MyMoneyWorks.Stocks

- "Best of shares" selected by the MyMoneyWorks team - Focused portfolio: Investment in maximum 10 companies in total (incl. Holdings) - 10 year investment horizon - Objective is to double the initial investment in 8 years (total return incl. dividends) - Selection of companies very well positioned in long-term growth industries (5% p.a. and more over the next 10-20 years) and strong, proven profitability (10% EBIT margin and more); and with fairly-valued shares - Top management teams - Strong and detailed financial disclosure and clear strategy - Initially 2 single-industry companies only (United Internet; Amadeus IT), complemented with 3 holdings (Berkshire, Wendel, Investor AB) for diversification - Initial allocation according to the 6, 5, 4, 3, 2 rule - Buy-and-Hold strategy; few trades apart from reducing the portion of holdings and re-investing in single-industry shares, once companies that we like better than Berkshire, Wendel or Investor AB have been identified - Focus on Europe with around 50% but with international diversification: North America with around 30% + Developing countries (Asia, Africa) with around 20% - Currency risk: Min 50% in Euro, rest in USD and other currencies - Can go 'all in cash' if the MyMoneyWorks team believes that a market crash is imminent Comment about the initial share selection: - 6/20=30%: Berkshire Hathaway (USA): brilliant management; low-cost leverage via the insurance business float; promising recent investments (infrastructure and transportation etc); mix of listed equity and Private Equity - 5/20=25% in Wendel (France): Listed Private Equity positioned on strong growth industries (e.g. security) and markets (e.g. Africa) - 4/20=20% in Investor AB (Sweden): Balance between listed shares in Nordic countries and Private Equity - 3/20=15% in Amadeus IT (Airline, Airline, Tourism): resilient market and strong software assets and digital transformation strategy - 2/20=10% in United Internet (Web sites and application; connectivity): strong management, strong growth, business simple to understand