On the Star in ten years 100 euros become 476

4 'of reading

Going upstream sometimes pays. Who had invested 100 euro in Piazza Affari at the end of 2008, in the aftermath of the Lehman crack, today we would find in the pocket, redeeming the coupons, 169 euros for an annual yield of 5%. But from Indices and Data, publication of the Mediobanca study office, it is clear that focusing on Star of the list it would have really been bingo: the capital would have increased at an average annual rate of 15.6% and by the end of the period (September 2019) the 100 euros would have become 476.

The blue chips did not shine. The first thirty by capitalization have indeed made a more modest 4.6% per annum, with 155 euros at the end of the period. Of the sectors the most profitable is that of industrial securities, with a average return of 9.1% (255 euros final), which far outweigh the insurance companies (+ 3.6% per year, final € 146), while the banks in the decade showed a negative return (-4.5%, with a reduction of the invested capital close to 40% ).

The best

In the ten years and nine months considered, Amplifon won the palm of best performing title: those who believed in it have seen their capital increase by more than 29 times since 2008, with an average annual return of 36.9%. Also De Longhi didn't play it badly (capital multiplied by 18.4 times and 31.1% average return). Following, Banca Generali (16.8 times, 30% yield), Brembo (16.1 times, 29.5%) e Reply (15.4 times, 29%). In general, six out of ten titles produced a positive return, but not even four out of ten managed to beat the BTp. In the long run, however, the only way to defend against inflation is to reinvest the dividends. From 1928 until today the capital invested in the Italian stock market would have seen the purchasing power reduced by 85% with negative annual real returns of 2.1%. Conversely, by reinvesting the coupons, the average annual return, net of inflation, would have been 1.3%.

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