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    Apr 03, 2020 Editorials

    Insecure times.

    Dear readers,at private wealth, it is our goal to present investors and entrepreneurs on our homepage only with information that is highly relevant to this target group.In order to support you in your investment decisions in these turbulent times, we publish, for example, the results of models that you won't find anywhere else.So far this has brought real added value. For example, the capital market seismograph - the results of which we publish regularly - advised a massive reduction in the…
    Klaus Meitinger 67
  • 22 Wong 1
    Nov 25, 2019 Editorials

    Cargo chic.

    Entrepreneurship. The Wong family in Papeete, Tahiti, has developed a very special business model out of necessity. Their Compagnie Polynésienne de Transport Maritime combines passenger and cargo shipping, heading for two unusual destinations in the South Pacific: the remote Marquesas Islands, where painter Paul Gauguin is buried. And the island of Pitcairn, where the mutineers of the "Bounty" once hid and where their descendants still live today.
    Dr. Günter Kast 117
  • 32 KlimaHerkules Aufmacher
    Nov 25, 2019 Editorials

    Herculean task.

    In the chart above, only CO2 emissions from the fossil fuels coal, oil and gas are listed. If other sources such as cement production or cattle breeding were also taken into account, they would be around ten percent higher. Source: BP Stop climate change. Climate change is a global problem - and can therefore only be solved internationally. Strategies that rely on national solo efforts, on renunciation and bans will not work. What is needed are entrepreneurial initiatives and innovative…
    Hanns J. Neubert und Ludger Wess 136
  • 92 Stil Golf
    Nov 25, 2019 How to live it

    Hole 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 this adventure for 60 golf enthusiasts in November 2020.
    Ergül Altinova 137
  • unterschrift-km
    Nov 25, 2019 Editorials

    An intrepid look into the 2020s.

    Dear Readers, in a few weeks, the new decade will begin. The last decade has been shaped by the disappearance of interest rates, the outstanding performance of the US equity market and the recognition that the world has a real problem with climate change. This is the starting point for strategic thinking on the 2020s. Thinking ahead, global warming will remain the greatest socio-political challenge. We see a halfway realistic hope in the "self-defeating prophecy". If the lung doctor says to the…
    Klaus Meitinger 203
  • Default Image
    Nov 25, 2019 Opinionleader

    Inside USA.

    The strategist Markus Kaim sits in Washington, the control center of power. From there he analysed the current US policy, transatlantic relations and the upcoming election campaign for the Lerbach Round.
    Markus Kaim 135
  • 14 STIHL 20190710 DSF3781
    Nov 25, 2019 How to earn it

    "My world is orange."

    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 world market leader in an increasingly complex world and to ensure that Stihl remains a true family business at the same time," explains Nikolas Stihl. How the chairman of the advisory board as chief strategist sets the course for this.
    Sabine Holzknecht 207
  • 28 Snow 1
    Nov 25, 2019 How to earn it

    Tomorrow'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 summer. In times of climate change, the future could belong to the business model from Chemnitz.
    Dr. Günter Kast 123
  • 42 Lerbach 20190914 DSF5980
    Nov 25, 2019 How to invest it

    The 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 once a year to provide wealthy investors with inspiration and orientation. This year, they are not only scrutinizing the economy and capital markets. 36 proven investment experts answer the most important questions on the investment year 2020 and discuss the most exciting investment ideas and, in five workshops, also the most interesting investment…
    Yvonne Döbler, Gerd Hübner, Klaus Meitinger 257
  • 48 20190914 DSF5830
    Nov 25, 2019 How to invest it

    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 emerging markets and in the so-called frontier markets. Your favourite: Asien.
    Yvonne Döbler, Gerd Hübner, Klaus Meitinger 121
  • 56 20190913 DSF5804
    Nov 25, 2019 How to invest it


    Disruption. The speed of innovation in the economy and society is increasing dramatically. The Lerbach Round Table analyses the technology boom and shows how investors can benefit from it.
    Yvonne Döbler, Gerd Hübner, Klaus Meitinger 116
  • 54 20190914 DSF5824
    Nov 25, 2019 How to invest it

    Investment for Future.

    Sustainable investments. Those who integrate aspects of sustainability into their investment processes will not only generate more returns in the future. It also helps to change the economy and society in a positive way. Because capital can move a lot.
    Investment for Future. 106
  • 52 20190914 DSF5845
    Nov 25, 2019 How to invest it

    Hunt 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 a substitute for safe and liquid government bonds? And - where do investors still find reasonable returns?
    Yvonne Döbler, Gerd Hübner, Klaus Meitinger 114
  • 60 20190914 DSF5875
    Nov 25, 2019 How to invest it

    Security for TINA.

    Stock strategy. Equities are indispensable in portfolio allocation today - There Is No Alternative (TINA). However, not everyone can live with the higher volatility of the asset class. The Lerbacher Runde explains how investors can effectively reduce fluctuations.
    Yvonne Döbler, Gerd Hübner, Klaus Meitinger 105
  • 62 Schroders 265235956
    Nov 25, 2019 How to invest it


    Asset class Real estate. Wealthy investors and family offices are continuously expanding the proportion of real estate in their portfolios. Thomas Wiegelmann, Managing Director at Schroder Real Estate, and Morten Bennedsen, Professor of Family Business at INSEAD University, explain why an investment in real estate is attractive and how it is intelligently implemented.
    Schroder Real Estate 128
  • 66 Threadneedle iStock 184437744
    Nov 25, 2019 How to invest it

    Little 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 always particularly interesting opportunities to discover in this segment. "But a truly successful, long-term small-cap strategy requires a global and active approach and a lot of know-how," Scott Woods and Neil Robson of Columbia Threadneedle are convinced.
    Columbia Threadneedle 118
  • 72 Metzler AdobeStock 212563136
    Nov 25, 2019 How to invest it

    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 Palstring, Head of Capital Market Analysis at Metzler Private Banking, examines the various investment segments.
    Metzler seel. Sohn & Co. 104
  • 76 Eyb Wallwitz iStock 1051617224
    Nov 25, 2019 How to invest it

    The best of both worlds.

    Strategy. The asset manager Eyb & Wallwitz has been performing above average for institutional clients for 15 years. "Now we want to make our quality and successful asset management strategies easily accessible to even more investors," explains Eduardo Mollo Cunha, partner at Eyb & Wallwitz. His answer to the Fintech revolution is Eyb & Wallwitz digital.
    Eyb & Wallwitz 82
  • 78 Soltes Koberstaedt EHH 002 20x30
    Nov 25, 2019 How to invest it

    Martin mobilizes.

    Social entrepreneur. Economic development in Africa needs a new mobility concept. The entrepreneur Martin Šoltés and his colleagues have therefore developed a special electric vehicle. To improve the lives of many Africans, he seeks impact investors.
    Miriam Zerbel 107
  • 81 Matador iStock 1170720468
    Nov 25, 2019 How to invest it

    When the opportunity knocks.

