[Jerome]

Hi Lemij
Congratulations, that's a nice portfolio you've built up there.
Great values, with good sector diversification and a Swiss-American mix. These are also my favorite markets.

I see with amusement that you have ATLN. This brings back memories because I started investing in the stock market with this stock about fifteen years ago. At the time it was a highly speculative stock, it was not yet at the SMI. I was not yet following a dividend strategy at that time, I was only "dabbling" and I had suffered a big loss with ATLN and so I sold it. If I had done buy&hold I would have made a nice capital gain, since the stock has risen well during all this time 🙂

In short, ATLN now becomes a stock that pays increasing dividends and the circle is complete!

[Jerome]

Good morning
and thank you for your compliments.

Here are my answers:
1 – What is the difference between buying a security (from company x which is American) from Postfinance (Swiss trader) or from a foreign trader?
– Lower brokerage fees can be expected from some foreign traders, such as Interactive Brokers
– there will be no Swiss withholding tax on dividends. For example, with a US account, there will only be the US withholding tax of 15%. But since automatic exchanges of information are just around the corner, you have an interest in declaring your account. So this advantage is no longer really one.
2 – At the tax level (for a person domiciled in Switzerland) does that change anything?
See above.
3 – Is it possible to buy a stock of an American company x on the American or Swiss stock exchange, that is, a company that is listed on 2 stock exchanges?
Yes. Big caps are often listed on multiple markets. Personally I prefer to buy them on their home market, but ultimately it doesn't change much.

4 – If yes, what is the difference between buying this stock on the NY stock exchange or on the Swiss stock exchange? As mentioned above, it doesn't change much. It's more a question of habit. Since I trade almost exclusively US stocks, I place my orders most of the time on the NYSE. So I don't ask myself the question of whether the stocks are tradable or not on SWX.

[Jerome]

https://www.postfinance.ch/fr/priv/prod/eserv/etrade/detail/price.html

It's a bit of a shame that they are introducing a fixed deposit fee of 90.- per year, even if it can be converted into a bonus that can be used during transactions (I still don't really understand the mechanism).
However, it is true that it remains entirely reasonable overall.

I am not going to transfer my positions that I have with them. On the other hand, for some time now I have been working a little more with them Interactive Brokers which has prices that defy all competition.

[Jerome]

all REITs are struggling unfortunately at the moment, not just SNH
It is clear that the tightening of US monetary policy is not helping

[Jerome]

Hi Jean-Louis
Glad to see you're getting back into dividend-paying stocks. There are some "ballsy" picks in your portfolio, but interesting ones.
Regarding these securities that are being palmed off with the shares, I must say that I have a lot of trouble with this policy. These are often second-rate positions, which will represent small values in the portfolio and which are either not technically transigable or cost too much proportionally in sales costs. In short, it is a poisoned chalice.
Even if by some great stroke of luck they were to double in value, it would still be too expensive...
Anyway, now I've decided that I won't take care of them anymore and I'll leave them as an inheritance on my deathbed to my children 😉

I don't have any information on the new conditions of postfinance with swissquote... I think that the transaction fees will remain close, and I don't really care about that... on the other hand I just hope that the deposit fees will remain free because that's mainly why I chose Postfinance.

[Jerome]

Hi Florent
This is the eternal question between supporters of diversification and those of concentration.
In theory, the more you diversify, the less risk you have, but the more likely you are to match the market's performance. Some people therefore prefer to bet on only a few good horses, hoping to substantially beat the market.
I don't really agree with this approach. The most important thing is the performance/risk ratio.
There is no point in beating the market if you are going to take reckless risks.
In my portfolio I have 39 positions today. The largest represents less than 6% of the value of the whole. The securities are chosen in particular for their low volatility. My algorithm has a winners ratio of 75%. There are therefore a few losing positions, including one of nearly 50%, but in the end this only represents 1.3% of the value of the portfolio.
If I had focused on just a few stocks, even if the algorithm is efficient, I would have taken the risk of falling into a losing position that would have had much more impact on the entire portfolio.
And in the end, you can still beat the market, even with a well-stocked portfolio. You just need the strategy to be right.
8 positions / 6 sectors is already becoming interesting, it limits the risks a little, but you can also aim for more.
Regarding US securities, yes, it is also necessary to do so, in particular to reduce the exchange rate risk. See:

