• My world is orange.

  • My world is orange.

    My task is to strengthen our position as the world market leader in an increasingly complex world.
  • My world is orange.

    At the same time, I have to ensure that Stihl remains a true family business.
  • My world is orange.

    Stihl operates in a "growing" business. As long as trees, shrubs and grass grow, they have to be pruned.
  • My world is orange.

    90 percent of Stihl's turnover is generated abroad, 30 percent of its employees are employed in Germany.
  • My world is orange.

    Despite all the changes, it is important to reflect on the values that have made Stihl great
PRIVATE-WEALTH.DE

UK election - positive signal for British equities

Dear Readers, Boris Johnson's Conservative Party won the absolute majority in the British Parliament. This has made one of the core risks of recent months more predictable. The House of Commons will now quickly adopt the necessary laws for Britain's withdrawal from the EU on 31 January. What comes after 31 January 2020, however, is less clear. This is when tough and probably long trade agreements...

Relaxed stock market mood.

on 09 December 2019

Dear Readers, of the capital market seismographs continues to signal calmness. "In the last two weeks, the sum of the "good" probabilities has even increased by more than 90 percent. The seismograph therefore still suggests a maximum weighting of the equity quota," explains Oliver Schlick. As you know, the seismograph distinguishes between three phases: "green" (quiet market = buy), "yellow" (turb...

Buy-signal ante portas.

on 26 November 2019

Dear Readers, The ifo business climate improved slightly in November. Of particular interest was the development of business expectations for the economy as a whole and for industry as a whole, which we regard as a sentiment indicator for the global economy and the stock markets. The expectation component of the overall economy has now risen for the second time in succession. In the manufacturing...

Columbia Threadneedle Webinar for Absolute Return Funds on 12.11.2019

Dear private wealth community, On 12 November, fund manager Alasdair Ross will present his Enhanced Money Market strategy, the Threadneedle (Lux) Global Investment Grade Credit Opportunities Fund, in a webinar. The Absolute Return Fund seeks positive returns above money market levels by investing in Columbia Threadneedle's best investment ideas in the global investment grade universe and combining...

Thunderclouds have dissipated.

on 19 September 2019

Dear Readers, In recent weeks, the thunderclouds measured by capital market seismographs have gradually dissipated over the capital markets. "The sum of the "good" probabilities is now over 70 percent again." In combination with the sudden increase in the probability of calm markets, this ensures that the seismograph now considers a short-term significant increase in the share quota to be appropri...

Germany's industry in recession

on 26 August 2019

Dear Readers, The ifo-Institut writes that the worries among German corporate leaders are getting deeper and deeper. In August, the ifo business climate finally fell significantly once again and has now reached its lowest level since November 2012. In industry, which we regard as a sentiment indicator for the global economy and the stock markets, a similar pessimism was last observed in the crisis...

Seismograph gives a thunderstorm warning.

on 20 August 2019

Dear Readers, We have just received the new estimate of the team around Oliver Schlick, who regularly calculates the capital market seismograph. Since our last report to you, the likelihood of negative turbulence has quickly built up, although the absolute level remains within bounds. The speed at which thick black clouds form in order to remain in the seismograph's image is more of a concern here...

On the brink of recession

Dear Readers, The mood on the German executive floors is becoming uncomfortable, writes the ifo Institute. In fact, the ifo business climate continued to decline in July. In industry, which we regard as a sentiment indicator for the global economy and the stock markets, the business climate indicator is even in free fall. Especially the export suffers (graphic 1).

The seismograph points to a turbulent but positive market development.

Dear Readers, We have just received the new estimate of the team around Oliver Schlick, who regularly calculates the capital market seismograph. As you know, it distinguishes between three phases: "green" (quiet market = buy), "yellow" (turbulent market with positive expectation = invest, but with hedge) and "red" (turbulent market with negative expectation = do not invest). Currently, the probabi...

Between hope and sorrow.

Dear Readers, The ifo business climate rose in March for the first time in six months. This, at first glance, good news, however, is put into perspective when looking at the individual areas. The service sector, trade and construction were responsible for the increase. In industry, which is regarded as a sentiment indicator for the global economy and the stock markets, the decline continued steepl...

No all-clear for the economy

on 25 February 2019

Dear Readers, The ifo business climate continued to fall in February. The worries in the German executive floors are increasing, according to the Munich economic researchers. The results of the ifo survey and other indicators would point to economic growth of 0.2 percent in the first quarter of 2019. After a minus of 0.2 percent in the third quarter and a black zero in the fourth quarter of 2018,...