    Private equity and infrastructure. "We actually specialise in secondary market funds in the private equity sector," explains Florian Dillinger, Matador Partners Group AG. But when a special opportunity presents itself, he invests in infrastructure. This combination of both asset classes has a special charm for the investment company Matador.
    Matador Partners Group AG 96
  • 221881590.jpg
    Nov 25, 2019 How to invest it

    Investment with family connection.

    Selection. In a current study, the Center for Entrepreneurial and Financial Studies (CEFS) of the Technical University of Munich, on behalf of the Stiftung Familienunternehmen, investigated whether the shares of family-run companies are the better investment. The results are making investors sit up and take notice.
    Gerd Hübner 94
  • 1133659494.jpg
    Nov 25, 2019 How to invest it

    Double success.

    Microfinance. Microcredits give people in poorer countries the chance to build something up to secure their livelihood in the long term. "At the same time, microfinance offers investors ongoing interest income and a positive diversification effect at portfolio level," says Daniel Kerbach, CIO of Merck Finck Privatbankiers. This makes this asset class attractive in two respects.
    Merck Finck Privatbankiers 67
  • 88 Schroders PE AdobeStock 127013703
    Nov 25, 2019 How to invest it

    Asia, the power house.

    Private equity in Asia. In the 21st century, Asia will dominate the world. In no other region do investors find such a combination of size and growth. Private equity is the key to unlocking this potential.
    Schroders Deutschland 77
  • 102 Roedl T9RXM4
    Nov 25, 2019 How to live it

    Everything in view.

    Digital wealth reporting. Getting an informative, structured overview of your total assets online at any time is the key to successful asset management. Alexander Etterer, Partner and responsible for the Wealth, Reporting & Controlling division of the auditing firm Rödl & Partner, explains how wealthy families intelligently implement and use this.
    Rödl & Partner GbR 114
  • 112 Sothebys DSC8640 1 Kopie
    Nov 25, 2019 How to live it

    "Network and trust."

    Real estate. If an auction house operates real estate agencies, there is probably a very special idea behind it. Michael Reiss is managing partner of Sotheby's International Realty in Munich. He describes his vision and current real estate trends.
    Michael Reiss 95
  • 114 Witten ILLU bleibt in der Familie
    Nov 25, 2019 How to live it

    So 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 keep the company successful in the family for future generations. To achieve this, different types of families must find answers to different questions.
    Dr. Ann Sophie Löhde Prof. Dr. Tom-Arne Rüsen, Wittener Institut für Familien­unter­nehmen 118
  • 116 MLP 1
    Nov 25, 2019 How to live it

    With 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 her project "Mountain Lodges of Peru" is flourishing. And the two entrepreneurs are thinking about multiplying their concept in many other places of tourist interest.
    Dr. Günter Kast 117
  • Default Image
    Nov 25, 2019 A letter from

    LaGarde, guardian of money?

    A letter from ... Carsten Mumm. The chief economist of the bank Donner & Reuschel thinks about the monetary policy of the next decade.
    Carsten Mumm 112
  • Bildschirmfoto 2019 05 16 um 11.36.46
    May 25, 2019 How to live it

    The 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 about today? Today, Walter Lang GmbH is the market leader among Europe's organic honey importers. "I'm stuck with honey," laughs Karin Lang, a trained food technician. "And not just there," she adds with a smile. The 50-year-old company and family spokeswoman is married to Gerrit, the son of the founder of Walter Lang GmbH. Together with him and his…
    Antje Annika Singer 225
  • Klima iStock 523560339
    May 25, 2019 How to invest it

    Hot phase.

    Future investments. The unavoidable damage caused by climate change and the massive changes in the transition to a low-carbon world will significantly alter investment performance both in the short and long term. Investoren should act now.
    Klaus Meitinger 184
  • Forum
    May 25, 2019 How to live it

    A 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 order to discuss over current topics approximately around employers and investment. Ein Day full of inspiration and orientation. "Our entire commitment has always been based on the network idea", explains publisher Moritz Eckes, "it was only logical to create a forum where entrepreneurs and asset owners can intensively exchange ideas with proven…
    Klaus Meitinger 185
  • unterschrift-km
    May 25, 2019 Editorials

    Now it's all about the whole thing.

    Friday after Friday, pupils and students from all over the world, inspired by the Swede Greta Thunberg, will take to the streets to fight for a future in which global warming will be limited to two degrees, better still to 1.5 degrees. Unlike many "political professionals", the young generation has understood exactly what needs to be done. It is about drastically less consumption and a fair global burden sharing. Above all, we must ensure that 98 percent of fossil fuel reserves remain in the…
    Klaus Meitinger 248
  • Opinionleader Digitale Transformation
    May 25, 2019 Opinionleader

    New digital world.

    "The digital transformation is changing the economy and society more drastically than ever before," says Manfred Broy, founding president of the Zentrum Digitalisierung Bayern: "Small and medium-sized businesses must react quickly. The dramatic effects of the digital transformation can easily be seen in the list of the ten most valuable listed companies in the world. Seven of them are creatures of new technologies, six of them were not even listed there ten years ago. This gives an impression…
    Manfred Broy 201
  • BMZ MK105776 Bearbeitet
    May 25, 2019 How to earn it

    Concentrated 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 in the energy storage sector. Now he wants to set up his own battery cell production in Germany in order to become independent of Asian suppliers. The problem of climate change will only be tackled if we stop using fossil fuels for the foreseeable future - no oil, no gas, no coal," says Sven Bauer. Then he corrects himself. To speak of a…
    Dr. Günter Kast 225
  • Bauer Malediven Bayat2 edit
    May 25, 2019 How to earn it

    Extreme 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 industry ace. A third generation woman guides him through an increasingly hostile environment.
    Cornelia Knust 246
  • FAser dzp t1 stills copyright ansgar pudenz deutscher zukunftspreis 1300 edit
    May 25, 2019 How to earn it

    Technology transfer.

    Innovation. When it comes to high-tech textiles, most people think of intelligent clothing with woven-in sensors or batteries. Technical textiles are in the process of revolutionizing a wide variety of industries. They open up completely new market opportunities for entrepreneurs.
    Dr. Ludger Weß 228
  • Klassik
    May 25, 2019 How to earn it

    Against 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 rules and turned a loss-making niche station into a European market leader. Portrait of a free thinker, creative doer - and a company with plenty of potential.
    Yvonne Döbler 229
  • Ringana1
    May 25, 2019 How to earn it

    It works.

    Sustainable growth. A manufacturer of fresh natural cosmetics and dietary supplements from the Austrian province is conquering the bathrooms and kitchens of Europe. Ulla Wannenmacher and Andreas Wilfinger have fulfilled their dream of independence with Ringana - now their company is on a steep expansion path.
    Yvonne Döbler 274
  • pw einhornglas 26042019 final
    May 25, 2019 How to invest it

    I don't see unicorn mania.

    "The evaluation of the technology Unicorns Uber, Lyft, Airbnb and Pinterest reflects their gigantic growth potential," says Bernd Schrüfer of the Family Office Lucatis. Investors should be there.
    Bernd Schrüfer 227
  • pw einhornglas 26042019 final
    May 25, 2019 How to invest it

    Unicorns have fable ratings.

