• In 2003 soon after the bull market beginning a few stocks were selected, which did beat buy-and-hold through late 2004.
  • In December 2004 10 US & German stocks weighed 5-16% were picked for a 12-months period of buy-and-hold (Exelon, Oregon Steel, Burlington, Rhön-Klinikum, Stada, Schwarz Pharma, Owens-Illinois, Alcan, Beru, Hydril) which resulted in a high performance of +32.8% between 12/3/04 and 11/22/05, so the benchmar MSCI World Index was beaten by a nice +24.0%.
  • In the year thereafter an absolute return approach was pursued by offering both shares to buy and sell: in December 2005 19 issues to go long and 10 issues to go short were published that resulted in a satisfying performance (difference between longs and shorts) of +17.4%.