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Volkswagen:Position Changes: Difference between revisions
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If you want to help us take better Investment decisions consider to help us to answer open [[questions]]. | If you want to help us take better Investment decisions consider to help us to answer open [[questions]]. | ||
The relevant open questions are: [[Automotive Industry:Questions]] [[Volkswagen:Questions]] | The relevant open questions are: [[Automotive Industry:Questions]] and [[Volkswagen:Questions]] | ||
== 27 February 2023 == | == 27 February 2023 - consideration 25% sell == | ||
I | I am considering selling 25% of Volkswagen to take a more defensive positon. | ||
VW remains to be sizable position in the portfolio given it's cheap valuation and virtual equity stories. | VW remains to be sizable position in the portfolio given it's cheap valuation and virtual equity stories. | ||
I am certainly interested to increase the position again, once our visibility increases or we get an even more attractive entry. | I am certainly interested to increase the position again, once our visibility increases or we get an even more attractive entry. | ||
Reasons: | Reasons: | ||
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* There are many open unanswered [[questions]] like the profit margins of EVs see [[Automotive Industry:Questions]] or the situation at Volkswagen Financial Services see [[Volkswagen:Questions]] that need to be answered. | * There are many open unanswered [[questions]] like the profit margins of EVs see [[Automotive Industry:Questions]] or the situation at Volkswagen Financial Services see [[Volkswagen:Questions]] that need to be answered. | ||
* Volkswagen is in a transition towards renewable energy which costs a lot of money. I am unsure when Free Cash Flows will improve again. | * Volkswagen is in a transition towards renewable energy which costs a lot of money. I am unsure when Free Cash Flows will improve again. | ||
* Revenue and operating margins in 2022 have missed targets. | * Revenue and operating margins in 2022 have missed targets. The likely cause was a (temporarily) weaker China. <ref>https://discord.com/channels/978370501237932092/1012303584446136380/1072614601285435412</ref> | ||
* There has been a special dividend of 19,06 EUR per share. Taking it into account the stock is up approx. 15% from our average buy level. | * There has been a special dividend of 19,06 EUR per share. Taking it into account the stock is up approx. 15% from our average buy level. | ||
* Tesla is posing a thread to the automotive industry overall given it's strong value proposition at low car prices. <br /> | |||
Note: I already sold and repurchased 25% of the Volkswagen position on February 7. <ref>https://discord.com/channels/978370501237932092/1012303584446136380/1072635724865753189</ref> | |||
<u>Additional Arguments:</u> | |||
== References == | == References == | ||