Inderes Femme - Money Talk from Women

General
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Hi, and thank you for your message. As Kaisa and I mentioned in the video, we want to build a portfolio for the long-term investor that is easy to follow and relate to. It was clear to us from the outset that we wanted sufficient options, which is why we included not only stocks but also funds in our considerations.

I strongly dislike this way of thinking that including funds diminishes expertise. In the Femmesalkku, the Europe fund offers good diversification into interesting European companies. Furthermore, funds have their own advantages. As a specific detail, we also mentioned in the video that through this fund, one can gain access to a very small share of, for example, Hermès’ ownership, which would not necessarily have been possible by directly buying shares due to the high unit price. The Europe fund has a very small, 3% share in the portfolio, so I wouldn’t call the Femmesalkku a fund-heavy portfolio yet; instead, the focus is on stocks.

Even in my own portfolio, funds have their own important role, even though I identify more as a stock picker. In my opinion, it doesn’t diminish me as an investor or reduce my expertise in any way, but rather it is a sensible long-term strategy.

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It’s absolutely great that we got our own Femmesalkku for Inderes! :star_struck:
It’s really nice to be able to follow its development and the evolution of its holdings over time. Good and clear justifications have been presented for the current selections :slightly_smiling_face:

However, I myself would hope that even though it is a long-term and moderate portfolio, it would also include slightly bolder and riskier assets to set an example that such an approach can also be part of long-term investing. For this reason, I would suggest that a small slice of, for example, cryptocurrencies, such as a Bitcoin derivative, could be included in the portfolio. For example, Nordnet offers Virtune Bitcoin ETP (not an investment recommendation), which could serve as light diversification and increase the portfolio’s appeal :slightly_smiling_face:

From a technical analysis perspective:

On daily candles, BTC has risen above the fastest moving averages (EMA9, EMA15, and SMA20). The nearest resistance level is found at SMA50 around $90,000. If BTC breaks above it, I would see it turning into an uptrend in the short term.

kuva

On a weekly level, BTC bounced well from the vicinity of the slowest moving average and has remained above important support levels ($80,000 and $84,000 USD). The fastest moving averages (EMA9, EMA15) are in a gentle decline and currently overlapping around $90,000, with the candle still below them, which makes this level an important one to watch again. It’s a good sign that the weekly candles remained above the slowest moving average, but a breakthrough above all moving averages is still needed for an uptrend.

kuva

On a monthly level, BTC is clearly above all moving averages and in a strong uptrend. However, the fastest moving averages have moved far away from the slower ones, which could mean they will return closer to each other either through a price drop or sideways movement, allowing the slower moving averages to catch up with the faster ones over time.

In summary:
Bitcoin shows signs of recovery in a technical sense, especially in the short term, and remains in a strong monthly uptrend. A significant resistance level is found around $90,000, and its breach could open opportunities for a stronger uptrend. I would note that there is still uncertainty in technical analysis, even though the direction is good at the time of writing. BTC has not clearly confirmed an uptrend across all the aforementioned timeframes, and moving averages may balance out in the near future either through a decline or consolidation.

Macro views are not my strength, but here are a few thoughts that support including BTC in the portfolio: The Fed’s interest rate peak being passed and potential future cuts increase risk appetite. At the same time, institutional interest is growing rapidly: capital is flowing in through ETF products, and even the US government already has its own reserve of over 200,000 BTC.

I would see it as justified to add a small slice of Bitcoin exposure to the Femmesalkku for diversification and as a bold example. Of course, with a moderate weighting, in a long-term strategy :slightly_smiling_face:

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Apparently, Kauppalehti’s Sunday column Jälkipörssi has noted Inderes’s Femme Portfolio, likely behind a paywall. A slight jab is naturally aimed at the listed company Inderes: Jälkipörssi: Inderesin Femmesalkku hämmentää – Missä on Äijäsalkku? | Kauppalehti

"Femme Portfolio. The analysis firm Inderes recently launched the Inderes Femme brand, aimed especially at women interested in investing. The idea is presumably to encourage more women to invest, which is a good goal. The concept includes a model portfolio, into which luxury company LVMH and a European index were first purchased.

