| chinaman - Samstag, 8. Mai 2004 - 10:29 |
| Nachdem das Auslandsdepot ja (erfreulicherweise !) mit Vital Biotech einen asiatischen Titel an Bord genommen hat, wäre ich mib sehr dankbar, wenn er uns hier mal in die Aktie und seine Beweggründe für den Kauf einführen könnte. Danke ! :-) Gruß Chinaman |
| mib - Samstag, 8. Mai 2004 - 17:36 |
| das geht nicht so schnell... :-) die letzter Vorlesungswoche an der Uni hat angefangen und ich bin mit Klausuren und Abschlussarbeiten und deren Korrekturen beschaeftigt. Ich werde am Montag/Dienstag links zu Analysen raussuchen, die als pdf files runterladbar sind. sukzessive dann mehr.... Gruss - Mib |
| chinaman - Samstag, 8. Mai 2004 - 20:04 |
| Kein Problem, in der Ruhe liegt die Kraft ... ;-)) Gruß Chinaman |
| mib - Montag, 10. Mai 2004 - 12:12 |
| to get access to the last 3 reports that Core Pacific - Yamaichi did on Vital Biotech you have to go to: http://www.cpy.com.hk/ecpefinance/research/database.php then under "stock code" enter: 1164 then under "language" enter: english then "search" you'll get access to three reports that provide essential information on Vital! cheers - Mib |
| mib - Montag, 10. Mai 2004 - 12:14 |
| oh mann... ich werd alt... aber ohne Englisch kann man die reports sowieso nicht lesen... Mib |
| chinaman - Dienstag, 11. Mai 2004 - 17:48 |
| @ mib: Danke für den Link zu den 3 Reports. Die Englisch-Hürde kann ich dann schon noch überwinden ;-)) Hab die 3 Reports mal überflogen und kann mir Deine Beweggründe für den Aktienkauf nun "denken". Ich nehme mal an, dich fasziniert das es sich um einen profitablen Biotech Wert mit einem für das Wachstum relativ günstigen KGV handelt. Vielleicht schildert Du uns einfach noch einmal Deine persönliche Meinung und Kaufbeweggründe. In HKD ist der Kurs ja wieder etwas zurückgekommen (auf 0,65 HKD wenn ich das kapiere ...). "Theoretisch ist die Aktie ja unter der WKN 551395 auch in Deutschland handelbar; praktisch ist der Markt aber wie bei vielen Auslandswerten total illiquide. Hast Du in Hongkong oder in USA geordert ? :-) Gruß Chinaman |
| mib - Dienstag, 11. Mai 2004 - 19:57 |
| nur Hongkong ist liquide - ich hab privat 45% meiner Position zu 0.80 HK$ und 55% vorgestern zu 0.65 HK$ in Hongkong gekauft. In den Reports ist alles schoen zusammengefasst. Der Titel ist sehr guenstig bewertet - vor allem, wenn man bedenkt, dass die revenues aus der letzten Kooperation im report deutlich niedriger angenommen werden als von Vital selbst laut Pressemitteilung angegeben. Darueberhinaus gefaellt mir das business model: Vital ist der distributor in mainland China und kassiert ca. 20% Marge - die auslaendischen Unternehmen, die auf den chinesischen Markt wollen brauchen Hilfe - und die liefert Vital (ein bekanntes Beispiel ist hier Madaus, die mit Vital kooperieren). Als naechstes werden die Produkte, sofern sie sich am Markt bewaehren, in China selbst produziert - Vital liefert die Produktionsstaette. Das wird dann umgekehrt funktionieren, sobald generic biotech-drugs in der EU zugelassen werden (koennte in 2005 sein) - Vital hat da generic EPO. Zusaetzlich gibt es noch ein paar Eigenentwicklungen. Und bei all dieser Zukunftsmusik ist das Unternehmen schon jetzt nicht nur profitabel sondern "billig" (KGV'04est = ca 10) und bringt auch eine Dividendenrendite von z.Zt. 3.5%. da bin ich das Risiko mal eingegangen und hab meine 1. Aktie in Hongkong gekauft. Gruss - Mib |
| mib - Donnerstag, 13. Mai 2004 - 10:15 |
| hier die Meldung ueber den von mir erwaehnten 400 Mill. Renminbi deal: http://www.strategic.com.hk/media_release/media_clientid.asp?media_id=1836 VITAL BIOTECH SECURES OVER RMB 400 MILLION IN ORDERS FOR 2004 FROM MAJOR PRC DISTRIBUTORS TO DISTRIBUTE AGENCY & HOUSE PRODUCTS * * * * * LEVERAGES ITS WIDESPREAD NETWORK IN THE PRC TO EXPAND DISTRIBUTION BUSINESS (Hong Kong, February 20, 2004) - Vital BioTech Holdings Limited ("Vital BioTech" / the "Group")(stock code: 1164), the leading research-based biopharmaceutical enterprise with strong Australian origins, today announced that the Group has signed distribution agreements on existing and new range of products amounting to over RMB400 million with three major PRC distributors namely Beijing HengKangDa Medicine Co., Ltd. ("HengKangDa"), Sichuan Hengtai Pharmaceutical Co. Ltd ("Sichuan Hengtai") and Shenzhen Radiant Pharmacy Co., Ltd. ("Shenzhen Radiant"). This marks a major milestone in the expansion of Vital BioTech's pharmaceutical business in the PRC. According