    "There is a lot of hope in the Tech-Unicorns' courses", Hendrik Leber of Acatis analyses. However, hope is usually a bad advisor when it comes to investing. Investors should therefore keep their hands off it.
    Hendrik Leber 192
  • Metzler 157914899
    May 25, 2019 How to invest it

    Godot's not coming.

    Stock market strategy. The dynamism of the global economy has slowed noticeably. Drohen will there be a slump in company profits and share prices in the future? Carolin Schulze Palstring, Head of Capital Market Analysis Metzler Private Banking, explores the situation.
    Sonderveröffentlichung: B. Metzler seel. Sohn & Co. 206
  • Robeco 647611700
    May 25, 2019 How to invest it

    True sustainability.

    Strategy. The United Nations' sustainability goals are to be implemented by 2030. "For companies that do not support these goals, this means significant financial and reputational risks," explains David Hawa of Robeco. He and his colleagues have therefore developed a model with which investors can determine whether a company is conforming to these goals.
    Sonderveröffentlichung: Robeco Deutschland 166
  • Sylvaindominique edit
    May 25, 2019 How to invest it

    Time and spirit.

    Art. The first Virtual Reality Museum was founded in 2016 by the Paris-based collector couple Sylvain and Dominique Levy. It manages one of the most forward-looking private collections of contemporary Chinese art in France, revolutionizing the history of the reception of art. Its history reflects the great adventure of the Levy family.
    Dr. Annette Doms 190
  • Threadneedle
    May 25, 2019 How to invest it

    What we really need.

    Infrastructure. Those looking for stable and high-yield investments have long been able to find interesting investment opportunities in the infrastructure sector. "We are now setting up a strategy that differs significantly from traditional funds in that it focuses on the mid-market segment and has an endless term," says Heiko Schupp, Columbia Threadneedle. "This offers a chance for higher profitability."
    Sonderveröffentlichung: Columbia Threadneedle 213
  • MMT AdobeStock 71362907
    May 25, 2019 How to invest it

    Welcome to paradise.

    Modern Monetary Theory. If the state wanted to spend more to stabilize the economy, it could simply print money - at least that is the "modern" monetary theory. Is a world without a recession really conceivable? What investors should consider.
    Klaus Meitinger 167
  • Kriton 475982323
    May 25, 2019 How to invest it

    Waking up Sleeping Beauty.

    Real estate. From old to new. In times of scarce land, the revitalisation and rededication of non-essential existing buildings on the company premises can be an interesting, fascinating and lucrative idea. Dr. Klaus Trescher, Kriton Immobilien, explains what entrepreneurs and investors should look out for.
    Sonderveröffentlichung: Kriton Immobilien GmbH 169
  • Stil
    May 25, 2019 How to live it

    On 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 the Amazon and the South Seas. Why this way of travelling fascinates him so much.
    Thilo Natke 196
  • Fugo
    May 25, 2019 How to live it

    Where 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 Newfoundland from bleeding and give her an economic perspective with an extraordinary, non-profit hotel and a foundation. She is convinced: "Our success can be imitated by other dependent communities."
    Dr. Günter Kast 183
  • MerckFinck 151615068
    May 25, 2019 How to live it

    The end of privacy.

    Technology. Video camera systems and search engines monitor us almost completely. At the same time, digital helpers improve our health and make life easier. Is the end of privacy a reasonable or too high price to pay for technical progress?
    Sonderveröffentlichung: Merck Finck Privatbankiers 197
  • Fusion w7x island chain
    May 25, 2019 How to live it

    Infinite energy.

    Technology. Nuclear fusion could be the way to solve all mankind's energy problems in an environmentally and climate-friendly way for all time. Scientists and engineers have been researching the technology for well over 70 years. Recently they have made enormous progress.
    Hanns-J. Neubert 219
  • Witten Familiennetwork
    May 25, 2019 How to live it

    Establishing and maintaining the family network.

    From the research workshop. Entrepreneurial families with more than 50 members are not just families or business-related organisations. They are also a special form of social networks - and thus a case for FON theory.
    Prof. Dr. Heiko Kleve 186
  • Relais Moltke Egerner Höfe Graf und Gräfin von Molkte 07
    May 25, 2019 How to live it

    Perfect hosts.

    Hotel business. Owner-managed family hotels often have problems becoming internationally known. Susanne Gräfin von Moltke and Klaus-Dieter von Moltke use the membership in the hotel association Relais & Châteaux for this.
    Mariella Bauer 189
  • Performance sportive
    May 25, 2019 How to live it

    Completely detached.

    Travel. More and more entrepreneurs enjoy the feeling of freedom and independence in a tailor-made motorhome. Beim Trendthema Land-Yachting are the imagination (almost) no limits set.
    Miriam Zerbel 178
  • Default Image
    May 23, 2019 A letter from

    Well meant is not well done.

    A letter from ... Hans-Werner Sinn. The emeritus president of the Munich ifo Institute questions climate policy and the overestimated role of electric cars in achieving climate goals. From an engineering point of view, the turn to the electric car can now be welcomed - it is elegant, robust, has a strong sprint, drives quietly and does not require a complicated gearbox. But: Es cannot be moved without CO2 emissions, as the European legislator claims, if it includes the CO2 emissions of these…
    Hans-Werner Sinn 213
  • Rüdiger Trebels Rückblick 02
    May 23, 2019 How to live it

    Looking back: A lot has happened...

    In the review section, private wealth highlights what has become of the entrepreneurs and investment ideas presented in previous issues. In the current issue, the editorial staff reports on the extraordinary successes of the Internet start-up Westwing and the medical technology company Curetis. The editors also take a second look at the hedge funds of the British Sushil Wadhwani and the American Michael Tiedemann.
    Klaus Meitinger 133
  • Default Image
    Dec 11, 2018 A letter from

    Billionaires move the world forward.

    A letter from ... Caroline Kuhnert is responsible for high net worth individuals at UBS. Sie explains why wealth can have a positive effect far beyond the economy. We've just published our fifth Billionaires Report. Our aim is to contribute to a better understanding of this exclusive group of people. How has their wealth changed? Aber above all: What is the influence of the high-net-worth individuals on our society? And are there regional differences?
    Caroline Kuhnert 246
  • 110 Farming 1
    Dec 11, 2018 How to live it

    Our little farm.

    Plant-it-yourself. The start-up BerlinGreen wants to make the simple cultivation of salads and herbs at home or in the office easy. It thus brings the worldwide trend of urban gardening to Germany. "To fulfill the dream of a house with a garden even in the vicinity of a city is hardly realistic in our generation," says Filip Wawrzyniak, founder of the BerlinGreen start-up, soberly. "The longing to cultivate food himself is, however, still present. That's why we bring the garden into the…
    Antje Annika Singer 612
  • 108 Witten UnternehmerfamilieDigitalisierung
    Dec 11, 2018 How to live it

    The digitized entrepreneur family.

