The fear is going around

Fear, or at least concern, is sweeping the financial markets. Are the current rising prices having a negative impact on growth? Will interest rates rise and strangle the economic recovery? According to the textbooks of national economics, this would be the logical consequence. If it weren’t for the many pandemic-related special factors. Times are anything but normal at the moment, the…


Careful share purchase, negligent sale

The old stock market saying “cut your losses and let your profits run” is also understandable to the layman and needs to be proven neither empirically nor theoretically. Nevertheless, stock portfolio managers have difficulties in following this guiding principle and its implementation is inadequate. These conclusions of the book “selling fast and buying slow“, published in…


The game with the fire of debt

Debt is part of the economy, like its counterpart assets and the trade in physical goods. The credit system made a major contribution to the fact that economic development has been consistently positive since industrialisation and society has been able to benefit from it. Whereas the balance of debt/credit had remained more or less in equilibrium until the 20th century, it is now worryingly…