Mario Becker

DFO Reflections — Q4 2021

2021 was the year for which we expected victory over Covid, as it seemed that successful vaccination programs could defeat the pandemic. However, as the year progressed, it became clear that new virus variants and sluggish vaccination campaigns would prolong the crisis. This led to a 'stop and go' economy in most countries in the second half of the year, after the 'logjam' of 2020 and the most pressing supply issues seemed to have dissipated in Spring.

DFO Reflections — Q2 2021

The second quarter of 2021 continued much of the same trends as the first quarter: Equities of small and mid-sized companies, as well as more cyclical industries and slow-growth segments (keyword “value”), outperformed. Shares of developing countries saw a strongly differentiated development: Shares of commodity exporters such as Saudi Arabia and Russia saw strong price gains, whereas Chinese shares could not reverse the negative trend since February and selectively even traded in the red. Even the celebrations for the 100th anniversary of the founding of the Chinese Communist Party could not ignite any price fireworks here.

Greetings from a Millennium Trader to the Millennial Traders!

CEO Mario Becker shares the invaluable lessons he has learnt from his investment journey as a a professional investor through the millenium and advice he has for millenials looking to embark on their investment journey today."Dare to trust the market overall, as it will always reflect realized and projectable profits of successful companies, not hoped-for profitability of great sounding ideas!" - Mario Becker

DFO Reflections — Q1 2021

In many respects, the first quarter of 2021 followed the performance of the final quarter of 2020: shares of small and medium-sized companies as well as developing countries continued to outperform; shares of cyclical industries also rallied strongly, whereas so-called ‚stay-at-home stocks‘ or shares of companies with high-quality and less cyclical earnings underperformed. China and Hong Kong saw an exuberant bull market.

DFO Reflections — Q4 2020

The final quarter of 2020 followed the good performance of previous quarters. Particularly corporate bonds (which were badly hit in the spring and whose returns were far behind those of government bonds) saw a massive recovery. This recovery was so strong that our investment components, which mainly contain corporate bonds, ended the year with higher total returns than those consisting mainly of government bonds. While this is quite normal, the crash in the spring of 2020 once again showed that corporate bonds should not be seen as „crash insurance“ – a fact that should definitely be taken into account when constructing quality investment portfolios.