    From the research workshop. Why does digitization become a success story for one family business? Und with the other one she only makes frightening slow progress? The key is in the family. Den Owners, their digital knowledge and skills and especially their inner attitude are of central importance with regard to questions of digital transformation. Tradition, it is said so beautifully, is not the worship of ashes, but the transmission of fire. If tradition and digitalization are to come together…
    Prof. Dr. Tom A. Rüsen, Dr. Anne Katarina Heider 217
  • 102 Williams 1
    Dec 11, 2018 How to live it

    Be brave.

    Civil courage. The activist Jody Williams succeeded, which the United Nations was unable to do, in persuading the international community to renounce landmines. For this she received the Nobel Peace Prize almost 20 years ago. She's been touring the world ever since, shaking people up. Because what she can do, others can do. "Hi, I'm Jody!" The American has a firm handshake. It goes from chair to chair, from row to row. Greet each individual in the auditorium, listener by listener. "Hi, I'm…
    Sabine Holzknecht 222
  • 098 Familiy Office 37918124
    Dec 11, 2018 How to live it

    A new anchor for families.

    Entrepreneur families. After the sale of the family business, sooner or later the question of meaning arises: Wer are we now? Was do we want to be a family in the future? And how can we maintain cohesion? Ein Family Office specialized in Family Equity can provide the answers. "Family Equity is the glue that holds everything together" (partner of a family that runs its Single Family Office (SFO) schon for six generations). "When we launched the most comprehensive single family office survey in…
    Klaus Meitinger 200
  • 092 Uhren 1 In der Schatzkammer des Museums
    Dec 11, 2018 How to live it

    Time for museums.

    Exhibition. The watch industry has always proudly presented its products in its own museums. Recently, a few spectacular new collections have been added to the collection to provide special insights. They are not only worth a trip for watch aficionados.
    Jan Lehmhaus 202
  • 089 MerckFinck 900043422
    Dec 11, 2018 How to live it

    What do you mean, forever?

    Foundation management. Foundations are established on a permanent basis. Trotzdem they often invest as if they only had a short investment horizon. Und therefore have problems in the low-interest phase. Ralf Schwind, Executive Board member of the Merck Finck Foundation, advocates a new way of thinking.
    Sonderveröffentlichung: Merck Finck Privatbankiers 225
  • 082 Gutenberg 4 Bildschirmfoto 2018 12 05 um 14.11.45
    Dec 11, 2018 How to live it

    White gold.

    Adventure. Through the heliski pioneer Leo Steiner, the former gold digger settlement Atlin in the far north of British Columbia became a place of longing for powder snow enthusiasts. But after his son had an accident in a crevasse in 2011, the helicopter remained on the ground. The Swiss André Gutenberg recently revived the legend of Atlin. His heliski area is a very special one: more rustic, wild, lonely and weird than that of the "usual Suspects" in the south of the province.
    Dr. Günter Kast 243
  • 080 Stil 1ByHof Whiskyseminar061
    Dec 11, 2018 How to live it

    Spiritual entertainment.

    To produce a high-percentage digestive yourself is the wonderful conclusion of an evening among friends. Sommelier Andreas hot, owner of the Genuss-Akademie.tirol in Vils, inspires for a special hobby.
    Andreas Heiß 215
  • 073 Matador 1
    Dec 11, 2018 How to invest it

    Second hand, first class.

    Secondary private equity. Because private equity funds have been generating double-digit returns for years, this asset class is finding more and more friends among wealthy investors. But there is still room for improvement. "Used fund shares - Secondary Private Equity - are just as yield-strong and avoid substantial disadvantages of the PE funds , make Florian Dillinger, Matador partner Group AG, clear.
    Sonderveröffentlichung: Matador Partners Group AG 216
  • 077 Argentinien 1 912287996
    Dec 11, 2018 How to invest it

    The dead live longer.

    Investment strategy. The stock market is an indicator of the value of an economy. If this is halved within a year, something serious must have happened. For the third time since the year 2000, Argentina is on the verge of bankruptcy. This was followed twice by a brilliant upswing with price gains for investors of between 300 and 600 percent. Can what worked twice work a third time?
    Gerd Hübner 212
  • 070 Kriton 1 155098840
    Dec 11, 2018 How to invest it

    Truffle hunter.

    Real estate. Prices on the real estate market have been rising massively for the past five years. As a result, yields - so-called cap rates - have fallen in many areas to levels that hardly cover financing and maintenance costs. Is it worth thinking about real estate investments at all now? Klaus Trescher, Kriton Immobilien, says: "Yes - but you have to find the rare occasions."
    Sonderveröffentlichung: Kriton Immobilien GmbH 208
  • 066 Biotec Soluventis 1 487689970
    Dec 11, 2018 How to invest it

    Stop! Stop!

    Medical technology. What would it be like if there were a way to stop disease processes directly in the individual cells and thus possibly end the suffering? The researchers of the newly founded company Soluventis Nanotherapeutics from Bochum have an idea.
    Dr. Ludger Weß 243
  • 064 Pictet 59530238
    Dec 11, 2018 How to invest it

    Smart City - smart system.

    Urbanization. More and more people are moving to the cities. In order for these to remain worth living, extensive investments are necessary. "This will benefit those companies that offer solutions," explains Ivo Weinöhrl, fund manager at Pictet Bank.
    Sonderveröffentlichung: Pictet & Cie (Europe) S.A. 189
  • 062 Robeco 852000444
    Dec 11, 2018 How to invest it

    Beautiful new financial world.

    FinTech. Many industries have already been turned upside down by digitisation. Patrick Lemmens and Jeroen van Oerle are convinced that it is now the turn of the financial industry to Robeco. They identify winners and losers.
    Sonderveröffentlichung: Robeco Deutschland 207
  • 060 Megatrends
    Dec 11, 2018 How to live it

    The Megatrend Megatrends.

    Investment strategy. Megatrends are fascinating as an investment idea because the respective story sounds so convincing. In order for this to actually become a successful investment, however, a number of rules must be observed.
    Sonia Marin 251
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    Dec 11, 2018 How to live it

    Share bull market: Is the extension coming into effect?

    Stock trend. The current stock market boom has lasted almost ten years. Over the past five decades, there have been few bull markets with even better performance. Are the recent price declines signaling the beginning of the end of the stock market upswing? Timo Schwietering, capital market strategist in Private Banking at Bankhaus Metzler, has good reasons not to announce a turnaround yet.
    Sonderveröffentlichung: B.Metzler seel. Sohn & Co 180
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    Dec 11, 2018 How to invest it

    Let's have a look.

    Panel of experts. The uncertainty on the capital markets is greater than ever before. Investors urgently need orientation. The Lerbach round gives answers to the ten most important questions zum Jahreswechsel - from stock allocation to customs disputes.
    Klaus Meitinger 226
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    Dec 11, 2018 How to invest it

    Who comes too early, ...

    Emerging market equities were among the losers in 2018, and according to Paul Greer, Fidelity, they will continue to struggle in the coming months at mit Gegenwind . Investors should keep their powder dry.
    Paul Greer 182
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    Dec 11, 2018 How to invest it

    If not now, when?

