Hanseatic Championship - Round 1, 9th

Quest for top equity investments

This post marks the end of Round 1:

1st: Solid Growth / Consumer (40) --> completed May 17
2nd: Solid Growth / Industrials & Materials (34) --> completed May 21
3rd: Solid Growth / Health Care (20) --> completed May 25
4th: Solid Growth / Technology (27) --> completed May 27
5th: Turnaround / Consumer & Technology (16) --> completed May 28
6th: Turnaround / Industrials & Materials (34) --> completed May 30
7th: Highflyer / Consumer, incl. fintechs (18) --> completed June 1
8th: Highflyer / Health Care (17) --> completed June 3
9th: Highflyer / Technology, incl. industrials (34)--> completed today

We will again use our growth/valuation matrix as a helpful tool to eliminate unattractive combinations. However, we will only be using sales growth versus EV-to-sales and not operating profit as many of these stocks are still loss making.

and a close up of the bottom left quadrant:

In addition, winners need to have a positive assessment of the following questions:

Is there fundamental momentum expressed in both sales growth and margin potential?
Are expectations of the growth path adequate given the risks?
Are there additional specific risks that are too difficult to assess?

For the following stocks, we can give positive responses to these questions, hence the winners of Round 1 “Highflyer / Technology” are:

18 Alfen ALFEN

19 Compleo Charging C0M

20 IBU-tec advanced materials IBU

21 SFC Energy F3C

22 SLM Solutions AM3D

23 Aixtron AIXA

24 AMS AMS

25 Bambuser BUSER

26 Fabasoft FAA

27 Fyber FBEN

28 Greater Than GREAT