<p><strong>Dear Readers,</strong></p><p>It’s been over a year since I started this newsletter on Substack, and I couldn’t be happier with how it has evolved. While there are newsletters that grow faster and attract more attention, I’m genuinely proud of what we’ve built together. Kroker Equity Research has now reached nearly 1,000 subscribers—all achieved without resorting to constant hype, over-the-top promises, or sensational stock recommendations.</p><p>As you’ve likely noticed, this newsletter is rooted in fundamental stock analysis from markets around the globe. I avoid getting swept up in fads or making exaggerated claims. While this approach may not cater to everyone, especially those looking for quick investment tips or the next big thing, it resonates with a growing audience of readers who value facts and thoughtful decision-making. The steady growth of our subscriber base tells me there are many of you who share this mindset, and for that, I’m deeply grateful.</p><p>As 2024 comes to a close, it’s worth reflecting on what an extraordinary year it has been for the markets. The S&P 500 is up 27%, the MSCI World Index has risen 30%, and even Germany’s DAX has gained approximately 19%. Of course, there are always individuals or funds claiming even higher returns—but here’s an important perspective: simply investing in an index ETF this year would have yielded fantastic results!</p><p>I’m mentioning this because I think it’s crucial to set realistic expectations. Stock picking, while exciting and rewarding, doesn’t guarantee market-beating returns every year. And it’s not something everyone needs to pursue to achieve their financial goals.</p><p>So, why am I writing this? Isn’t it counter to my own focus on stock selection? Perhaps. But my goal is to emphasize that you don’t <em>have</em> to dive deep into stock picking to build wealth. I do it because I love it—it’s a passion and a hobby for me. But great returns can also come from simple, consistent investments in index funds. If your goal is to grow your wealth steadily, this is a proven and effective strategy.</p><p>Thank you for being part of this journey. Whether you’re here for the deep dives into undervalued stocks or just to gain new perspectives on investing, I appreciate your time and trust. Here’s to another successful year of thoughtful investing and learning together!</p><p>Warm regards</p><p>Bernhard<br /><em>Founder of Kroker Equity Research</em></p><div class="subscription-widget-wrap-editor"><div class="subscription-widget show-subscribe"><div class="preamble"><p class="cta-caption">Kroker Equity Research is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.</p></div><form class="subscription-widget-subscribe"><input class="email-input" name="email" tabindex="-1" type="email" /><input class="button primary" type="submit" value="Subscribe" /><div class="fake-input-wrapper"><div class="fake-input"></div><div class="fake-button"></div></div></form></div></div><p></p><p></p><p></p>