    Emerging market equities are now very attractive after the sometimes sharp price declines, says Michael Keppler of Keppler Asset Management Inc. New York. Now is a good time to invest.
    Silke Lauenstein 211
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    Dec 11, 2018 How to earn it

    New 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 of LIDE Germany: "The challenges are great and the implementation of the necessary reforms will be decisive for the country's future. The big question now is: Kann Bolsonaro also supply?"
    Sonderveröffentlichung: LIDE Deutschland GmbH 281
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    Dec 11, 2018 How to earn it

    The 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 years, we will enter a completely different dimension," says CEO Nicolas Schweizer, making it clear: "The construction of a new factory in China will enable us to almost quadruple sales to 500 million dollars in this period.
    Yvonne Döbler 348
  • 030 Paravan 1 HH 151209 0565
    Dec 11, 2018 How to earn it

    From the niche into the world.

    Entrepreneurship. Six years ago, private wealth had told the fascinating story of Roland Arnold, a passionate family entrepreneur. His motivation was to restore mobility and independence to people with disabilities. Now Arnold has sold his technology. In exchange for an even greater vision.
    Miriam Zerbel 253
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    Dec 11, 2018 How to earn it

    The survivor.

    Innovation. Over the past 30 years, NorCom has had to overcome many difficult situations. But every time, founder Viggo Nordbakk succeeded in reinventing his company. Now he wants to shake up the automobile market with Big Data software.
    Gerd Hübner 245
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    Dec 11, 2018 How to earn it

    Art. Dope.

    Revolution. Within a few years, two Italians turned an idea into a company worth billions. And could thus solve one of the most urgent problems of the present.
    Sabine Holzknecht 319
  • 010 Opinionleader Herausforderung Energiewende
    Dec 11, 2018 Opinionleader

    The future of the energy revolution.

    "The energy revolution is a huge challenge," explains Martin Faulstich, until 2016 Chairman of the German Advisory Council on the Environment: "But it also represents a huge opportunity for our industry.
    Martin Faulstich 295
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    Dec 11, 2018 Editorials

    Der Bär rages under the radar.

    There is only one topic in the financial community at the moment: Has the global upswing in stock prices that has lasted since 2009 come to an end and will we have to adjust to falling prices, a bear market, in the future? However, this discussion always relates to the major indices. Wer takes a closer look, it recognizes that the bear has already struck in large parts of the market long ago. The share prices of dozens of well-known companies are 40 to 60 percent below their highs at…
    Klaus Meitinger 169
  • unterschrift-km
    Oct 02, 2018 Editorials

    Turn of time.

    while everyone's worried about the Atlantic, disaster threatens our own front door. It's about the euro. When Germany agreed to monetary union, the rules were clearly defined. No Member State is liable for the liabilities of the other. The central bank is prohibited from directly acquiring government bonds. And they all commit themselves to respecting deficit limits.
    Klaus Meitinger & Moritz Eckes 230
  • unterschrift-km
    Oct 02, 2018 Editorials

    More private wealth - exclusively for you.

    The current issue of "How to invest it" focuses on our annual meeting with the Lerbacher Runde. An exclusive circle of bankers, family officers, asset managers and economists will discuss the perspectives for the economy, monetary policy and capital markets intensively for one day. Carefully balances opportunities and risks. And then defines a suitable, long-term investment strategy for wealthy private investors. True to our motto: Every private wealth story must be conceived in such a way that…
    Klaus Meitinger & Moritz Eckes 191
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    Oct 02, 2018 Editorials

    The high-noon moment.

    Dear Ladies and Gentlemen, Dear Readers, there are situations where these old film frames appear. From second hands that sneak slowly but relentlessly in the direction of twelve o'clock. Where everyone knows that soon, very soon something important has to decide. The next year has a high-noon moment like this in store. The focus is on Europe. For a long time it looked as if the economy in Euroland would get its act together. For a few months now, however, the leading indicators have been…
    Klaus Meitinger & Moritz Eckes 215
  • unterschrift-km
    Oct 02, 2018 Editorials

    Between utopia and dystopia.

    a message had caught our attention: "First equity fund to be 100 percent controlled by artificial intelligence." After researching the story on page 72, we sensed that this could be the big thing of the coming decades. The development of the AI runs on an exponential curve - it goes steeply and quickly upwards as soon as it has passed a critical point.
    Klaus Meitinger & Moritz Eckes 186
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    Oct 02, 2018 Editorials

    By reasonable and unreasonable investors.

    Dear Readers, What is the most important aspect of an investment decision for you? Welch a question, you may now say: der price, of course, and associated with it the expected return. In recent years, a very special class von Anlegern has become increasingly important. They are investors who are completely or at least quite indifferent to price and yield;
    Klaus Meitinger & Moritz Eckes 225
  • unterschrift-km
    Oct 02, 2018 Editorials

    The Minsky moment.

    The US scientist Hyman P. Minsky, who died in 1996, became known for his theses on the sudden crisis despite a booming economy. The idea: the longer the economy runs, the more likely it is that banks, companies, consumers and investors will lose their sense of risk. They change their investment strategy and plunge into ever more daring financing. The financial markets are running hot, optimistic statements are making the rounds: "There is no longer any economic cycle. Interest rates will never…
    Klaus Meitinger & Moritz Eckes 241
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    Oct 02, 2018 Editorials

    On the fag end.

    With every weaker growth figure and every negative news from the corporate sector, more and more investors are beginning to think the seemingly unthinkable. Can it really be that the world is facing another recession?
    Klaus Meitinger & Moritz Eckes 229
  • unterschrift-km
    Oct 02, 2018 Editorials

    The situation is getting worse.

    the biggest economic policy experiment of all time is entering the next round. In phase one, more than 700 interest rate cuts and billions of bond purchases have pushed yields in all asset classes and pushed their prices up, but one aspect has been overlooked by investors.
    Klaus Meeting und Moritz Eckes 192
  • unterschrift-km
    Oct 02, 2018 Editorials

    Ten years of private wealth.

    Dear Readers, After the New Economy disaster at the beginning of this millennium, we often talked in family circles about how helpful it would be if there was an information medium that explains intelligent investment strategies in a comprehensible way. That warns us in time if there is a real threat on the markets. And that enables us to learn from the best entrepreneurs. It was about inspiration and orientation. Alone - this medium did not exist. So we decided to do it ourselves.
    Klaus Meitinger & Moritz Eckes 188
  • unterschrift-km
    Oct 02, 2018 Editorials

    The justice debate.

    Germany is in the middle of a boom. Corporate profits, wages and incomes are on the rise. Nevertheless, negative headlines dominate. Only wealthy people would benefit from the upswing. That was unfair and had to be changed.
    Klaus Meitinger und Moritz Eckes 205
  • unterschrift-km
    Oct 02, 2018 Editorials

    It comes to an oath.

    Germany has a choice. And thanks to Big Data, the parties now know exactly what promises they can make to their target customers. It is disappointing that the most important questions in the long term do not play a major role.
    Klaus Meitinger und Moritz Eckes 192
  • unterschrift-km
    Oct 02, 2018 Editorials

    We're out of here.

