Total performance since Sept. 2012
Avg. performance per year
Annual alpha compared to MSCI World
“Spreading an umbrella” aptly describes the core idea of UMBRELLA:
Since 2012, the system has served as a protective yet flexible structure for active equity management. UMBRELLA was developed by us to efficiently manage capital through different market phases – regardless of whether markets are rising, falling, or moving sideways.
The model is based on two central pillars (“two columns”) that have evolved over time:
The goal of UMBRELLA is to actively seize opportunities and reduce risks early. The basis for decisions is a continuous research process: geopolitical developments, economic conditions, company data, and market psychology are systematically analyzed and evaluated.
A key success factor is the rapid adaptation of the portfolio. Changes – for example, due to political events, industry rotations, or new company information – are immediately taken into account. This keeps the portfolio dynamic and allows it to adapt quickly to new market conditions.
Updates play a central role in this: They reflect new insights from research and market observation and ensure that decisions are always made based on the latest information. Without ongoing research, the system would lose relevance – with it, UMBRELLA remains an active, learning, and adaptable investment model.
Valuation Analyses, Industry Analyses, Earnings Analyses, and Company Analyses
MUMAK is a platform for structured stock analyses and comprehensible investment decisions. The focus is not on short-term market opinions, but on the systematic evaluation of companies, markets, and strategic developments.
The content follows a clear approach: fundamental data, market environment, geopolitical influences, and technical chart signals are combined to transparently derive investment decisions.
All analyses, updates, and portfolio adjustments are part of a consistent system – with the goal of not just observing developments, but understanding them in a structured way.
Each analysis is based on several levels:
This combination allows for a differentiated view of opportunities and risks – and forms the basis for all portfolio decisions.
MUMAK is being built and further developed by Richard Dobetsberger and Lina Mosentseva.
Richard Dobetsberger developed the Umbrella strategy, a structured investment approach that combines geopolitical developments, fundamental data, market sentiment, and technical analysis. This combination of scientific methodology, geopolitical thinking, and capital market practice forms the basis of his investment approach.
Lina Mosentseva has been involved with stock markets, social trading, and financial analysis for over ten years. She combines classical company analysis with modern digital financial communication and ensures that complex market developments are presented in an understandable way.
Together, they combine analytical depth with structured presentation – with the aim of making investment decisions comprehensible.