Inderes already has a gender-neutral model portfolio, which has recently been the subject of good-natured humor due to its poor performance but has performed well in the long term. Women have been given only 20,000 euros, while the initial capital of the main model portfolio is 50,000 euros.

The investment criteria for the model portfolios sound similar, as both emphasize competitive advantages, quality, and value creation. It seems that, in addition to other criteria, the stock selections for the Femme Portfolio have emphasized that women are presumably interested in LVMH’s luxury bags, cosmetics, and champagne. The cautious 500-euro investment in the euro index is mostly puzzling, as model portfolios have traditionally been thought to offer ideas for stock picking. If gender stereotypes are an investment criterion, perhaps Inderes will next launch an Äijäsalkku, which could include, for example, Olvi, Nokian Panimo, and for fishermen, Rapala."

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Inderesin kahvihuone (Osa 10)
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As far as I’m concerned, the Inderes model portfolio can be rebranded and named the Guy’s Portfolio. Isn’t it already run solely by men? In another thread, you suggested, for example, Kamux for a stereotypically constructed Guy’s Portfolio. Kamux was in the model portfolio until the end of last year. Another option could be combining the Model Portfolio and the Femme Portfolio so that the Femme team would make half of the investment choices. Only then, in my opinion, would the model portfolio be truly gender-neutral.

I’m not particularly bothered by those different starting amounts. I currently invest regularly €250 in funds. I can’t do more. I make direct investments with holiday pay, tax refunds, etc. It’s certainly realistic that women have less money available for investing. So why shouldn’t that also be reflected in the starting points from which model portfolios are constructed? Nor do funds as part of the model portfolio bother me, but each of us would probably build a model portfolio of our own liking if we had enough initial capital to start with.

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Hi everyone – thank you for the active discussion around Femmesalkku! @Marianne_Palmu and I also want to share our thoughts as Femmesalkku’s portfolio managers :hugs:

For us, Femmesalkku is, above all, a way to make investing more accessible – through concreteness, transparency, and discussion. We don’t claim to reinvent the wheel; instead, we want to show, with concrete examples, what long-term stock investing can look like when starting from “scratch.”

We also state now that gender stereotypes are not part of our investment criteria. We hope these justifications are also evident in the portfolio report and the video we made. The cornerstone of our portfolio consists of high-quality companies with sustainable competitive advantages that create shareholder value. Alongside these, we bring diversification with funds.

LVMH was selected for precisely this reason – it is one of the world’s most profitable and stable luxury companies. The Europe index fund, in turn, brings diversification already in the initial phase, and we intend to continue utilizing dollar-cost averaging through it.

We understand that terms and perspectives can evoke emotions – and that’s perfectly fine. For us, Femme is a way to address those who may not yet have found inspiration or a community in stock investing. We want to support this development by offering relatable, fact-based, and encouraging content.

It’s great that Femmesalkku has sparked discussion! We appreciate all feedback and hope that the discussion can continue in a good spirit. This is not a competition between portfolios or genders, but an endeavor to make stock investing more open and inspiring for everyone :heart:

– Kaisa & Marianne

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At the end of April, I will have an expert specialized in taxation :money_with_wings: as a guest on Finanssiflikat. If you have any investment-related tax questions or themes in mind, I would gladly bring them up in the episode. Please post any questions :thinking: you have on the matter in this thread.