    Our own stock market indicator delivered a sell signal at the end of February. As you know, this is not about forecasting trend reversals on the stock markets exactly. We only try to find out when the relationship between opportunity and risk changes when investing in equities. The logic: If stocks are valued low and the economic trend improves, there is a high probability that the stock market will develop positively in the long term. If, on the other hand, equities are expensive and economic…
    Klaus Meitinger 148
  • unterschrift-km
    Oct 02, 2018 Editorials

    The story rhymes.

    The interest rate policy of the US Federal Reserve has again moved into focus. After all, the well-being and woe of the global economy and capital markets depends on interest rates not being raised significantly. Is that really the case?
    Klaus Meitinger & Moritz Eckes 182
  • unterschrift-km
    Oct 02, 2018 Editorials

    Issue June 2014: Bubble, Bubble.

    Ladies and Gentlemen, Dear Readers, The European Central Bank will probably step on the gas in the coming weeks in terms of monetary policy. Because growth in Euroland as a whole is too low, the inflation rate too low and the Euro exchange rate too high, Mario Draghi thinks about a further interest rate cut and/or the purchase of bonds. The analysts at Morgan Stanley have already calculated what a one-trillion-euro purchase program, for example, would bring. Their result: even lower interest…
    Thomas Müller 182
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    Oct 02, 2018 A letter from

    Everyone has to be able to participate.

    A letter from ... Professor Marcel Fratzscher. The head of the DIW sees the current justice debate as misguided and calls for an inclusive social market economy. "Time for Justice" was the motto of Martin Schulz's election campaign. In a country where 70 per cent of people feel that inequality is too high, this slogan may catch fire. I still think: Wir need a debate that goes beyond justice.
    Prof. Marcel Fratzscher 286
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    Oct 02, 2018 A letter from

    Protective layers.

    A letter from ... Dr. Walther Michl. The Academic Council at the Chair of Public Law and European Law at LMU München has placed the refugee crisis within the current legal framework. In the public discussion on the refugee problem, the call for a "return to the law" is repeatedly voiced - often combined with the demand for the closure of borders.
    Dr. Walther Michl 309
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    Oct 02, 2018 A letter from

    Become wiser.

    A letter from ... Bernd Kolb, who founded the Club of Marrakesh to give impulses for a better world. Because the effect was not strong enough for him, he is now breaking new ground. Our western world is a wonderful place that makes many things possible: a life in peace and prosperity, without existential worries, with a rich culture and sufficient space for the individual shaping of one's own life. Actually, everything's fine. Didn't I?
    Bernd Kolb 270
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    Oct 02, 2018 A letter from

    "Is passive investing really better than active investing?"

    A letter from... Camille Thommes. The Director General of the Association of the Luxembourg Fund Industry (ALFI) warns against blanket judgments. The European Commission recently published a paper arguing that private investors are best served by passive investment funds. These are more cost-effective, more broadly diversified and offer higher long-term performance than active funds.
    Camille Thommes 292
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    Oct 02, 2018 A letter from

    Greek tragedy.

    Jochen Felsenheimer is Managing Director of XAIA Investment and reflects on the long-term consequences of the policy change in Greece. Everywhere on the markets there is wild speculation about the effects the shift to the left in Greece might have on the European financial markets. And it's not that hard to judge. After all, the economic facts have been known for several years.
    Jochen Felsenheimer 294
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    Oct 02, 2018 A letter from

    "I'm worried already."

    A letter from ... Wolfgang Bosbach. The controversial member of the Bundestag reflects on politics, Europe and the social performance of our country. After the election, I leave the Bundestag and am therefore often asked what the three points are that most concern me at this crossroads of my life;
    Wolfgang Bosbach 291
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    Oct 02, 2018 A letter from

    The end of sound fiscal policy.

    A letter from... Christian Jasperneite; The chief strategist von M.M. Warburg & Co. warns that dubious budgetary policies in Europe are taking the Central Bank hostage.
    Christian Jasperneite 326
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    Oct 02, 2018 A letter from

    Economy and honor!

    A letter from ... Rudolf X. Ruter. The sustainability and corporate governance expert is convinced that credibility and reputation are the currency of our future. Despite the misconduct at Volkswagen, Deutsche Bank and DFB/Fifa (to name just three concrete names), which is currently much discussed in Germany, I am convinced that respectability is still widespread in the German economy. More and more and especially younger managers are committing themselves to a clear sense and value orientation…
    Rudolf X. Ruter. 247
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    Oct 02, 2018 A letter from

    Can bio-science save the world?

    A letter from... Prof. Dr. Michael John Gorman. The founding director of BIOTOPIA - Naturkundemuseum Bayern is considering how we can meet the big questions of the 21st century.
    Prof. Dr. Michael John Gorman 246
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    Oct 02, 2018 A letter from

    End game.

    Swiss biologist and environmentalist Claude Martin calls for a global strategy to reverse the fate of tropical rainforests. I don't remember ever meeting people who didn't care about the future of tropical rainforests. Whether scientists, entrepreneurs or politicians, everyone affirms how important this topic is.
    Claude Martin 190
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    Oct 02, 2018 A letter from

    Prosperity for all.

    A letter from ... Manfred Wittenstein, Chairman of the Supervisory Board of Wittenstein AG. He trusts that engineers will contribute to a better world. We're fine. We're fine. We here in Germany are fortunate to be born in a region that is not struck by natural disasters that threaten its very existence, where wars do not destroy entire villages and cities, where almost everyone has a roof over their heads and gets enough to eat. How do we deal with this gift of happiness? Shall we defend it…
    Camille Thommes 214
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    Oct 02, 2018 A letter from

    Art and Economy.

    Prof. Dr. h. c. mult. Reinhold Würth, the entrepreneur, art patron and chairman of the Supervisory Board of the Würth Group, is convinced that art increases motivation within the company. I've built up a global trading company for assembly materials and tools with 65,000 employees and a turnover of ten billion euros. Since our foundation by my father in 1945, we have recorded average annual growth rates of 22 percent. That makes me a little proud. But also humble. I could never have done it…
    Prof. Dr. h. c. mult. Reinhold Würth 185
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    Oct 01, 2018 Opinionleader

    "Now it's enough."

    The economist Peter Bofinger has always defended the monetary policy of the ECB. Why Mario Draghi did (almost) everything right, but should now step on the brakes, Bofinger discusses with the Lerbach round.
    Dr. Peter Bofinger 325
  • Oct 01, 2018 Opinionleader

    Entrepreneurs must act now.

    Many companies in Germany are facing huge challenges. "Our scenario analysis shows how decision-makers must act now so that 'made in Germany' remains a leader," informs Florian Klein, Deloitte.
    Florian Klein 308
  • Oct 01, 2018 Opinionleader

    How families solve conflicts.

    From the research workshop. Entrepreneur families create rules and statutes that regulate life together, especially in responsibility for the company. In addition to agreeing and respecting specific formal rules, it is important that entrepreneurial families know and take into account the foundations that shape all social systems.
    Sonderveröffentlichung: Professor Dr. Heiko Kleve (Wittener Institut für Familienunternehmen) 312
  • Oct 01, 2018 Opinionleader

    "The cobalt boom is justified."

