What about the outlook for the rest of the year?
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Would you like to elaborate on the opening of the thread a bit more? What are your views on the outlook? Why only a perspective for the end of the year, shouldn’t we be looking into next year and beyond?
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Evli’s 2018 financial statements published. Outlook “challenging” for 2019.
https://www.inderes.fi/fi/tiedotteet/evli-pankki-oyjn-tilinpaatostiedote-11-31122018
Sauli: slightly better than expected.
Surprisingly good-looking financial statement at a quick glance. The market is indeed challenging, but I’m happy to stay with this stock and add more whenever the price is low enough. 
I added Evli to my portfolio for the long term at around 7.90 euros, even though Inderes recommends reducing. And I don’t mean the end of the year, but over a period of years. I believe the market will clear up sooner or later, even though we are currently navigating in a fog. If it goes down further, I promise to buy more. While waiting for it to clear up, one could, for example, collect dividends, which, according to my understanding, should not be on the chopping block right away. I could also be wrong. At the current price, we are already almost at 8%. On the other hand, if the financial sector really starts to nod now, then soon you might be able to get quality companies at a much better price. Although I never base my decisions on trading speculations, that is also an option.
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Back over €10. 
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It was indeed as good a result as expected. The dividend also rises by some percentage from last year.
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The 2019 earnings reporting for my portfolio companies started with this, and I’m really happy with the numbers; Q4 was strong for Evli. For a moment, after Inderes’s recommendation change, I considered trimming my position since the rise has been really rapid. But the dividend is already approaching a 10% return on my invested capital, so I can confidently continue owning it. A good performance. The guidance is again typical Evli, on the level of “The sun shines in summer” 
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Bumping this thread up, hoping to spark some comments or interest in the company. Someone wise once talked about cigarette butt companies; Evli can’t really be categorized as such, but it does have some cigar butt characteristics. You should check out Sauli’s latest video on Evli; he pretty clearly states that a) Evli will be among the winners in its sector, and b) Evli will grow its earnings in the coming years (moving into the next size category). When the current P/E is cheap, what will it be when the company and its earnings grow? It’s quite interesting to know that last year, Evli was among the top 100 companies in Europe for new fund sales. I recommend looking into the company and drawing your own conclusions.
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If the global economy and stocks are doing well, Evli is also doing well. If they are struggling, like at the end of 2018, Evli’s results will also struggle, significantly. Before the 2018 declines, Inderes was very positive about Evli. It was only during the decline that I truly understood what it meant when Inderes said that Evli is highly dependent on the durability of the economic cycle. (So, that reminder was always there, I just didn’t know how to put it into perspective until I saw it myself.) So, Evli apparently has many positives, but the downside is that it really takes a hit during a downturn, meaning it’s very non-defensive. One interesting angle is, of course, the quite probable consolidation of the industry, so whether Evli will still be like this in five years, and that could also bring synergies as a positive.
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Haha 
I have to praise the term “cigar butt,” it fits Evli really well
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What’s weighing Evli down? In the past few days, it’s been performing significantly worse than many others. At least based on Inderes’ forecast figures, it would seem like a very interesting acquisition target at these prices. What am I not understanding?
So I at least got the dividend yesterday.
True. I didn’t remember that. But its impact can hardly be that great?
Evli is quite dependent on whether the market goes sharply down or up. It should react to such downturns, where the value/amount of assets under management decreases, and so do the management fees, while costs remain the same.
Investment service companies are sensitive to capital market developments, but Evli appears to be more sensitive to downturns than, for example, its peer eQ.
On the other hand, Evli’s risk level is lower than that of its peers because the share of fixed income funds is large at Evli. The importance of performance-based fees also seems to be lower at Evli compared to its peers. Those more familiar with Evli might be able to shed more light on the situation.
It is worth remembering that the majority of Evli’s bond fund assets (2019: EUR 7.0 billion) are in corporate bond funds, which correlate quite strongly with equity markets. For this reason, Evli is very sensitive to fluctuations in capital markets.
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Evli has found its current bottom around 7.5 euros. This is roughly the same level as the dip at the turn of 2018-2019. This used to be one of the largest positions in my portfolio, but I sold everything some time ago and have been following the situation. Evli’s trading volume seems to be quite small, and it reacts quite quickly with the stock market, so I haven’t dared to add yet, even though the stock feels reasonably priced right now. How about others, what do you think of the current situation and Evli?
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Is it time to start buying? Q1 has been priced in, and writedowns have been made. Q2 has seen quite a rocket rise in the markets, so if this correlates downwards with the stock markets, doesn’t it also mean the other way around in these rises? No one knows what the market situation will be like after the summer, but one would think that Q2 has seen an increase in value and many orders.
Edit: In addition, the management has been buying shares on May 20th and 26th, albeit in reasonable amounts, but they probably don’t want to throw their money away either.
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