to the agreements, HengKangDa will distribute Vital's house products - Fenofibrate and Aceclofenac; Sichuan Hengtai will distribute Vital's house product - Osteoform. Shenzhen Radiant will distribute Vital's house product - Depile capsule. Depending on the final approval, Shenzhen Radiant will also distribute the specific allergy vaccination products from Denmark based ALK-Abello A/S ("ALK"). Building on the success of the current existing flagship products, the widespread distribution networks will ensure a successful launch of these new lines of agency and house products. In November 2003, Vital BioTech entered into distribution agreements with ALK as its exclusive distribution agent for its specific allergy vaccination products in the PRC market. To facilitate product distribution, 12 allergy treatment centers will be set up in major hospitals that specialize in asthma treatment in the PRC initially. Some centers have already commenced operation in early 2004 as per schedule. Mr. Thomas KO, Chairman and Executive Director of Vital BioTech said, "HengKangDa, Sichuan Hengtai and Shenzhen Radiant are among some our major distributors. They formed a significant part of our extensive distribution network in the PRC. With their continuous support and confidence, Vital BioTech is well positioned to launch more new products in the market in a very efficient manner." Mr. Terry AU YEUNG, Vice Chairman and Executive Director of Vital BioTech said, "The sales orders brought about by the three distributors are an encouraging sign for our distribution business. It proves that our business diversification is moving along on the right track. The pharmaceutical industry is a rapidly growing industry in the PRC. Our huge market success with the American product, Osteoform, in the PRC has resulted in attention from international pharmaceutical companies who are yet to build a presence in the PRC. More than often, these companies lack the commercial and regulatory capability in this part of the world. With our well-established sales and distribution networks and GMP compliant production facilities, foreign pharmaceutical companies can ride on this platform to shorten their market development process and lower their production costs. Vice versa, this type of co-operation will have a synergy which may also facilitate our penetration into overseas markets such as Europe and Southeast Asia in the near future." Mr. AU YEUNG continued, "With the introduction of more advanced foreign products into the PRC, we are rapidly moving towards establishing a one-stop service for a comprehensive range of premier and quality products for our distributors in the PRC. This one-stop-shop concept will be an effective business model, bringing in steady revenues for Vital BioTech." Looking forward, Mr. KO said, "To further diversify our business horizons and broaden our revenue streams, we will continue to seek opportunities to form strategic alliances with leading pharmaceutical enterprises around the world. Committed to our two business development directions - the research and development of our house products and technologies, and the manufacturing and distribution of other imported agency brand products, we are highly optimistic in generating a healthy return for our shareholders." - end - About Vital BioTech Vital BioTech is a research-based biopharmaceutical company with Australian origins. The Group is a fully integrated international corporation principally engaged in the R&D, production and distribution of biopharmaceutical and conventional pharmaceutical products. Currently, the Group maintains a substantial market share in the PRC. It specializes in downstream biotechnology processing and drug delivery systems. This technology can be applied internationally to enhance product values. With a well-established and extensive distribution network, since November 2003, the Group has entered into co-operations with international pharmaceutical companies to distribute and manufacture their products in the PRC. It has R&D centers in Melbourne, Australia and Chengdu, the PRC, while production plants are situated in Chengdu and Wuhan, the PRC. Further information is available at http://www.vitalbiotech.com cheers - Mib |
| chinaman - Freitag, 14. Mai 2004 - 09:41 |
| So, bin auch dabei ! Allerdings bin ich heute über die Börse München eingestiegen. Mit dem Makler kommt man zwar nur ins Geschäft, wenn man ca. 8 % mehr bietet wie den Kurs in Hongkong, aber ich glaube nicht, dass man nach Spesen in Hongkong besser wegkommt (Es sei denn, mit sehr hohen Mengen ...) :-) Gruß Chinaman |
