On Thursday, we kicked off the first meeting of the academic year. The year starts promising, with a large portion of new interest in Pecunia Causa. The meeting kicked off with the meteoric outperformance of the Nasdaq, the Nasdaq Whale and why the Eurostoxx index has been underperforming its American peers this year.
Mark presented the recent performance of our portfolio. Our stocks were in correction territory, just like the market. However, there was some light, since Flowtraders paid a decent dividend.
Kasimir Harris and Rens Eggink presented the first pitch and pleaded to sell Hugo Boss. They argued that the luxury brand faces severe problems due to closed shopping malls, and most of their revenues coming from airports, which are having less traffic as well. The shareholders agreed with this stance, voting in favour of selling Hugo Boss.
After the presentation, there was a buy pitch for Rocket Companies, which is an American financial technology company. They argued that their ecosystem and inimitable algorithm targeting customers gives them a competitive advantage that allows them to gain market share, making them a possible Cash Cow in the long run.
The shareholders ultimately agreed with this stance, voting in favour of buying Rocket Companies after a lengthy debate with just one vote making the difference. This makes our fresh new member Kasimir the Investor of the Month. Congratulations to you! In the line of tradition, he took a picture with the treasurer.
If you are interested in joining Pecunia, send us a message on this page or text a board member. Prospective members that want to become shareholders and get voting rights for the next meeting, please email firstname.lastname@example.org. We hope to see you at the next meeting on November 10!