Lars Lyngaa

Focus on sector leading companies to ensure excellent returns Like Warren Buffett, who I consider to be the world's most successful investor, I have come to the realization that in the long run, it is the most competent companies that provide the greatest returns to shareholders. I therefore invest only in companies that I consider to be the best in their respective industries. The kind of companies that are known for their historical returns, high operating margins, increasing market share and a long series of record results. The main key figure for me is the historical earnings growth (EPS growth) and the ability to have a continuous growth over many years. I have been working in the financial industry for 10 years and with investments for 8 years - the last two of which have been in Luxembourg as an Investment Specialist. Here, I have been managing a portfolio of about 200 million EUR. My main focus is on Nordic shares where I have the greatest insight and most in-depth knowledge. The portfolio This portfolio will contain approximately 8-15 shares with focus on sector leading companies. The portfolio can also include investment firms, turnarounds and arbitrage investments. For a stock to be considered, it must be reasonably priced compared to the share historical pricing of P/E and P/BV and also have the potential to rise significantly in the coming years. I will periodically overweight sectors that I consider being undervalued, but it is a goal for me that the portfolio as a whole is invested in a broad range of sectors. The valuation should not significantly exceed the market average. Trade Pattern I rely my analyses almost entirely on the companies’ fundamental indicators. When I decide to buy a stock, I expect to keep it for several years. I will try to keep all shares for at least one year. I may be tempted to sell or reduce shares if they rise more than expected in the short term or if larger changes are happening in the company. On average, I carry out 1-3 trades per quarter. Results My long-term goal is to beat the world index by 4-8% per annum. Since I expect that the world index will increase by about 8% a year on average, my return target is 12-16% per annum. The portfolio is new and so I have no track record yet. The performance fee is 15%, which is a bit below the standard 20% for funds with performance fee according to my knowledge. Management fee is 0,95%, which is also below market average for funds invested in stock. This is generally between 1,8-2,5%. My education is Graduate Diploma in Business Administration in Finance from Copenhagen Business School. show more