Dear Sir and Madam, on Tuesday we had given you an update on TubeSolar's corporate history and announced that Dr. Karsten von Blumenthal, analyst at First Berlin Equity Research, would revise his assessment of the stock in the coming days. This has now been done. With Mr. von Blumenthal's permission, we are happy to provide you with the analysis.

For three years, Modern Monetary Theory has led the world to believe that it can create an economic paradise - a world in which the state has unlimited capital at its disposal for investment or job guarantees to ensure a perpetual upswing. Now - in view of high inflation rates - the litmus test is due. And the theory fails miserably. Remember. In 2019, much was written about the fascinating "Modern Monetary Theory". Even private wealth reported on it (link 01/19 Welcome to paradise).The idea: government deficits do not matter, fiscal policy must and can ensure full employment. After all, the central banks would provide the necessary capital. They finance the state sector as needed and set interest rates at will - preferably at zero. Sound...

After the turbulent stock market days of the last week, we were very curious about the current result of the capital market seismograph. Would the seismograph, which is supposed to warn of massive stock market storms in good time, strike out? "Our indicators tend to suggest that the setbacks on the stock markets are an exaggeration. We do have to be prepared for turbulent times lasting longer than expected - but these do not necessarily have to be bad for stock investors," informs Oliver Schlick, Managing Director of Secaro GmbH, who regularly calculates the model and links it to investment recommendations. As you know, the seismograph combines various economic variables, such as early economic indicators, interest rate developments or...

In July 2021, the economic indicator - part of the private-wealth stock market model - had given a sell signal. As a result, at a DAX level of around 15,600 points, the model reduced the proposed equity allocation from 110 percent (overweight) to 75 percent (underweight). Now - after a very volatile start to the year - the private-wealth stock market model is going on the offensive again at a DAX level of around 15,100 points. We explained the logic of the stock market model to you in detail a month ago (LINK). As explained, in the model we use the ifo business expectations in German industry as an indicator of the influence of the economy on the stock market. If they deteriorate, this is an indication of an economic downturn with...

In the cover story of the latest issue of private wealth, we introduced you to the entrepreneurial couple Martine and Jean-Paul Clozel. They are founders and major shareholders of the Swiss biopharma company Idorsia. Jean-Paul directs the company's business as CEO, while Martine heads up research as Chief Scientific Officer.The goal of the two is to build Idorsia into a leading biopharmaceutical company with a strong scientific core, "We want to discover things that others haven't discovered. We want to see how the projects we've started turn out. And we want to commercialize them ourselves." (link to article) A first milestone on this path has now been reached. On January 10, the U.S. Food and Drug Administration (FDA) granted approval...