Review and outlook 2021

2020 sharpest recession since 1945 In the investment year 2019, the global trade conflicts and the weakening economic growth were clearly in focus. The somewhat more expansive central bank policy, but also the first discussions about fiscal policy measures under the guise of the “Green New Deal” caused the stock markets to rise further at the beginning of this year and in some cases…


World with COVID-19

The long-term impact of the pandemic on the economy, financial markets and society is difficult to assess. We ask some questions and try to answer them to the best of our knowledge. Along the way, you will learn what the abbreviations SRSSI mean.   Question 1: Will the virus remain a constant companion of mankind? The more decentralized, the more heterogeneous and the more often information…


Dictionary of Equity Market Terms

Given the corona and holiday season, some humour with a serious background is probably more appropriate than a theoretical discourse. The following selection of terms for the letters of the alphabet is not entirely arbitrary but is intended to entertain.   Alpha: Price gain or loss thanks to market-independent factors. A portfolio of solely alpha-positive individual stocks is the Holy Grail…