Kursgewinne in den"schlechten" Jahren 2001-2002

The Estee Lauder Companies is one of the world's leading manufacturers and marketers of quality skin care, makeup, fragrance and hair rolex replica. The Company's products are sold in more than 120 countries and territories under well-recognized brand names, including Estee Lauder, Clinique, Aramis, Prescriptives, Origins, MAC, La Mer, replica watches uk, Tommy Hilfiger, jane, Donna Karan, Aveda, Stila, Jo Malone, Bumble and bumble, Kate Spade and Darphin. FPA International Is On Track To Being A Great Fund FPA International (MUTF:FPIVX) is a replica watches that was formed only a little over three years ago. FPA's Crescent (MUTF:FPACX) and Capital Fund (MUTF:FPPTX) have long track records of outperformance. I believe that the fund will join some of the great funds in its category in a . The international fund was formed in December 2011, and has already outperformed the MSCI World ex. US benchmark. Here is a link to its Quarterly Fact Sheet. The fund is managed by Pierre O. Py. The fees are a little high at 1.26%. It's a very concentrated fund with 26 holdings. What's unusual is that it holds 26.3% cash. It looks as if Py is bearish on the financial markets, as are rolex replica (who managed the Crescent Fund) and Bob Rodriguez (who for many years managed the Capital Fund). The fund has averaged 10.06% since its founding, against 8.35% for the index. Let's take a look at a few of the fund's holdings.

In der Zeit vom 1.1.2001 bis 31.12.2002 konnten folgende Entwicklungen beobachtet werden:

Deutscher Aktienindex DAX
Standard & Poors-500-Index
Neuer-Markt-Index NEMAX
  - 55%
- 34%
- 87%
ARV-eigenes Depot   +36%!

Die Kurswerte der in unserem Depot gehaltenen Wertpapiere zeigen folgende Entwicklung:

  1. Ende 1999 132 % der Buchwerte,
  2. Ende 2000 251 % der Buchwerte,
  3. Ende 2001 285 % der Buchwerte,
  4. Ende 2002 350 % der Buchwerte,
  5. Ende 2006 382 % der Buchwerte,
  6. Ende 2009 354 % der Buchwerte,
  7. Ende 2010 373 % der Buchwerte,
  8. Ende 2011 210 % der Buchwerte.

Vorerst werden weitere Kurschancen wahrgenommen und nicht vorzeitig realisiert.