Capital market seismograph becomes more positive, economic outlook remains critical

on 11 February 2019

Dear Readers, "The probability distribution of future stock market developments has just fundamentally changed. We are still a long way from the positive figures that prevailed until autumn 2018. But the sharp decline in the probability of negative turbulence suggests an increase in the equity quota," analyses Oliver Schlick, who recalculates the capital market seismograph every four days. As you...

Economic risks intensifying

on 28 January 2019

Dear Readers, The ifo business climate continued to decline significantly in January. In the German executive floors, the Munich conuncture researchers write, the restlessness is growing. In fact, all components of the ifo business climate declined. The collapse of expectations for the coming six months was particularly drastic in the retail and manufacturing sectors. As you know, we are monitorin...

2019 begins in crisis mode

on 07 January 2019

Dear Readers, "the monthly comparison of the probabilities of the capital market seismograph reflects a crisis situation on the stock markets," informs Oliver Schlick, who recalculates the capital market seismograph every four days. As you know, the capital market seismograph distinguishes between three phases: "green" (quiet market = buy), "yellow" (turbulent market with positive expectation = in...

In the year 2019 sowing will take place.

on 28 December 2018

Dear Readers, it's been a turbulent year. What began in an exuberant mood - economic and profit expectations were massively revised upwards at the beginning of 2018 - now ends in minor. Economists are cutting their growth forecasts, stock prices are falling. Investors look to the New Year with concern. One of the best leading indicators signaled this trend reversal in good time. In February 2018,...

The economy continues to cloud over.

on 11 December 2018

Dear Readers, The ifo business climate in November did not reverse the trend. The most important component for us - the industry's expectations for the future - has continued to decline. The ifo traffic light is now also "red" again. Red traffic light values make a contraction of the economy more likely than an expansion.

The weather is getting a little more relaxed.

on 20 November 2018

Dear Readers, "the thunderstorm front, which led us to completely dismantle our shareholding two weeks ago, has now dissipated somewhat," informs Oliver Schlick, who recalculates the capital market seismograph every four days. As you know, the capital market seismograph distinguishes between three phases: "green" (quiet market = buy), "yellow" (turbulent market with positive expectation = invest,...

Stock market indicator remains negative.

on 27 October 2018

Dear Readers, The ifo business climate is pointing downwards again in October. The most important component for us - the expectations in industry for the future - also fell back after a twofold increase. After a brief recovery, the mood in the export sector has also been dampened. The ifo traffic light has thus switched from "green" to "yellow". At yellow traffic lights, the ifo Institute assumes...

Capital market seismograph warns of stock market storm.

on 23 October 2018

Dear Readers, "The pace at which the probability of a bear market increases is worrying," informs Oliver Schlick, who recalculates the capital market seismograph every four days. As you know, the capital market seismograph distinguishes between three phases: "green" (quiet market = buy), "yellow" (turbulent market with positive expectation = invest, but with hedge) and "red" (turbulent market with...

Capital market seismograph says "sell."

on 17 October 2018

Dear Readers, The new data of the capital market seismograph reach us just now. "The climate shift on the capital market, which has been the subject of discussion for quite some time, is now reflected in the probabilities of the seismograph and leads to the recommendation of a strong reduction in the share quota", Oliver Schlick informs, "the advice is to reduce the weight of shares considerably....

« »

UK election - positive signal for British equities

Dear Readers, Boris Johnson's Conservative Party won the absolute majority in the British Parliament. This has made one of the core risks of recent months more predictable. The House of Commons will now quickly adopt the necessary laws for Britain's withdrawal from the EU on 31 January. What comes after 31 January 2020, however, is less clear. This is when tough and probably long trade agreements...

Relaxed stock market mood.

on 09 December 2019

Dear Readers, of the capital market seismographs continues to signal calmness. "In the last two weeks, the sum of the "good" probabilities has even increased by more than 90 percent. The seismograph therefore still suggests a maximum weighting of the equity quota," explains Oliver Schlick. As you know, the seismograph distinguishes between three phases: "green" (quiet market = buy), "yellow" (turb...

Buy-signal ante portas.

on 26 November 2019

Dear Readers, The ifo business climate improved slightly in November. Of particular interest was the development of business expectations for the economy as a whole and for industry as a whole, which we regard as a sentiment indicator for the global economy and the stock markets. The expectation component of the overall economy has now risen for the second time in succession. In the manufacturing...