| stw - Freitag, 14. Mai 2004 - 11:01 |
| Sag mal chinaman, wieviele verschiedene Werte hast Du denn im Depot ? Wie blickst Du da noch durch ? ;-) stw |
| chinaman - Freitag, 14. Mai 2004 - 11:19 |
| Das wird zugegebenermassen etwas schwieriger ... Momentan sind es ca. 25, bedingt durch die zunehmende Internationalisierung ... In Frankfurt habe ich übrigens noch einmal nachgelegt. Für Interessenten: Zu 0,075 EUR stehen da momentan noch 24.000 Stk. im Brief. :-) Gruß Chinaman |
| mib - Montag, 17. Mai 2004 - 09:01 |
| (von "unterwegs..."): typischer Fall von "bad timing"... Vital wurde/wird heute in Hongkong voll erwischt: -13% auf 0.55 HK$... so'n Mist! hoher Oewlpreise und eine Abkuehlung der chinesischen Wirtschaft sind zwar nicht grade Duenger fuer den asiatischen Markt, aber was das mit einer profitablen Company im drug / healh care Sektor zu tun hat, ist mir schleierhaft... :-( Mib |
| chinaman - Montag, 17. Mai 2004 - 11:20 |
| Oh, da war mein Timing aber wieder mal vorzüglich ! ;-) Gruß Chinaman |
| prof - Montag, 17. Mai 2004 - 19:58 |
| Ich halte es für kompletten Wahnsinn, für eine Aktie 8% mehr zu bieten, als der Markt hergibt. Beim Verkauf dürfte sich die Sachlage ähnlich darstellen, macht dann also 16% Verlust, die erst mal aufgeholt werden müssen. Da verdient doch nur der Makler dran! Prof |
| chinaman - Dienstag, 18. Mai 2004 - 08:02 |
| Das ist natürlich eine ganz legitime Meinung. Mein Weltbild sieht doch etwas anders aus. Hätte ich über Hongkong geordert, hätte ich zum Marktkurs kaufen können. Allerdings bin ich beim Mitschreiben der Nebenkosten, die dann laut Comdirect auf mich zugerollt wären, gar nicht mehr mitgekommen. Die Kosten wären ohne immensen Aufwand kaum kalkulierbar gewesen und ich behaupte mal, ich hätte gar nichts gespart. Der Makler hat sicherlich daran verdient, aber er hat ja auch eine Dienstleistung erbracht. Von den dünnen Umsätzen allein kann der Makler die Kosten der Notierung in Deutschland nicht decken. Er ermöglicht mir aber, die Aktie normal in Deutschland kaufen zu können. Kaufe ich bspw. ausserbörsliche Werte bei der Valora, sind ebenfalls 10 % Spanne fällig. Vielleicht ist der Blickwinkel auch deswegen unterschiedlich, da ich in der Regel sehr lange halte. Bei Deinem aktiveren Trading stellt sich das wahrscheinlich anders da. :-) Gruß Chinaman |
| mib - Dienstag, 18. Mai 2004 - 08:51 |
| oh je... die Q1 Zahlen von Vital sind raus... GROSSE ENTTAEUSCHUNG! Umsatz ging runter - Kosten gingen rauf... sehr sehr aergerlich... Report zum report als pdf unter: http://www.cpy.com.hk/ecpefinance/research/ :-( Mib |
| mib - Dienstag, 18. Mai 2004 - 09:17 |
| Vital's full Q1 report: Vital BioTech Holdings Limited * (Incorporated in the Cayman Islands with limited liability) (Stock code: 1164) Announcements - Voluntary results announcement for the three months ended 31 March 2004, change of head office and principal place of business, AND EXCEPTIONAL SHARE PRICE AND TRADING VOLUME MOVEMENT The unaudited interim results for the 3 months ended 31 March 2004 ("Unaudited Results") of Vital BioTech Holdings Limited (the "Company") was approved by the board of directors of the Company (the "Board") on 17 May 2004. The Company voluntarily announces its Unaudited Results pursuant to the requirements set out in chapter 13 of the Listing Rules. The Board also announces that the head office and principal place of business of the Company will be changed to, 31/F., Sunshine Plaza, 353 Lockhart Road, Wanchai, Hong Kong, with effect from 1 June 2004. The Board has noted the decrease in the price and increase in trading volume of the shares of the Company on 17 May 2004 and wishes to state that it is not aware of any reasons for such movements. The Board also confirms that, save for the Unaudited Results, there are no negotiations or agreements relating to intended acquisitions or realisations which are discloseable under rule 13.23, neither is the Board aware of any matter discloseable under the general obligation imposed by rule 13.09, which is or may be of a price-sensitive nature. (A) UNAUDITED INTERIM RESULTS FOR THE 3 MONTHS ENDED 31 MARCH 2004 ("Unaudited Results"): The Company voluntarily announces its Unaudited Results in accordance with the requirements set out in chapter 13 of the Listing Rules. Condensed Consolidation Profit and Loss Account: (Unaudited) 3 months ended 31 March 2004 2003 Note HK$'000 HK$'000 Turnover 2 75,664 65,003 Cost of sales (21,902 ) (19,518 ) Gross profit 53,762 45,485 Other revenues 1,533 74 Selling and distribution expenses (23,274 ) (8,306 ) Administrative expenses (18,155 ) (19,520 ) Operating profit 13,866 17,733 Finance costs (577 ) (1,455 ) Profit before taxation 13,289 16,278 Taxation 3 (1,013 ) (242 ) Profit after taxation 12,276 16,036 Minority interests 161 (4,714 ) Profit attributable to shareholders 12,437 11,322 Dividend 4 Nil Nil Earnings per share - basic 5 0.89 cent 0.92 cent Earnings per share - diluted 5 0.89 cent 0.92 cent Consolidated Balance Sheet: (Unaudited) (Audited) 31 March 31 December 2004 2003 HK$'000 HK$'000 Non-current assets Intangible assets 44,014 42,059 Fixed assets 188,330 159,907 Investment securities (guaranteed returns) 5,616 5,616 Investment in joint venture and associate company 6,867 - 244,827 207,582 Current assets Inventories 42,924 38,670 Trade receivables, other receivables, prepayments and deposits 114,737 80,646 Bills receivables 11,029 644 Other investment 94 151 Bank balances and cash - pledged 9,198 9,658 - non-pledged 122,843 62,105 300,825 191,874 Current liabilities Trade payables, accrued charges and other payable 65,750 40,580 Amounts due to minority shareholders of subsidiaries - 228 Value added tax payable 3,101 1,734 Tax payable 1,013 106 Current portion of long-term liabilities 3,120 21,988 Short-term bank loans 90,186 75,637 163,170 140,273 Net current assets 137,655 51,601 Total assets less current liabilities 382,482 259,183 Representing: Share capital 14,939 13,149 Reserves 332,599 200,715 Proposed dividend 22,382 22,382 Shareholders' fund 369,920 236,246 Minority interests 1,642 1,803 Non-current liabilities Long-term liabilities 10,920 21,134 382,482 259,183 As the Unaudited Results may not reflect the results for the 6 months ended 30 June 2004 and the year ended 31 December 2004, investors and shareholders are advised to exercise extreme caution when dealing in the shares of the Company. |
| mib - Dienstag, 18. Mai 2004 - 09:18 |
| part 2: Notes to the Condensed Accounts 1. Basis of preparation and principal accounting policies The unaudited consolidated accounts for the three months ended 31 March 2004 have been prepared in accordance with the Statement of Standard Accounting Practice issued by the Hong Kong Society of Accountants. The principal accounting policies and methods of computation used in the preparation of the consolidated accounts are consistent with those used in the annual accounts of the Group for the year ended 31 December 2003. The consolidated profit and loss account should be read in conjunction with the 2003 annual accounts. Certain comparative figures have been reclassified to conform to the current period's presentation. The audit committee of the Company, which consists of two independent non-executive directors, has reviewed the interim results announcement for the three months ended 31 March 2004. 2. Turnover The Group is principally engaged in biotechnology research, manufacturing and trading of pharmaceutical products. Turnover represents invoiced sales net of return goods, discounts allowed, sales taxes or value added taxes, where applicable. The Group's revenue, expense, asset, liability and capital expenditure are primarily attributable to the trading and manufacturing of pharmaceutical products. The Group's principal market is in Mainland China. Neither the business segment of the selling of technology and intellectual property right nor the geographical segment in other country is of a sufficient size to be reported separately. 3. Taxation Three months ended 31 March 2004 2003 HK$'000 HK$'000 Current taxation Hong Kong profits tax - - Mainland China taxation 1,013 134 Deferred taxation - 108 1,013 242 No Hong Kong profits tax has been provided for the period as there was no estimated assessable profit. In accordance with the approval documents of relevant local tax bureaus, two subsidiaries operating in mainland China are entitled to the exemption from enterprise income tax in the first two years from the first profit-making year and 50% reduction in the subsequent three years. One subsidiary was in the first year of 50% reduction while the other subsidiary was in the third year of 50% reduction for the Reporting Period. Other subsidiaries in mainland China were in loss-making position for the current and the previous periods and accordingly did not have any taxable income. The subsidiary operating in Macao is exempted from income tax in Macao. No Australian income tax has been provided as the subsidiaries operating in Australia had no estimated net assessable profit for the current and previous periods. 