Hello fellow investors!
My coverage portfolio is being transferred to other analysts, as I am taking a two-year study leave from Inderes.
KH Group and Rapala will move to Thomas, while Terveystalo and Pihlajalinna will move to Roni. Coverage of Puuilo, Tokmanni, Kesko, and Verkkis will be taken over by Inderes’ newest analyst starting in a week, who already has prior experience in analyst work. He will be able to introduce himself more thoroughly when he starts. I am confident that I am leaving the coverage of these companies to very capable and hungry colleagues!
Why study leave? First of all, I want to state that Inderes has been a dream job for me from the start, as I’ve been able to pursue my passion for company analysis and test my mettle daily against the stock market regarding the accuracy of my analysis. Over the past six years, I have learned a lot from the best colleagues in the industry, in meetings with the management of listed companies, and especially from my own successes and mistakes. Sometimes it feels like I’ve even been analyzing some company in my sleep when the desire to be right has been so strong.
The year 2022, in particular, was taxing for me when, after Russia’s invasion of Ukraine, all forecasts and valuations had to be redone. At the same time, my child, who had started daycare, was in a recurring cycle of the flu every other week. We got through this with a disciplined daily routine. By focusing on the essential tasks—analysis and childcare—my own well-being, relationship, and seeing friends were kept to a minimum, and the decision to take a break from professional life began to take root.
Next week, I will begin studying my high school passion, mathematics, at the University of Helsinki. I haven’t set any major goals for myself for the next two years. The course topics seemed interesting (e.g., probability, game theory, and machine learning), which I have wanted to delve into more deeply. At the same time, study leave offers me the much-needed freedom to regulate my own energy and use of time, as unexpected press releases will no longer upend my daily plans. With my child still being small, I also suspect that I will look back on this break from work later as one of my best decisions.
Of course, the decision was not easy and required long consideration, as I have worked so closely with the companies over the years that it almost felt like I was taking a study leave from nine companies. Usually, we analysts don’t hear feedback from the company’s side, as independence is at the core of everything we do. But when I told the companies I was leaving, I received such good feedback from the management of the listed companies that I wrote it down, just in case I feel like I need a bit of a confidence boost while grinding through my studies.
I intend to continue managing my own portfolio’s investments, and if any of our investors are studying on campus, feel free to come and chat about investing or anything else. The plan is to return as an analyst in two years, but of course, plans can still evolve. If the return happens, I’ll likely start learning a new portfolio from the Swedish side, whose analysis field Inderes will hopefully have properly broken into by then.
Thanks to everyone!