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  • What are the most common mistakes or misunderstandings that stock investors make regarding taxation?
  • Does the expert have tips for tax planning for a long-term stock investor (e.g., timing sales, smart utilization of losses)?
  • Are there any changes coming to investment taxation that would be good to be aware of?
  • How can or should the tax exemption for annual sales under 1000 euros (under certain conditions with a regular brokerage account) be utilized as part of a plan? What pitfalls are associated with this?
  • Are there tips on how investments should be transferred to the next generation tax-efficiently (e.g., gifts vs. inheritance, timing)?
  • What information should an investor keep themselves for taxation, even if the broker provides reports? (E.g., more complex acquisition cost calculations, currency conversions, expenses).
  • In what situations should an investor definitely turn to a tax expert instead of or to support their own planning?
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@Isa_Hudd, @Marianne_Palmu, @Pia_Maljanen, and @Sara_Antonacci had an interesting discussion in the latest Finanssiflikat episode. Each of them seems to follow the investment and finance world impressively extensively and diversely. :slight_smile:

Topics:

00:00 Introduction
00:33 Texts
11:49 Newsletters
13:18 Podcasts
20:21 Social media and video
28:12 Challenges brought by investment content
34:08 Summary

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@Marianne_Palmu hosted Nordea Senior Strategist Hertta Alava :), it was a really interesting podcast. :slight_smile:

Topics:

00:00 Introduction
00:39 Hertta Alava
03:12 Stock market situation
09:07 China’s imports to Europe
13:59 Earnings growth outlook
20:55 Overall picture
34:43 Arvopaperi’s portfolio competition
43:48 Emerging markets
53:53 Career
01:01:52 Greetings

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As a woman, I’m a bit wary of the idea that investing for women needs to be made a big deal. In my way of thinking, it falls into the same category as a man’s euro being a woman’s 80 cents. Instead of directing investment information to women, I think it would have been more modern to emphasize that women give investment advice - to everyone. Or even target the advice to children and young people.

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@Isa_Hudd interviewed Helena Rostedt. :slight_smile:

Rostedt started investing from scratch, as a single mother of two children. As a financial influencer, she wants to encourage others, especially women, to get into investing. Straight talk about money, and the mindset of getting rich!

Topics:

00:00 Introduction
00:23 Helena Rostedt
01:17 Path to Wealth
04:40 Goal in Investing
05:30 Financial Coach
10:22 Why Don’t Women Dare to Do It?
13:13 Mindset
16:20 Role Models
18:28 Book
21:06 Tip

I recommend subscribing to the Inderes Femme YouTube channel. You can find many other nice interviews there, as well as other good content on investment and finance topics.

The channel is suitable for viewing and listening for everyone, not just women. Subscribe to the channel.

https://www.youtube.com/@InderesFemme

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Hi!

Thanks for your message. Of course, our intention is not to exclude anyone from these discussions, but to add a female perspective. The idea of Femme has already been explained in previous messages. Perhaps the forum thread title has been misleading, so I have now changed it to what I believe is a better form: namely, money talk from women for everyone, regardless of gender, age, etc. :slight_smile:

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@Pia_Maljanen interviewed Tanja Parkkinen. :slight_smile:

Topics:

00:00 Start
00:19 Tanja Parkkinen
01:32 Starting to invest
03:55 Portfolio builder
08:30 Money lessons from childhood
10:39 Learning to invest
13:19 Investment style
17:15 Lessons from investments
19:28 Biggest investment myth
22:29 What investing has enabled
30:36 Open money talk
34:57 Women investing
38:34 Greetings to Femmes

It’s worth subscribing to the Inderes Femme channel :slight_smile:

https://www.youtube.com/@InderesFemme

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A European brokerage firm is running a campaign related to activating women investors. It doesn’t always go quite right…
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@Pia_Maljanen interviewed Kati Hannikainen, Legal Director of the Taxpayers’ Association of Finland.

Kati Hannikainen, Legal Director of the Taxpayers’ Association of Finland, reveals the secrets of taxation from an investment perspective. A comprehensive information package on taxation and what an investor should consider, e.g., regarding tax and inheritance planning.

Topics:

00:00 Introduction 00:24 Kati Hannikainen 01:12 Basics of Taxation in Investing 05:51 Most Common Mistakes 08:56 Tax Planning 14:05 Taxation of Future Generations 19:15 Presumptive Acquisition Cost 22:39 Holding Company 30:25 Foreign Stocks 45:18 Changes on the Horizon 38:47 Help from a Tax Expert? 40:50 Greetings to Femmeläiset

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Greetings!

