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Look for strong balance sheets
Carnegie Sverigefond

Look for strong balance sheets

The blackest swan I have ever seen. It is hard to think of a clearer description of Covid-19 and its impact on the world, health and stock exchanges. We all...

Simon Blecher 3 April 2020
Blecher: “Experience suggests that the market turns before the economy”

Blecher: “Experience suggests that the market turns before the economy”

A global financial crisis that cannot be halted. The Covid-19 crisis is unique, and is fundamentally changing many parts of our society. But we are long-term owners of well-managed companies,...

Kristina Flintull 17 March 2020
Why is Securitas falling?
Carnegie Sverigefond

Why is Securitas falling?

While the Stockholm exchange, Sverigefond and most other assets fell quite sharply in February as the coronavirus spread across Europe, one of our shares, Securitas, took a particularly brutal beating....

Simon Blecher 3 March 2020
Exaggerated reactions in both directions
Carnegie Sverigefond

Exaggerated reactions in both directions

“As goes January, so goes the year,” is a popular expression from the other side of the Atlantic and, considering how the year began over there, it looks like being...

Simon Blecher 10 February 2020
A veritable cash cow
Carnegie Sverigefond

A veritable cash cow

December was another strong month for the Stockholm stock market. A gain of around 2 percent made this year the best in a decade. Hand on heart, there were few...

Simon Blecher 13 January 2020
Restructuring makes Electrolux and ABB attractive
Carnegie Sverigefond

Restructuring makes Electrolux and ABB attractive

The Stockholm stock exchange continued along in November, but there were large differences between small and large companies. Small caps rose by 4 percent, while larger companies – those in...

Simon Blecher 9 December 2019
Blecher: Swedish value stocks are attractive
Carnegie Sverigefond

Blecher: Swedish value stocks are attractive

Exchanges in Stockholm, the US and elsewhere show record highs while the pessimists screech Brexit, Trump and recession. The normally grisly October was a strong market month. Stockholm rose a...

Simon Blecher 7 November 2019
Upping stake in ever-misunderstood Skanska
Carnegie Sverigefond

Upping stake in ever-misunderstood Skanska

The economy is starting to flag. German numbers have been bad for months and continue to worsen, Swedish numbers are following, and towards the end of the month US statistics...

Simon Blecher 4 October 2019
Values – Carnegie Fonder’s Sustainability Report

Values – Carnegie Fonder’s Sustainability Report

Focus is increasingly on sustainability. The concerns are rarely new to Carnegie Fonder because it has always been important to us to invest in companies for the long term and...

Hans Hedström 1 October 2019
The market is overlooking the potential of Electrolux
Carnegie Sverigefond

The market is overlooking the potential of Electrolux

August was teeming with negative economic signals, especially from Germany and China. There were the usual harsh words between China and the US, Brexit worries and never-ending talk about yield...

Simon Blecher 6 September 2019
Dometic is impressive
Carnegie Sverigefond

Dometic is impressive

Many fund holdings reported half-year results right in the middle of summer over a couple of frenzied days. And given the circumstances, the numbers were pretty good. Several companies reported...

Simon Blecher 6 August 2019
Blecher: H&M was dinner-table conversation
Carnegie Sverigefond

Blecher: H&M was dinner-table conversation

Is this the most despised bull market ever? Possibly, yes. Everyone is looking for alternative investments, fixed income and credits, and yet the stock market refuses to fall. Once again,...

Simon Blecher 8 July 2019
An old friend returns
Carnegie Sverigefond

An old friend returns

Trump. China. Mexico. Brexit. German politics. Italy’s economy. Another threat to Mexico caused stock exchanges to shudder in May and, as so often in recent years, small companies barely lost...

Simon Blecher 10 June 2019
The upswing is painful
Carnegie Sverigefond

The upswing is painful

The Stockholm stock exchange continues to surge, as do people’s fears. It is obvious that this upswing is hurting and everyone is “waiting for a downturn”. But anyone who looks...

Simon Blecher 3 May 2019