Long Run Stock Picking

Focus on stocks - finance, energy, aeronautics and defense, technology and emerging markets. Stock picking is based on sustainable development and growing demand for high demand products combined with the statistics approach. Key aspects are: Level of debt - level of debt under 50% + exceptions Uniqueness - unique feature or aspect which is complicated to copy or overtake Government connections - the government is shareholder or government is not an insignificant part of sales Industry - future trend + sustainability Past performance - performance in the last 3 years Product - cyclical non - cyclical shares Dividends Product market capacity - growing sales Breakthrough - the probability of breakthrough in a certain industry Two horizons are used for calculations - 3 months and 3 years. The current price is taken and compared to my 3M valuation and to my 3y valuation. Due to these calculations holding time is from weeks to months. 2-10% of the portfolio is held in cash waiting for opportunity depending on market conditions.