Nobody knows what the future will bring – not even the bankers.
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When it comes to investing, only two things are certain: the past and the costs. Banks that know as little about the future as the investor earn from the fees. A plea for the courage to manage your wealth yourself.
E.At the end of this week, if you have a custody account, mail from the bank will arrive again. She needs to tell you, whether you have an administrator or not, how the third quarter went. It was the usual ascent and descent for shareholders. The German share index (Dax) stood at 12,261 points on July 1st. In the following weeks it rose to 13,256 points, and by the end of last week it fell to 12,469 points. This corresponds to an increase of 1.7 percent. The American S&P 500 is up 5.9 percent over the same period, and the Chinese Shanghai Composite is up 6.4 percent.
The three figures show that stocks remain “unpredictable” investments and that broad diversification is the best remedy for fluctuations of all kinds. In the exuberance of emotions, private individuals should not forget to deal with the question of whether active asset management really is the real Jacob, because costs are the only constant that can be influenced by the investor.