Columbia Threadneedle Webinar for Absolute Return Funds on 12.11.2019

Dear private wealth community, On 12 November, fund manager Alasdair Ross will present his Enhanced Money Market strategy, the Threadneedle (Lux) Global Investment Grade Credit Opportunities Fund, in a webinar. The Absolute Return Fund seeks positive returns above money market levels by investing in Columbia Threadneedle's best investment ideas in the global investment grade universe and combining...

Thunderclouds have dissipated.

on 19 September 2019

Dear Readers, In recent weeks, the thunderclouds measured by capital market seismographs have gradually dissipated over the capital markets. "The sum of the "good" probabilities is now over 70 percent again." In combination with the sudden increase in the probability of calm markets, this ensures that the seismograph now considers a short-term significant increase in the share quota to be appropri...

Germany's industry in recession

on 26 August 2019

Dear Readers, The ifo-Institut writes that the worries among German corporate leaders are getting deeper and deeper. In August, the ifo business climate finally fell significantly once again and has now reached its lowest level since November 2012. In industry, which we regard as a sentiment indicator for the global economy and the stock markets, a similar pessimism was last observed in the crisis...

Seismograph gives a thunderstorm warning.

on 20 August 2019

Dear Readers, We have just received the new estimate of the team around Oliver Schlick, who regularly calculates the capital market seismograph. Since our last report to you, the likelihood of negative turbulence has quickly built up, although the absolute level remains within bounds. The speed at which thick black clouds form in order to remain in the seismograph's image is more of a concern here...

On the brink of recession

Dear Readers, The mood on the German executive floors is becoming uncomfortable, writes the ifo Institute. In fact, the ifo business climate continued to decline in July. In industry, which we regard as a sentiment indicator for the global economy and the stock markets, the business climate indicator is even in free fall. Especially the export suffers (graphic 1).

The seismograph points to a turbulent but positive market development.

Dear Readers, We have just received the new estimate of the team around Oliver Schlick, who regularly calculates the capital market seismograph. As you know, it distinguishes between three phases: "green" (quiet market = buy), "yellow" (turbulent market with positive expectation = invest, but with hedge) and "red" (turbulent market with negative expectation = do not invest). Currently, the probabi...

No improvement in sight.

Dear Readers, In June, the ifo business climate fell further to its lowest level since November 2014. In industry, which we regard as a sentiment indicator for the global economy and the stock markets, pessimism increased again after a brief improvement in sentiment in May. As in recent months, favourable assessments in the service sector and in construction are still supporting the overall climat...

« »

how to earn it

"My world is orange."
25 Nov 2019 - Sabine Holzknecht

Family business. The first generation founds the company. The second one makes it big. And the third? "My task is to strengthen our position as the  [ ... ]

read more...
Tomorrow's snow.
25 Nov 2019 - Dr. Günter KastTomorrow's snow.

Innovation. Jens Reindl develops textile sliding mats in his Mr. Snow GmbH, which make it possible to practice skiing without snow and also in summe [ ... ]

read more...
Concentrated energy.
25 May 2019 - Dr. Günter KastConcentrated energy.

Future technology. Sven Bauer, CEO and founder of the BMZ Group, has turned the company from Karlstein am Main in Lower Franconia into a global player [ ... ]

read more...
Extreme conditions.
25 May 2019 - Cornelia KnustExtreme conditions.

Hidden champion. When you dive, you need air - clean and safe. The compressor manufacturer Bauer from Munich is regarded as the market leader and indu [ ... ]

read more...
Technology transfer.
25 May 2019 - Dr. Ludger WeßTechnology transfer.

Innovation. When it comes to high-tech textiles, most people think of intelligent clothing with woven-in sensors or batteries. Technical textiles ar [ ... ]

read more...
Against the main stream.
25 May 2019 - Yvonne DöblerAgainst the main stream.

Entrepreneurship. Everything is different with Ulrich Kubak. And again and again. The majority shareholder of Klassik Radio AG from Augsburg broke all [ ... ]

read more...
It works.
25 May 2019 - Yvonne DöblerIt works.

Sustainable growth. A manufacturer of fresh natural cosmetics and dietary supplements from the Austrian province is conquering the bathrooms and kitch [ ... ]

read more...
New start in Brazil.
11 Dec 2018 - Sonderveröffentlichung: LIDE Deutschland GmbHNew start in Brazil.

