and the percentage invested in each will be similar, but without the distortions mentioned above.
Portfolio Rules
For greater transparency, these are the rules we will follow:
The initial capital will be €50,000.
Purchases and sales will be made at the closing market price to facilitate tracking and comparison.
Portfolio movements will be announced in the Substack chat.
For initial positions, we will assume that the portfolio is built as of 12/31/2024.
We will conduct a review every three months .
This is the portfolio as of 01/01/2025
Disclaimer: This article is not an investment recommendation. The opinions expressed are personal and each reader should be responsible for his or her own investment decisions.