    "The high prices for cobalt and lithium reflect the current supply-demand situation," says Abid Mukhtar of Commodity Capital. "It's still worth getting started." I already know what most people think: the recent dramatic price increases for lithium and cobalt are exaggerated. This is a hype, a speculative bubble that is fundamentally unjustified. Prices will soon collapse again and it is therefore better to wait for cheaper entry prices;
    Abi Mukhta 313
  • Oct 01, 2018 Opinionleader

    "It's a cobalt hype."

    "The prices for cobalt and lithium are currently significantly exaggerated. Viele Suppliers want to make a fast euro with the E-Auto-Story", warns Christoph Eibl, Tiberius Asset Management: "Don't let yourself be seduced". One thing I have to say in advance. I am convinced that we will see higher long-term prices for strategic metals, which are important for a new energy mix. Wenn Sie therefore have five to ten years time, kaufen Sie calmly cobalt or lithium. <font…
    Christoph Eibl 353
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    Oct 01, 2018 Opinionleader

    Museums must reinvent themselves.

    Should there be free admission to state museums or not? Florian Mercker, private-wealth art expert, uses the current discussion as an impetus to think about concepts for the museum of the future. In Germany, the abolition of entrance fees to state museums is discussed at regular intervals. Reflexively, those who have no money of their own - general directors, politicians, administrators - conjure up the death of the West. The entrance fees are indispensable to keep the administration running.…
    Dr. Florian Mercker 303
  • Oct 01, 2018 Opinionleader

    Complicated new world.

    Richard Smith-Bingham, Director EMEA of the Global Risk Center at Marsh & McLennan, believes companies need to prepare for disruptive change. It is my job to help companies and entrepreneurs identify critical risk factors for their business. However, the revolutionary political and technological changes that are currently taking place make me sceptical about the appropriateness of the euphoria that is currently driving stock market prices higher. In my view, global companies in particular will…
    Richard Smith-Bingham 273
  • Oct 01, 2018 Opinionleader

    No end of the boom in sight.

    "In the German metropolises, demand for living space will exceed supply for even longer," says Jochen Möbert of Deutsche Bank: "House prices will therefore continue to rise. I can understand that many are sceptical about the years of real estate boom in this country. Above all, because residential construction is actually growing strongly. The number of building permits finally rose last year to 375,000, an increase of 20 percent on the previous year and the highest level since 1999. And…
    Jochen Möbert 250
  • Oct 01, 2018 Opinionleader

    "The trend in purchase prices is breaking."

    "The prices for condominiums are no longer in any meaningful relation to the framework conditions. Those who invest risk their equity", warns Harald Simons, Empirica AG, member of the Council of Real Estate Experts. The industry is currently discussing above all a possible rise in interest rates as a risk to real estate prices. It overlooks the fact that the interplay between supply and demand for housing may also lead to such a break in the trend.
    Harald Simons 219
  • Oct 01, 2018 Opinionleader

    Inflation is coming back.

    The price increases of recent months are not a temporary phenomenon, meint Peter E. Huber, Vorstand of asset manager StarCapital: "They mark the beginning of a new era". After 35 years of disinflationary tendencies nobody believes in a real comeback of inflation anymore. In my opinion, this will be the biggest surprise of the coming years.
    Peter E. Huber 219
  • Oct 01, 2018 Opinionleader

    "The worst is yet to come."

    Uwe Eilers, Geneon Wealth Management, is convinced that leaving the EU will damage Britain's economy in the long term. "Keep your hands off British assets." I am well aware that it is not easy to argue against the current economic data. After all, the big slump in the British economy, which many had expected after the British Yes to Brexit, failed to materialise. On the contrary, the British stock market has performed very well. And many economists are currently revising their forecasts for…
    Uwe Eilers 214
  • Oct 01, 2018 Opinionleader

    Brexit risks are overestimated.

    The pound depreciated significantly after the Brexit decision. "This will stimulate the economy," says Christian Jasperneite, M.M. Warburg: "British assets offer positive surprise potential." Have you followed the current forecasts of economists on developments in Great Britain? Then you've probably noticed that most analysts have started to raise their expectations for economic growth on the island. In fact, three months ago they were still assuming a meagre increase of 0.9 percent for the…
    Christian Jasperneite 177
  • Oct 01, 2018 Opinionleader

    The real D.J. Trump.

    What will really change in the World Concert under a US President Donald J. Trump? Seit of the election, countless scientists, economists, analysts and political scientists have commented - private wealth summarizes their opinions. In the Anglo-Saxon world, there is a hübschen Spruch if a person is to concretize their position or reveal their true character: "Will the real Donald Trump please stand up." Before the US election, commentators outbid each other with negative forecasts in case Trump…
    Klaus Meitinger 165
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    Oct 01, 2018 Opinionleader

    The economist with a mission.

    Appreciation. Hans-Werner Sinn's terms of office as President of the ifo Institute and Professor at the LMU Munich will end on 31 March. Eine of the most influential voices of science in the economic policy debate is leaving the big stage. "I want to bring rationality into the public debate," is how Hans-Werner Sinn describes his motivation. His arguments are like genes in the public discourse, which spread inexorably once they have been presented.
    Klaus Meitinger 179
  • 008 Opinionleader Sicher ist nur die Unsicherheit
    Oct 01, 2018 Opinionleader

    What's certain is insecurity.

    Refugee crisis, IS, Ukraine, Brexit - we are living in a time of crisis in geopolitics. Markus Kaim, Stiftung Wissenschaft und Politik, explains why this will continue to be the case in the future. Even earlier generations did not live on the island of the blessed. And yet there is a remarkable difference between yesterday and today. The established orders with which we were politically socialized have become fragile. Above all, however, these introduced orders have not (yet) been replaced by…
    Markus Kaim 181
  • 010 Opinionleader WeltAusserKontrolle
    Oct 01, 2018 Opinionleader

    Global economy facing loss of control.

    Global economy facing loss of control. According to Professor Henning Vöpel, Managing Director of the Hamburg Institute of International Economics, the world is looking for a new order: "But the road to it can be long and very difficult.
    Professor Henning Vöpel 201
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    Oct 01, 2018 Opinionleader

    The European crisis as an opportunity.

    Andreas Rödder 171
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    Sep 30, 2018 How to invest it

    A question of control.

    CEOs in family businesses. Der CEO ist the most important decision maker in the company. More and more family businesses are deciding to fill this position externally as part of the succession process. Wie the family then organizes the collaboration to minimize um Konflikte? Bankhaus Merck Finck supports WHU in Vallendar with a junior professorship to answer such questions.
    Sonderveröffentlichung: Merck Finck Privatbankiers 254
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    Sep 30, 2018 How to invest it

    Ingenious change to the building plan

    Genome editing. After half a century of molecular biological research, scientists can now make precise and targeted interventions in the genetic material of plants, animals and humans. What does this mean for the biotech industry? And how do investors benefit?
    Dr. Ludger Weß 210
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    Sep 30, 2018 How to invest it

    Return of returns.

