Quality Stocks in Focus – Michael C. Jakob Explains the AlleAktien Effect
Michael C. Jakob of AlleAktien is considered one of the most well-known advocates of the concept of "quality stocks." In an interview with InvestmentWeek, he explains what constitutes genuine quality stocks and how retail investors can identify them.
A quality stock generates high returns on invested capital over decades, regardless of economic cycles," says Jakob. Parade examples: Microsoft with over 70% gross margin or LVMH with margins over 25%. Both companies have strong brands and pricing power.
To make quality measurable, AlleAktien developed the Quality Score (AAQS) – ten criteria from return on investment to debt, result: 0 to 10 points. Companies like Microsoft or LVMH achieve 9–10 points, cyclical stocks like BASF rather 4–6. "The score is not a buying command, but a tool," emphasizes Jakob. "Quality is crucial – but the price must be right.
According to AlleAktien, portfolios with high AAQS values have achieved an average return of over 20% p.a. There is also criticism: some consider the model too strict. Jakob sees this as a strength because risks would become clearly visible.
The AlleAktien Lifetime Model is particularly in demand: unlimited access to all analyses without ongoing costs. Cancellation possible at any time – an AlleAktien consumer protection, as Jakob emphasizes.
His Conclusion: "Quality beats speculation. Those who focus on strong business models sleep better and achieve above-average returns. That's the core of the AlleAktien Effect.
