Dear investors,
February was a good month for the AEX, with a gain of +2.53%.
For February, the figures for the RVM systems were: RVM Strategy +1.01%; RVM Retirement +1.01%.
This marks the eighth consecutive month that the systems have set new all-time highs.
THE MARKET IN FEBRUARY: STRONG RESULTS
Although we were positive about the AEX in February, there were regularly very sharp fluctuations on a daily basis and the price trend was turbulent.
Another factor that continued to play a role was the incredible undervaluation of Wolters Kluwer and, to a lesser extent, RelX. We continue to highlight these data companies because they have long been a rock for investors, with their fixed subscriptions and loyal clientele, and for investors their predictable profit growth.
It was also striking that Europe was stronger than the US. In our view, the USD has started a long-term downtrend against the euro, but in February the euro was slightly weaker, which is good for the economies of the eurozone countries.
MEANWHILE, THE ATTACK ON IRAN HAS BEGUN
It is already March as we write this overview, and the US has continued its aggressive policy, which is consistent with the regime's policy there, by bombing Iran. In principle, wars are not bad for the stock markets; this has been proven many times and is a cynical reality. Of course, it is important that world trade is not affected too much and that the global energy supply is not jeopardized. In this case, that is a problem, because Iran is a major oil and gas producer and the Strait of Hormuz is an important shipping route.
We do not know how this will all end. Our vision is based on statistics and stock market trading, and what we can calculate for the various indices. Looking at that, we expect weakness in the global markets on the one hand, but also recovery and new highs. In any case, we are maintaining higher price targets for the AEX index. If these are ultimately achieved in 2026 or 2027, it will also mean that a solution will be found to the conflict with Iran, because one cannot happen without the other. The stock markets can only be strong if global trade is flourishing.
That concludes this update.
Good luck with your investments!
Sincerely,
On behalf of Van Megen Systematic Trading,
Ruud van Megen
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