4. Dividend The Board did not recommend the payment of any dividend for the three months ended 31 March 2004 (31 March 2003: Nil). Final dividend for the year ended 31 December 2003 amounted to approximately HK$22,409,000 was partially settled on 6 May 2004 by cash of approximately HK$21,055,000 and by scrip share of HK$1,354,000. 5. Earnings per share The calculation of the basic earnings per share is based on the profit attributable to shareholders of approximately HK$12,437,000 (2003: HK$11,322,000) and weighted average of approximately 1,386,755,000 (2003: 1,227,347,000) shares in issue during the period. As at 31 March 2004, the Board had allotted share options to subscribe for 79,800,000 (2003: 49,800,000) ordinary shares of the Company of which 22,270,000 share options had been exercised. For the allotted share options, there are 28,160,000 share options exercisable as at 31 March 2004 (2003: 34,930,000). The calculation of diluted earnings per share is based on the profit attributable to shareholders of approximately HK$12,437,000 (2003: HK$11,322,000) and approximately 1,390,375,000 (2003: 1,233,947,000) shares which are the weighted average number of approximately 1,386,755,000 (2003: 1,227,347,000) shares in issue plus the weighted average of shares deemed to be issued at no consideration if all outstanding dilutive share options had been exercised during the period. Business Review Product sales In the reporting period and on a year on year basis, consolidated turnover increased by about 16% from HK$65 million to HK$75.6 million. Sales of the Group's major product, Osteoform, increased slightly by about 5% from HK$60.5 million to HK$63.5 million. Sales of Opin were HK$4 million in the last period. In order to comply with certain new rules governing drug registration, the Group had to temporarily suspend Opin production and to modify its production technique. As a result, there were no sales of Opin in the first quarter of 2004. New products: We have commenced production and marketing of Depile capsule, an oral herbal capsule to relieve symptoms of haemorrhoids. The first batch of sales has generated approximately HK$0.47 million. We have also begun productions of the Fenofibrate Chewable Tablet, a fibric acid derivative drug for regulating blood lipids, and have delivered the first batch of sales for market trial purpose. Agency products: The Group has started distributing two of Madaus AG's phytopharmaceutical products, Reparil N Gel and Agiolax Granule. Reparil N Gel is an anti-inflammatory and analgesic drug. Agiolax is used to relieve acute and chronic constipation. In this first quarter, sales of Reparil N Gel reached HK$6 million. The Group has also imported Agiolax raw materials amounting to Eur 1.8 million and our GMP compliant factory in Wuhan, China is preparing to package and distribute the product. "Osteoform": A Compound Calcium Amino Acid Chelate Capsule for Osteoporosis and Calcium Deficiency In the fourth quarter of 2003, the China SFDA's new labeling regulations required Osteoform to have a new OTC label. To avoid possible confusion caused by having two differently packaged versions on sale at once, the production and distribution of Osteoform have been slowed down to allow for stock with the old label to be cleared. A new labeling permit, which allowed for additional indications of the unique efficacy of Osteoform in the product insert, was finally granted in March 2004. We trust that this will fuel our future market strength. From March 2004, normal production and marketing activities have resumed. "Opin": An interferon suppository for the treatment of chronic viral cervicitis and vaginitis The Group's new GMP plant in Wuhan City passed GMP field inspection in November 2003 and was granted a GMP certificate in March 2004. To comply with new rules governing drug registration, Opin's production technique needs to be modified. Production of Opin will be suspended temporarily until the China SFDA issues a permit under the newly enacted drug supplemental application and approval procedures. The Group expects that normal production and sales activities will resume after the second quarter of 2004. Sales of