CALDEIRÃO DE BOLSA

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De acordo com o que consta na exposição remetida a esta Comissão (….), pelo que a atividade, ao que tudo indica, não se enquadrará no âmbito da receção e execução de ordens ou no âmbito da gestão de carteiras.

Relativamente à consultoria para investimento, nos termos do artigo 294.º, n.º 1 do CVM, esta define-se como: “a prestação de um aconselhamento personalizado a um cliente, na sua qualidade de investidor efetivo ou potencial, quer a pedido deste quer por iniciativa do intermediário financeiro ou consultor para investimento autónomo relativamente a transações respeitantes a valores mobiliários ou a outros instrumentos financeiros” (sublinhado nosso).

Em conformidade com o exposto anteriormente, em particular no que consta enfatizado, e tendo em consideração a exposição de V. Exa nos moldes em que se encontra descrita, a atividade de V. Exa, ao que tudo indica, não se enquadrará no âmbito da consultoria para investimento, na medida em que não será um “aconselhamento personalizado” dado que o artigo 294.º, n.º 3 do CVM estabelece que “uma recomendação não constitui um aconselhamento personalizado, caso seja emitida exclusivamente ao público” (sublinhado nosso).

Relativamente à divulgação de recomendações de investimento genéricas, nos termos do artigo 12.º-A do CVM e art. 35.º e ss., do Regulamento da CMVM n.º 12/2018, e tendo em consideração a informação remetida por V. Exa, o projeto não será abrangido pela esfera de supervisão da CMVM sobre analistas independentes, desde que V. Exa não seja nem se apresente publicamente como analista independente, empresa de investimento, instituição de crédito, entidade cuja atividade principal seja formular recomendações ou pessoa que exerça a sua atividade profissional naquelas empresas, instituições ou entidades.
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previsor Escreveu:Vou fechar metade das quantidades da ARAMI. Mais tarde, acho que vou comprar novamente. A minha intenção é mais fazer preço médio para reduzir o preço de compra sem aumentar muito a posição.

EU Medium-to-Long-Term Market Timing

Sinais de venda para a próxima abertura:
ARAMI: 267 unidades

Teste

Valuation | Target Price

VISN

17,33 US$ | ajustado: 14,73–15,60 US$

CLOV

3,15 US$

RPID

6,67 US$ | ajustado: 5,67–6,00 US$

——-

Value | Target Price

CLOV

3,87 US$ | ajustado: 4,26–4,45 US$

RPID

1,87 US$ | ajustado: 2,06–2,15 US$

VISN (Vistance Networks) Value: $3.14 (As Of May. 31, 2026)

Vistance Networks Inc VISN

Price
$12.48
Value
$3.14
Valuation
Significantly Overvalued

RPID (Rapid Micro Biosystems) Value: $1.86 (As Of May. 31, 2026)
Rapid Micro Biosystems Inc RPID

Price
$2.01
Value
$1.86
Valuation
Fairly Valued

Aramis Group (XPAR:ARAMI) Value: €5.25 (As Of May. 31, 2026)
Aramis Group SA XPAR:ARAMI

Price
€3.11
Value
€5.25
Valuation
Significantly Undervalued

Corticeira Amorim SGPS (XLIS:COR) Value: €7.86 (As Of May. 31, 2026)
Corticeira Amorim SGPS SA XLIS:COR

Price
€6.54
Value
€7.86
Valuation
Modestly Undervalued

InvestingPro analysis suggests the stock may be overvalued at current levels. Investors seeking deeper insights can access CLOV’s comprehensive Pro Research Report, one of 1,400+ available reports that transform complex data into actionable intelligence.

The intrinsic value for Clover Health Investments Corp (CLOV) under the Base Case is 4.55 USD. Compared with the current market price of 3.98 USD, the stock appears undervalued by 13% .

Averaging down is only effective if the stock eventually rebounds because it has the effect of magnifying gains. However, if the stock continues to decline, losses are also magnified. In instances where a stock continues to decline, an investor may regret their decision to average down rather than either exiting the position.

Therefore, it's important for investors to correctly assess the risk profile of the stock being averaged down. However, this is easier said than done, and it becomes an even more difficult task during stock market declines or bear markets. For example, during the financial crisis in 2008, household names such as Fannie Mae, Freddie Mac, AIG, and Lehman Brothers lost most of their market capitalization in a matter of months.