Network. "The hope of a neo-liberal renewal of the Brazilian economy is linked to the new President Jair Bolsonaro," says Christian Hirmer, President  [ ... ]

read more...
The big jump.
11 Dec 2018 - Yvonne DöblerThe big jump.

Expansion. The Swabian family business Schweizer Electronic has an exciting past behind it. And an even more exciting future ahead. "Over the next ten [ ... ]

read more...

how to invest it

The Lerbach Round. The wisdom of the many.
25 Nov 2019 - Yvonne Döbler, Gerd Hübner, Klaus MeitingerThe Lerbach Round. The wisdom of the many.

Panel of experts. The Lerbach Round Table celebrates its tenth anniversary. Since 2009, bankers, asset managers and family officers have met on [ ... ]

read more...
The future in the depot.
25 Nov 2019 - Yvonne Döbler, Gerd Hübner, Klaus Meitinger The future in the depot.

Markets. Countries with strong growth and major challenges are attracting investor interest. The Lerbach Round sees investment opportunities both in [ ... ]

read more...
Techceleration.
25 Nov 2019 - Yvonne Döbler, Gerd Hübner, Klaus MeitingerTechceleration.

Disruption. The speed of innovation in the economy and society is increasing dramatically. The Lerbach Round Table analyses the technology boom and  [ ... ]

read more...
Investment for Future.
25 Nov 2019 - Investment for Future.Investment for Future.

Sustainable investments. Those who integrate aspects of sustainability into their investment processes will not only generate more returns in the fu [ ... ]

read more...
Hunt for returns.
25 Nov 2019 - Yvonne Döbler, Gerd Hübner, Klaus MeitingerHunt for returns.

Interest investments. In view of negative yields on German government bonds, investors will have to realign their portfolios. But can there even be  [ ... ]

read more...
Security for TINA.
25 Nov 2019 - Yvonne Döbler, Gerd Hübner, Klaus MeitingerSecurity for TINA.

Stock strategy. Equities are indispensable in portfolio allocation today - There Is No Alternative (TINA). However, not everyone can live with the h [ ... ]

read more...
_________________________________
25 Nov 2019 - Schroder Real Estate_________________________________

Asset class Real estate. Wealthy investors and family offices are continuously expanding the proportion of real estate in their portfolios. Thomas W [ ... ]

read more...
Little pearls, big ones.
25 Nov 2019 - Columbia ThreadneedleLittle pearls, big ones.

Small caps. Shares in smaller companies often receive little attention from the analysts of large financial institutions. As a result, there are alw [ ... ]

read more...
Of chaff and wheat.
25 Nov 2019 - Metzler seel. Sohn & Co.Of chaff and wheat.

Stock market strategy. The expansive stance of the central banks supports the stock markets. Doch not all areas will benefit. Carolin Schulze Pals [ ... ]

read more...

how to live it

Hole in one.
25 Nov 2019 - Ergül AltinovaHole in one.

Around the world in 26 days by Learjet - playing golf on 15 courses in seven countries on four continents. PGA trainer Ergül Altinova will realise  [ ... ]

read more...
Everything in view.
25 Nov 2019 - Rödl & Partner GbREverything in view.

Digital wealth reporting. Getting an informative, structured overview of your total assets online at any time is the key to successful asset managem [ ... ]

read more...
"Network and trust."
25 Nov 2019 - Michael Reiss

Real estate. If an auction house operates real estate agencies, there is probably a very special idea behind it. Michael Reiss is managing partner o [ ... ]

read more...
So it stays in the family.
25 Nov 2019 - Dr. Ann Sophie Löhde Prof. Dr. Tom-Arne Rüsen, Wittener Institut für Familien­unter­nehmenSo it stays in the family.

From the research workshop. Entrepreneurial families are as unique as any private small family - but they have one very specific goal in common: to  [ ... ]

read more...
With hot-water bottle and WLAN.
25 Nov 2019 - Dr. Günter KastWith hot-water bottle and WLAN.

Journey. Eduard Rauchdobler from Linz and Enrique Umbert from Lima wanted to make the trek to the Inca ruins of Machu Picchu more comfortable. Today [ ... ]

read more...
The bee family.
25 May 2019 - Antje Annika SingerThe bee family.

Pleasure. In the 1970s, Walter Lang decided to become self-sufficient. He soon became one of the pioneers of the organic movement in Germany. What a [ ... ]

read more...
A changing world.
25 May 2019 - Klaus MeitingerA changing world.