Foreign currency actions and currency risk (1/4)

[Jerome]

it's nonsense... happy to live in Switzerland
I think I pay too much tax because of the income from my gainful activity, but fortunately for the rest it is reasonable
Sorry but the new strategy will not solve your problem since, reading your last message, you are also heavily taxed on capital gains...

[Jerome]

Hi William
It's always a pleasure to read Belgian friends.
Well I see that we started investing at almost the same time and that we are about the same age.
I don't know the Belgian tax system regarding US dividends. In Switzerland it's 30%, half of which is recoverable via annual taxation.
If you actually lose all 42% that seems like a lot to me. To be checked.
I will soon be proposing a new investment strategy that will allow you to free yourself somewhat from this problem.
More info soon.
And know that it's never too late to start... you just have to be a little more patient.

Good scholarship.

[Jerome]

Hi Julien

Thank you for your comment and compliments.

It's a pleasure to read you because you have the right vision of things: you start early enough, you don't rush, you save enough (without depriving yourself of everything).

You remind me of myself quite a few years ago. Stay the course, you'll see it's worth it.

For your broker's fees: Swissquote is a good intermediary. In an investment approach such as the one focused on dividends, transaction fees are not the most important. Be especially wary of deposit fees... in the long run when your portfolio grows, it can hurt, especially since you can become captive to a bank/broker because of excessively high securities transfer fees. Postfinance is currently not bad (no deposit fees, many free services, reasonable transaction fees)... but they will soon partner with Swissquote, so I don't know if things will remain the same in the future...

For more information on brokers/banks, read this post

Otherwise, if you really want to keep your costs to a minimum, you still have Interactive Brokers
It is a reliable broker and really very cheap (1$ per order on US stocks up to 200 shares, 0.1% of the transaction value on Swiss and European stocks).

[Jerome]

I am in PAXN, WARN and INT (CS REF INTERSWISS)

[Jerome]

Positions followed

all positions together, with company name :)
You must be logged in as a member to access it.

[Jerome]

I removed the full name because on smartphones the tables became heavy
but hey, listen I'll see if I have time one of these days to make a table with all the values that I follow, of all the strategies, with the full name
I need to have some quiet time for that
but these days I'm very busy, between job, family and developing the latest strategy (I've been on it for several months)
by the way I was able to fix the last bugs
Now I still need to do some tests in production in the coming weeks
I think I can get all this out by February, March at worst, if there are no major hiccups.
The subscription principle will differ a little for this strategy, but all current members who ask me will be able to benefit from it for free until the expiry of their current subscription.
and in any case even for others, it will remain quite affordable in terms of price

[Jerome]

ok i found the bug
Email notifications should arrive shortly

[Jerome]

I can't answer the first question, sorry...
for the second, it's nice of you to warn me, I didn't know, sorry!
I have been looking for the cause for a while, indeed there is a bug but I can't find the solution
in case any specialists could help me that would be nice
here is the error message:
XML parsing error: :4:0: XML or text declaration not at start of entity
This (obligatory) change of site has definitely brought me some nasty surprises...

[Jerome]

Yes, I had thought about that indeed.
In fact I keep this separation because I find that the strategies, although familiar, are different in their approach. The Global Dividend Growers are the most versatile, for a portfolio fund. The other 3 are rather hedging strategies and might not be suitable for all investors, especially in terms of risks.

I explain in more detail here:

Dividend Growth Strategies

[Author]

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