It would have been very difficult for even the most experienced investor to accurately assess the risk of these stocks prior to their decline.

https://www.investopedia.com/articles/s ... verage.asp

Delivery Hero shares surge to 18-month high as Uber eyes takeover

FRANKFURT/MILAN, May 25 (Reuters) - Uber is weighing a raised takeover bid ‌for rival Delivery Hero (DHER.DE), opens new tab after its initial €33-per-share offer on Saturday was rebuffed, an FT report said, sending the German group's stock up as much as 12.7% to ​their highest since late 2024.
https://www.reuters.com/business/delive ... 05-25/?utm

Why couldn’t I be Warren Buffett? Just believe in America and just went you’re down 50% who cares cuz America’s going to bring you through.

I used to just sit there and rail on Warren Buffett year after year after year. And I would congratulate myself for trashing him because [I thought] he just happened to be in the right place at the right time and caught this bull market. If that guy had been in Japan, forget it. Never would have happened.

What I realize now is what an idiot I was. That guy is a flipping genius cuz he understood the power of compound interest, which I somehow managed brilliantly to avoid my entire career.
Warren, if you happen to hear this, I’m deeply apologetic. You are the OG of compound interest, and I wish I was one-tenth as smart as you are.

I mean, we’ve been – up to 60 years I’ve been in the business. Probably five of them really juicy. And I think it was Tom Watson Sr. of IBM that said they asked him the reason why IBM had been so successful, or something like that, and he said, I’m smart of spots, and I stay around those spots, and that’s the whole thing. And IBM was in three different businesses, including time clocks and a couple – and two of the three turned out to be no good, but – so they just focused on the one.

Well, it feels like, you know, I’ve compared the markets to a church with a casino attached. And people can move between the church and casino. And I would say there are more people in the church and more people in the casino, but the casino has gotten very attractive to people. If you’re buying one day options, or selling them, I mean that is – that’s not investing, it’s not speculating, it’s gambling. Just totally. There’s nobody that can explain why they’re buying an option for one day, unless they maybe the fellow that made the 400 and some thousand dollars from knowing when we were going into Venezuela can do it. But I mean, that’s for – and the quantity of those things is just incredible. So we’ve never had people in a more gambling mood than now. But that doesn’t mean that investing is terrible. It does mean that prices for an awful lot of things will look very silly. I mean, they have a squeeze, and then Avis of all things. Well, Avis has been around for 50 years, but just this past week – and we have lots more regulation and everything now, but people spend their time figuring out how to get around the rules rather than follow the rules. That’s just a challenge.

And if it’s something people are talking about and thinking about, it’s not going to happen. But there are things that can happen out of the blue, and actually, that’s particularly true to use that phraseology now, because the things that can come out of the sky, we don’t know what can happen tomorrow. I don’t like to talk that way to people, whether it’s you or anybody else, I mean, because whether it does you a lot of good to worry about that. I don’t think it does do any good to worry about it. I think it’s good to be cognizant of it, but the worrying about it is terrible. And I don’t like to – I don’t like to even cause that belief with people, I don’t like to go and tell them the end is coming. The end is coming or something like that.

https://www.cnbc.com/2026/05/02/cnbc-tr ... oday-.html

Swimming Naked When the Tide Goes Out
By: Timestaff
Published: Apr 2, 2009 2 min read

A nugget of wisdom that Warren Buffett has passed along more than once to Berkshire Hathaway investors is this: "You only find out who is swimming naked when the tide goes out. " What the oracular Omahan seems to have meant by this is that you don't really know or appreciate the risks that companies are taking until they are tested by adverse conditions--a corollary to the saying that everyone looks like a genius in a bull market. Buffett used the line a year ago, for example, in reference to the follies of large financial institutions exposed by falling home prices.

While the tide-going-out phenomenon clearly applies to companies, it is relevant to personal finances as well. In a booming market and a booming economy, we don't have to worry so much about our debt, our obligations and our expenses and our safety net. We don't have to worry so much about where that last penny goes, because there are a lot more pennies and dollars on the way. But when times get tough, we discover out that we are the ones swimming naked:
https://money.com/swimming-naked-when-t ... s-out/?utm

previsor Escreveu:Não era a minha intenção inicial, mas já agora adiciono esta cunha à lista das cunhas.

Delivery Hero SE (DHER)

Tipo de Gráfico: Diário ajustado para dividendos
Classificação da Cunha: Cunha descendente
Preço do Objetivo: 29,75 €
Preço Atual: 23,73€
Retorno necessário p/ objetivo: ~25,4%