Monthly Update - 01

As much as we’d like to think that our education content is valuable, we’re not naive and we do understand that most of you are here to see what we do with our own money and get inspired for your own investments. As promised, we will share these information with you, with no filters, so that you can use them as you deem appropriate. Nonetheless, we want to share once again with you that these are not meant to be investment advice and therefore you must not copy our trades and you should carry out deep and intense due diligence on the companies we’re going to mention.

As promised, we will soon share to our Supporters and Partners our Investable Universe, which we described here and ultimately is the list of securities we find attractive considering their latest numbers. However, we are passionate about finding new gems and constantly scan the market. This is why the Investable Universe may change during the year and we may add new companies that were not previously mentioned. Similarly, in very rare circumstances, we may remove securities from the investable universe as well. We have started discussing equities, but as you will see we seldom purchase also corporate / government bonds and/or derivatives: the reasoning behind will be explained, but even more than with equities we strongly discourage anyone to trade derivatives without a solid financial background and deep understanding of what they are doing. 

Another important thing to note is that Antonio and Attilio’s trades won’t be exactly the same. Whilst we share the same investable universe, there may be several reasons why the actual composition of the portfolio may end up being different. For instance, Attilio has been investing for a while, whilst Antonio recently purchased his main house in Milan and therefore had to drain its liquidity. Therefore, almost starting now, Antonio may not purchase securities that Attilio bought long ago at more attractive prices. Unfortunately, we’re not Midas of investing, and therefore we may have purchased in the past securities we won’t re-buy today after extra research conducted on that instrument. 

Moreover, as promised, we will reveal all the trades we do with our own money, but with a caveat. We are strongly convinced that our principles hold both for people saving from their employment income than from people mostly relying on their financial capital (see here). However, we do not want to generate any bias in our readers thinking that the amount that we have in our portfolios is too low/high compared to their situations. And let’s face it, we don’t want to tell the internet exactly how much money we have in our bank accounts. For this reason every month we will be discussing everything in relative terms (percentages) so that one can fully understand our strategy, without necessarily knowing if we bought 100€ or €100,000 of that specific security.

Finally, we call our premium users Supporters and Partners for a good reason: we want to share our journey with you. Hence, we’d like to share with you our journey not just as investors, but as personal finance educators as well. We started our newsletter with a bunch of family & friends contacts (less than 50). In less than a month, we managed to grow it fivefolds and we don’t plan to stop anytime soon.

Wharton Online, from the famous Ivy League University sponsored our article “Understanding Asset Classes”, demonstrating their willingness to invest in the spreading of value investing principles through both their online certifications and (in small part) us: we can’t express how honored we felt. 

To thank all our early subscribers, we decided that the first Monthly Updates will be available to Supporters as well. We are mindful that not all the readers may be ready to invest to become Supporters or Partners, but as already mentioned:

• you may start your 30-days free-trial period;

• you may find up to 25 friends willing to subscribe to our free newsletter to be upgraded as Supporter (with 12 enrolments) or Partner (with 25 subscribers).

For the latter, please use your referral link below:

Please note that to avoid that one simply uses 25 fake emails, your friends will need to confirm their registration, by clicking on an email after subscribing. As these emails may end up in spam, please make sure to remind your friends:

• to check for the confirmation email in the spam / promotions folder;

• move the email in the main folder; and

• click on the confirmation link: if they don’t click they won’t count towards your milestone.

And now, without further ado…

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