technology The Group has entered into an agreement with Qingdao Growful Pharmaceutical Group to form a joint venture, namely, Qingdao Growful Vital Pharmaceutical Company Limited ("Growful Vital"). The Group has transferred the China patent rights of SDDS technology and the China Product rights of both Spray-On-Bandage and a new product "Anti-Fungal Dermal Spray" to the joint venture at an agreed price. In the first quarter of 2004, the attributable income was about HK$5.6 million. Business Outlook Last year, the Group sold only 2 house brand products, Osteoform and Opin. This year, we are launching new house brand products such as Depile and Fenofibrate and new agency products. The Group will gradually reduce its over-reliance on limited range of products. Up-coming new products: Aceclofenac Project: Aceclofenac is a product for relieve soft tissue pain and inflammation. It is classified as a state class 2 new drug. The authorized merchandise name of Aceclofenac was granted in April 2004. The new raw material workshop in Sichuan will defer its GMP inspection to the second quarter of 2004. The new product will be launched in the third quarter of 2004. Fenofibrate Project (fenofibrate chewable tablet): The first batch has been delivered for market trial purpose. Full production and marketing activities are expected in the second quarter. Improving logistics arrangement for Osteoform The raw material for Osteoform is imported from the USA. At present, the Group files all the custom clearance and drug registration procedures in connection with packaging and importing in the tax free zone of Shanghai, China. The raw materials and semi-finished Osteoform capsules have to be transported between Shanghai and Chengdu to fulfill all formalities. In accordance with the state policy of improving the economic environment in the Central and Western regions of China, the Customs and Excise Head Office has approved the establishment of the first export bonded warehouse for the inland regions, the "Chengdu City Export Bonded Warehouse Co Ltd". The Group has invested RMB0.8 million representing a 40% equity interest. The company is licensed to operate an export bonded warehouse and the related logistics services. Upon its expected commencement of operation in May 2004, raw materials for Osteoform will be imported directly from the US to Chengdu, and the semi-finished capsules are no longer required to be transited in Shanghai. The advantages are lesser transportation costs, shortened logistics cycle, lower stock turnover days and enhanced operation efficiency. (B) Change of head office and principal place of business The Board announced that the head office and principal place of business of the Company will be changed to, 31/F., Sunshine Plaza, 353 Lockhart Road, Wanchai, Hong Kong, with effect from 1 June 2004. (C) Exceptional share price and trading volume movements The Board has noted the decrease in the price and increase in trading volume of the shares of the Company on 17 May 2004 and wishes to state that it is not aware of any reasons for such movements. The Board also confirms that, save for the Unaudited Results, there are no negotiations or agreements relating to intended acquisitions or realisations which are discloseable under rule 13.23, neither is the Board aware of any matter discloseable under the general obligation imposed by rule 13.09, which is or may be of a price-sensitive nature. The directors of the Company as at the date of this announcement are Mr. Ko Sai Ying, Thomas, Mr. Au Yeung Ping Yuen, Terence, Mr. Tao Lung, Mr. Liao Yong Guang, Mr. Shen Song Qing, Mr. Huang Jian Ming, Mr. Jin Wei, Mr. Liu Jin, James, Mr. Lui Tin Nang and Mr. Lee Kwong Yiu. On behalf of the Board KO Sai Ying, Thomas Chairman Hong Kong, 17 May 2004 |
| chinaman - Dienstag, 18. Mai 2004 - 09:37 |
| Damit hat sich ja dann auch die Kursbewegung vom Vortag erklärt. Da hatten wohl einige Vorabinformationen ... :-) Gruß Chinaman |
| prof - Dienstag, 18. Mai 2004 - 12:29 |
| Die 10% Spanne bei Valora habe ich auch schon kritisiert. Deshalb will dort ja niemand handeln! Dann doch lieber börsennotierte Unternehmen, es gibt genug davon! Meinst du, es gibt keine attraktive in Deutschland liquide Aktie, bei der du den "Ausgabeaufschlag" von 16% bei VITAL sparst? Einerseits liebäugelst du mit Investitionen in Discount-Zertifikaten, um ein paar %-chen zu machen. Andererseits verschenkst du bei VITAL bereits mit dem Kauf wertvolle Prozente. Prof |