Well… I said I would round up my Nordea Bank position to even 3000 shares so I suppose I shouldn’t be surprised by this. Tariff insanities are kicking in and I’m probably way too early mover but I bought additional 300 shares in 10,99-11,00 EUR range. Now let’s just see how low we eventually go with this and with the whole market. Probably waiting couple months or election terms would have been better option but it is what it is. I’ll consider these as an early dividend reinvestment of incoming dividends from the likes of Sampo and Mandatum.
Month: April 2025
Recent Buy: Nordea Bank Abp
Early reinvestment of Fortum’s dividends (trades ex dividend today) with a purchase of additional 100 shares of Nordea Bank for 11,65 EUR per share. Nothing special here since I’ll likely round up my Nordea position into 3000 shares during the spring/summer. Seems reasonably priced, they are actively buying back shares and prone to benefit from the potential reneissance of Europe incl. potentially elevated interest rates.
Recent Buy: Lassila & Tikanoja Oyj
Dividend (or more like paid interest) reinvestment time with Lassila & Tikanoja Oyj. Stock has been going down after ex dividend date so I’ll continue bying in small blocks. This time small block equalled 20 shares bought for 8,35 EUR per share. Same thesis as before: potential bottoming, defensive sector and potential for turnaround in valuation AND operative execution.
Q1/2025 Results
First quarter has passed and what a shit show it was once again. Geopolitical mess is getting even more messy as war in Ukraine lingers on with US and EU being on opposite sides. On top of this US tariffs are supposedly kicking in tomorrow with a so called “liberation day”. Let’s see which one is liberated: people or their money from them. Considering all this it’s remarkable that my portfolio is still hovering so close to all time high valuation. This is probably a testament for having well diversified and somewhat defensive allocation which also translates into a portfolio which has missed biggest gains in tech. Only positive side in all this is the fact that Europe is more unified, and in many ways this is a make it or break it moment for Europe. In the end nations and (pseudo) federations can only be unified based on two factors: highly homogenous populations and/or external threats. Now Europe has two significant external threats in Russia and – to a large degree – USA. That should do it as truly homogenous population we don’t have. So far so good since investements are picking up and hopefully Europe will really be rearmed while Germany brings itself into this century. My plan is to slowly reduce US allocation by directing USD dividends into European stocks. I might sell some US positions if things start to look too bad and if I for once manage to panic in time but this is not the main plan going forward.
Q1 results as such were extremely good given the circumstances. Main portofolio value increased by 7,29% while first quarted dividend income was 4711,18 EUR (before taxes, converted to EUR at the time of writing). Even March brought a drop of just -1,57% in main portfolio value. This is way too good for said circumstances but I’ll take it for now.
See: https://edition.cnn.com/2025/03/31/business/liberation-day-announcement-trump/index.html