Coffee Can Investing

Kernaussagen

• Filtere nach Firmen mit 10 % Umsatzwachstum und 15 % Kapitalrendite – jedes Jahr, zehn Jahre lang
• Kaufe diesen Korb und halte ihn 10 Jahre, egal was in den Nachrichten steht
• Immobilien, Gold und teure Fonds zehren unbemerkt am Vermögen, wenn man alle Kosten zählt
• Nutze günstige Indexfonds für Large Caps und zahle nur für aktives Management, wo Analyse hilft
• Erst der Plan: Notgroschen, Versicherungen, datierte Ziele – dann das Portfolio

In diesem Bit

1. Klug kaufen, dann vergessen

   Imagine buying shares in a handful of excellent Indian companies, putting the certificates in a coffee tin, and not opening it for 10 years. That image, borrowed from an American fund manager who noticed that his most neglectful client did best, is the heart of this book.

2. Die zwei Filter

   The coffee can method starts with a screen, not a story. Look back 10 years and keep only companies whose revenue has grown by at least 10% in every single year, and whose return on capital employed has stayed at or above 15% every single year.

3. Ganz bewusst nichts tun

   Once the portfolio is built, the rule is to hold it for 10 years without selling, whatever the headlines say. This feels lazy, but it is the source of the returns.

4. Wo das Vermögen unbemerkt schrumpft

   A large part of the book is about the alternatives Indians default to. Real estate, once loan costs, maintenance, stamp duty and years of illiquidity are counted, has often delivered returns that trail equities while feeling safer only because prices are not quoted daily.

5. Erst der Plan, dann das Portfolio

   The book's case studies follow different families: a young couple starting out, a mid-career professional with loans and children, a retiree living on income. In each, the lesson is that a coffee can portfolio only helps when it sits inside a plan.

6. In die Praxis umsetzen

   This week, list every asset you own, including property, gold and deposits, and estimate what each has actually returned after costs and tax; the honesty is the point. Check the expense ratio of each mutual fund you hold and note how often it churns.