A new purchase has been made for the Femmesalkku (Women’s Portfolio), and this time from the Helsinki stock exchange. It is Huhtamäki. More detailed justifications in the report :slight_smile:

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Here’s a video where Kaisa and Marianne discussed a new acquisition for their portfolio. :slight_smile:

The Femme Portfolio received a new addition, the high-quality and international packaging manufacturer Huhtamäki. Kaisa and Marianne go through why Huhtamäki was chosen for the portfolio. In addition, previous investments of the portfolio are briefly reviewed.

Topics:

00:00 Introduction
01:29 Femme Portfolio
06:37 Huhtamäki

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This was pleasant to listen to! The talk flows smoothly and the stock is thoroughly reviewed.

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Hey there, are there any new Femme meet-ups coming up soon? I’m looking for a chance to talk about investing, as I missed the summer meet-up too :slight_smile:

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Hey there! :wave: We’re back from summer holidays and I wanted to shout out that we just released the latest episode of the Finanssiflikat podcast! :tada: This time the topic is investment books! We’ve received requests to share our book recommendations, and here’s a long and diverse list of different works from which you can pick those that interest you for your reading list! :heart:

Here are the books mentioned in the episode, compiled:
Lauri Nummenmaa: Talous & Tunteet
Maarit Lassander: Rahaviisaus
Paulina Bren: She-Wolves: The Untold History of Women on Wall Street
Ratia & Saukkomaa: Pelastaja
Marko Junkkari: Vallan linnakkeen viimeinen taisto
Björn Wahlroos: Markkinat ja demokratia
Pat Dorsey: The Little Book That Builds Wealth
Juha-Pekka Kallunki: Tilinpäätösanalyysi
Peter Lynch: Beating the Street
Anitra Komulainen: Rohkea kauppajätti: Keskon historia
Ben Cohen & Jerrt Greenfield: Ben & Jerry’s double-dip – How to run a values-led business and make money too
Charles Fishman: The Walmart Effect – How an out-of-town superstore became a superpower
Louis V. Gerstner, Jr.: Who says elephants can’t dance – Inside IBM’s historic turnaround
Kurt Jacobsen: Novo Nordisk
Terho Puustinen: Mahdoton: Kempowerin lapsuusvuodet
Terry Smith: Investing for Growth
Björn Wahlroos: Barrikadeilta pankkimaailmaan
Björn Wahlroos: Sateentekijät
Jorma Ollila: Mahdoton menestys – Kasvun paikkana Nokia
John Simon: Koneen ruhtinas – Pekka Herlinin elämä
Heikki Herlin: Tuollapäin on highway
Jack Welch: Straight from the gut – What I’ve learned leading a great company and great people
William Green: Richer, Wiser & Happier
Kantola & Kuusela: Huipputuloiset
Kuisma, Siltala & Keskisarja: Paperin painajainen – Metsäliitto, metsät ja miljardit Suomen kohtaloissa
Kuisma & Keskisarja: Erehtymättömät – Tarina suuresta pankkisodasta ja liikepankeista Suomen kohtaloissa
Edwin Lefèvre: Reminiscences of a Stock Operator
Benjamin Graham: The Intelligent Investor
Heikki Keskiväli: Tähtäimessä osakkeet
Kim Lindström: Puoli vuosisataa pörssin sisäpiirissä
Kim Lindström: Onnistu osakemarkkinoilla
Esa Juntunen: Viisas sijoittaja
Esa Juntunen: Vaurastu viisaasti
Hämäläinen, Oksaharju, Walker: Sijoita kuin guru
Hämäläinen, Oksaharju, Walker: Arvoguru
Hämäläinen, Oksaharju, Walker: Laatuguru
Hämäläinen, Oksaharju, Walker: Pikkuguru
Rappaport & Mauboussin: Expectations Investing
Peter Lynch: One Up on Wallstreet
Peter Lynch: Learn to Earn
Tren Griffin: Charlie Munger: The Complete Investor
Robert G. Hagstrom: The Warren Buffett Way

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