The private-wealth forum. On 25 January 75 geladene met guests from completely Germany in the hotel La mansion in star mountain 13 experts, in ord [ ... ]

read more...
On a discovery tour.
25 May 2019 - Thilo NatkeOn a discovery tour.

Thilo Natke is captain of the new expedition ship Hanseatic nature. For 29 years he has been sailing the seas between the Arctic and Antarctica, to  [ ... ]

read more...
Where the future stands on the c(l)ippe.
25 May 2019 - Dr. Günter KastWhere the future stands on the c(l)ippe.

Philanthropy. Zita Cobb, who has made a fortune in the glass fiber industry, wants to save her home Fogo Island in the Canadian province of Newfound [ ... ]

read more...

Opinionleader

Inside USA.
25 Nov 2019 - Markus Kaim

The strategist Markus Kaim sits in Washington, the control center of power. From there he analysed [ ... ]

read more...
New digital world.
25 May 2019 - Manfred BroyNew digital world.

"The digital transformation is changing the economy and society more drastically than ever before, [ ... ]

read more...
The future of the energy revolution.
11 Dec 2018 - Martin FaulstichThe future of the energy revolution.

"The energy revolution is a huge challenge," explains Martin Faulstich, until 2016 Chairman of the [ ... ]

read more...
"Now it's enough."
01 Oct 2018 - Dr. Peter Bofinger

The economist Peter Bofinger has always defended the monetary policy of the ECB. Why Mario Draghi  [ ... ]

read more...
Entrepreneurs must act now.
01 Oct 2018 - Florian KleinEntrepreneurs must act now.

Many companies in Germany are facing huge challenges. "Our scenario analysis shows how decision-ma [ ... ]

read more...
How families solve conflicts.
01 Oct 2018 - Sonderveröffentlichung: Professor Dr. Heiko Kleve (Wittener Institut für Familienunternehmen) How families solve conflicts.

From the research workshop. Entrepreneur families create rules and statutes that regulate life tog [ ... ]

read more...
"The cobalt boom is justified."
01 Oct 2018 - Abi Mukhta

"The high prices for cobalt and lithium reflect the current supply-demand situation," says Abid Mu [ ... ]

read more...
"It's a cobalt hype."
01 Oct 2018 - Christoph Eibl

"The prices for cobalt and lithium are currently significantly exaggerated. Viele Suppliers want t [ ... ]

read more...
Museums must reinvent themselves.
01 Oct 2018 - Dr. Florian Mercker

Should there be free admission to state museums or not? Florian Mercker, private-wealth art expert,  [ ... ]

read more...

A letter from

LaGarde, guardian of money?
25 Nov 2019 - Carsten Mumm

A letter from ... Carsten Mumm. The chief economist of the bank Donner & Reuschel thinks about t [ ... ]

read more...
Well meant is not well done.
23 May 2019 - Hans-Werner Sinn

A letter from ... Hans-Werner Sinn. The emeritus president of the Munich ifo Institute questions cli [ ... ]

read more...
Billionaires move the world forward.
11 Dec 2018 - Caroline Kuhnert

A letter from ... Caroline Kuhnert is responsible for high net worth individuals at UBS. Sie expla [ ... ]

read more...
Everyone has to be able to participate.
02 Oct 2018 - Prof. Marcel Fratzscher

A letter from ... Professor Marcel Fratzscher. The head of the DIW sees the current justice debate a [ ... ]

read more...
Protective layers.
02 Oct 2018 - Dr. Walther Michl

A letter from ... Dr. Walther Michl. The Academic Council at the Chair of Public Law and Europe [ ... ]

read more...
Become wiser.
02 Oct 2018 - Bernd Kolb

A letter from ... Bernd Kolb, who founded the Club of Marrakesh to give impulses for a better world. [ ... ]

read more...
"Is passive investing really better than active in...
02 Oct 2018 - Camille Thommes

A letter from... Camille Thommes. The Director General of the Association of the Luxembourg Fun [ ... ]

read more...
Greek tragedy.
02 Oct 2018 - Jochen Felsenheimer

Jochen Felsenheimer is Managing Director of XAIA Investment and reflects on the long-term consequenc [ ... ]

read more...
"I'm worried already."
02 Oct 2018 - Wolfgang Bosbach

A letter from ... Wolfgang Bosbach. The controversial member of the Bundestag reflects on politics,  [ ... ]

read more...

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