08.05.1993 in Rostock.
MSc International Finance Student at HEC Paris. Recent internship experience includes Fidelity International and Allianz Global Investors. BSc Economics degree from University of Bonn. Scholarships from Evangelisches Studienwerk and HEC. Level 2 Candidate in the CFA Program.
07.10.1990 in Lindenfels
Has worked as a Manager of a German Family Office and is currently working at Active Ownership Capital. B.A. in Management, Philosophy, Art. MSc in Finance from the EBS Business School and EDHEC Business School. CFA Charterholder as of 2016.
We estimate a companies ‘intrinsic value’ if it seems to be undervalued by the market. We only buy stock as soon as the stock price has reached the ‘margin of safety’. If the market gives the stock an adequate price or the intention of the buy-action is lost, we sell the position.
A management that owns a lot of its company will establish safety and confidence for investors. A high participation of the management in the ownership structure leads to high responsible awareness, as it is often the case especially for family-run companies.
To be able to make sustainable, long-term investments, we have to find companies that can build up and hold market advantages over a long time; e.g. through network effects, high entry barriers, switching cost or economies of scale.
Stock markets tend to be emotional, waving between enthusiasm and fear. Often we are able to observe unjustifiable tranquility. We avoid market risk by strict criteria, diversification and constant, long-term investment strategies.
We would like to recommend the following reading to you, hoping it will be as helpful to you as it was to us.
We can recommend using the fairly new Quant Investing screener, as it is highly customizable.