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Dear all,

It has been a while.

A lot has happened since the last letter. Big decisions, big changes.

I started this little newsletter in the worst year ever for the stock market since 2008: the S&P 500 and Stoxx 600 – the key US and European stock indexes – dipped 21% and 13% respectively this year.

A great year to be sceptical about investing and to the tell yourself “it’s too risky” or “I will wait until the economy recovers”.

Well, back then the stock market closed with +23% in 2009 and we have been pretty much in a bull market (optimism, growth and high valuations) ever since.

It is a “game” of patience, it is for the long run. Just like parenting!

And I started playing this game because I was about to become a father and I wanted my children to be financially safe and financially smart. I wanted to understand how money works and make sure they understand as well. And hopefully someday, they will understand it better than me!

It is a long, generational, long-term investment case. And one thing I realised is that I still do not have a solid strategy, with which I am 100% happy about.

So I will definitely work on that, besides all the other bazillion things I need to do 😅

What about you? What will you be working on in 2023?

Have a great year!

Take care,

your André

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