Since the historic slump in spring, the stock markets have recovered or even reached new highs: the Dax has jumped the 13,000 points several times, other indices such as the Nasdaq and S & P500 are posting record highs. The “Financial Times” wrote of the “biggest August bonanza for decades” in view of the MSCI World’s profits of a good six percent that month. The traders appeared to have acted instead of being on the beach.
Nevertheless, there is still great skepticism: How sustainable is this boom? Given the historic economic crisis, which is far from over, what is this rally doing? And can you still get in now? “In the long run, the sharp fall in the stock markets in spring is a fly in the air”, said Christian Röhl, asset manager and dividend expert in the podcast “Die Stunden Null” (Personal-Financial.com, n-tv, Stern). “Looking back, one can only ask: What happened historically after an all-time high on the stock markets? The next all-time high. It just took a long time. “
According to the bestselling author, prices are not decisive for investors. “It’s about a mindset, the conceptual approach to the topic of stocks: How do I manage my assets, what does my money mean to me? That is much more important than the question: Do I buy Apple or Amazon? ”Especially since many evaluation models have the same meaningfulness as before. “We no longer have a risk-free interest rate, but an interest-free risk, all of the valuation models no longer work.”
It is important to have a strategy and the scenarios to which you are prepared – and these always include setbacks. “That is a scenario that I always have to reckon with. I don’t have to expect a virus to come, but expect a slump at any time, ”said Röhl, who has been investing in the stock market for over two decades and operates the“ Dividendenadel ”platform. Shares were part of every wealth creation – stocks with dividend continuity and good cash flow.
Overall, he observes that the notoriously panicked German investor behaved more prudently in the crash – which is also reflected in the figures of large fund companies such as Deka or Union Investment, which reported hundreds of thousands of new savings plans in the first half of the year. “There were many who only really discovered the topic of stocks during this crisis,” said Röhl. There is now a new chance for the equity culture in Germany. “Please don’t let’s screw this up now.”
Now listen to the podcast “The Zero Hour”,
- what Christian Röhl thinks about stocks like Apple, Tesla and BASF;
- why dividend stocks remain attractive even if many companies cut or suspend their dividends;
- why between the ages of 20 and 30 you shouldn’t spend hours analyzing individual stocks, but rather save in ETFs – and step on the gas at work.
“Zero Hour” is available directly from Audio Now, Apple or Spotify or via Google.