    Interest rate trend. The decisive factor behind the declining interest rates of recent decades was a factor that was often hardly noticed - the ageing of society. If the so-called baby boomers retire from working life in the future, the glut of savings in recent years could turn into a savings squeeze. Then interest rates should tend to rise again - with considerable effects on capital investments.
    Sonderveröffentlichung: B. Metzler seel. Sohn & Co. 235
  • Lerbach Bahn
    Sep 30, 2018 How to earn it

    On the wrong track.

    Future risks. The dissatisfaction of considerable sections of the population gave a boost to populist currents in the Western world. The Lerbach Round discusses what consequences this could have for the long-term growth path of the economy, the European Union and ultimately also for the capital markets. And is considering how wealthy private investors should adjust their investment strategy.
    Gerd Hübner 270
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    Sep 30, 2018 How to invest it

    At the top.

    Business cycle. After the strong upswing of the past two years, global economic growth appears to have peaked. Is the crash following now? How likely is a recession? And how are the inflation rates, which are regarded as the decisive influencing factor for central bank policy, developing? The Lerbach Round takes a close look at the world of business from the investor's perspective.
    Klaus Meitinger 201
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    Sep 30, 2018 How to invest it

    Cock closed.

    Monetary policy. With flows of liquidity and zero interest rates, the central banks have stimulated the economy and capital markets. Now they pull the reins slowly, but surely again. What impact will this have on the prices of the various assets?
    Gerd Hübner 215
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    Sep 30, 2018 How to invest it

    The Lerbach Round.

    Panel of experts. The Lerbach group - bankers, asset managers and family officers - meet every early summer in Schloss Bensberg to provide investors with inspiration and orientation. In 2018 the meeting will be particularly explosive. After zehn Jahren upswing and low interest rate, monetary policy and economy seem to be on einem Wendepunkt. What happens now on the interest rate and stock markets?
    Klaus Meitinger 195
  • Sep 30, 2018 How to invest it

    "The party's over."

    "There were good fundamental reasons for the correction on the equity markets," explains Roland Kaloyan, Head of European Equity Strategy at Société Générale. "Prices could fall further until the end of 2019."
    Roland Kaloyan 206
  • Sep 30, 2018 How to invest it

    "The party goes on."

    "The turbulence of February was a correction, not a turnaround," says Carsten Klude, chief strategist at M.M.Warburg, "our traffic lights are still at auf Grün. Stock prices will continue to rise."
    Carsten Klude 224
  • Sep 30, 2018 How to invest it

    I'll pay. You're looking. You'll find We win.

    Investment idea. From the US, an investment alternative is coming to Europe that is perfect for entrepreneurial investors. The participation in Search Funds paves the way for direct investments in the most interesting medium-sized companies.
    Klaus Meitinger 249
  • Sep 30, 2018 How to invest it

    The race to catch up continues.

    Investment strategy. Emerging market equities were already last year's winners. However, because the shares there are still relatively cheaply valued, it is interesting to further increase the positions.
    Klaus Meitinger 242
  • Sep 30, 2018 How to invest it

    "We want to make a difference."

    Responsible investing. Sustainability in financial investments has long ceased to be a niche issue. As demand grows, so does the demand from investors for implementation. Pictet Bank's Wealth Management has therefore developed a system that enables it to meet the individual values of its clients.
    Sonderveröffentlichung: Pictet & Cie (Europe) S.A. 181
  • Sep 30, 2018 How to invest it

    Added value through finetuning.

    Investment concepts. Strictly passive index investments have advantages and disadvantages.More and more investors are asking Darum whether it is not possible to avoid negativen Aspekte without having to forego the positive ones. This idea follows the concept of Enhanced Indexing.
    Sonderveröffentlichung: Robeco Deutschland 139
  • Sep 30, 2018 How to invest it

    When investors insure.

    Investment strategies. More and more investors are using cat bonds to diversify their portfolios. These securities function similarly to an insurance policy against natural hazards and are intended to generate interesting long-term returns independent of the capital markets. In 2017, however, the large number of natural catastrophes put prices under pressure. A warning signal? Or a chance?
    Gerd Hübner 205
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    Sep 30, 2018 How to invest it

    Art as a multi-channel business.

    Trade fairs, gallery owners and auction houses are closely interlinked in the art trade. "Each of these channels has its specific challenge - and collectors benefit," explains private-wealth art expert Florian Mercker.
    Florian Mercker 199
  • Sep 30, 2018 How to invest it

    Miniature marvels.

    Automaton. More than 150 years ago, talented mechanics began to recreate living beings in artistic automatons. These songbirds, humans and dogs master the most complicated movements and patterns. However, their performance only knows one direction - upwards.
    Jan Lehmhaus 253
  • Sep 30, 2018 How to invest it

    "An art fair is not an amusement park."

    Art fair TEFAF. Patrick van Maris has made a name for himself at Sotheby's auction house. Since 2015 he has been CEO of TEFAF, which will take place from 10 to 18 March in Maastricht. The fair has long been known for its concentration on old masters and antiques. How does he succeed in opening up to a wider range of styles? And how is he preparing for the collectors of the future?
    Anna Meinecke 193
  • Sep 30, 2018 How to invest it

    "We stiften Stiftungen."

    Philanthropy. With a sub-foundation to the Merck Finck Foundation, people oriented toward the common good can achieve everything that would be possible in a legally independent foundation - only easier, cheaper and more efficient. A very special model.
    Sonderveröffentlichung: Merck Finck Privatbankiers 158
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    Sep 30, 2018 How to invest it

    "Bitcoin course will rise for a long time to come."

    Some crypto currencies will establish themselves as means of payment in the long run, says Uwe Zimmer of Fundamental Capital. "An investment in the leading digital computing units is therefore worthwhile."
    Uwe Zimmer 163
  • 046 pw bitcoinglas 3 a
    Sep 30, 2018 How to invest it

    "This is a bubble of speculation."

    "Bitcoin, Ethereum & Co. will never become widely accepted currencies," warns Maximilian Kunkel, chief investment strategist in the UBS Chief Investment Office for Germany: "Leave it alone."
    Maximilian Kunkel 150
  • 050 Besser gehts nicht
    Sep 30, 2018 How to invest it

    Dangers? Where are the dangers?

    Stock markets. The world economy is booming. Corporate profits are bubbling up. Interest rates are low. And the stock markets are celebrating records. Investors currently obviously live in the best of all worlds. Can it stay that way? Or are there hidden dangers? Experience shows that when superlatives are the order of the day, it is high time to talk about the risks.
    Klaus Meitinger 150
  • 054 Pictet 76745298
    Sep 30, 2018 How to invest it

    That's the defense.

    Risk management. We live in the best of all worlds. Growth and, at the same time, ultra-low interest rates are causing prices to rise. But this also increases the risks. "It's like football - we have to be sure at the back to take advantage of the opportunities," smiles Armin Eiche, CEO Wealth Management Germany at private bank Pictet. It shows how investors keep risk under control.
    Sonderveröffentlichung: Pictet & Cie (Europe) S.A. 156
  • 056 Zagst 20171115 DSF8699 2
    Sep 30, 2018 How to invest it

    Cool guys.

    Stock market barometer. Six years ago, Professor Rudi Zagst of the Technical University of Munich (left) developed a scientific model that measures the probability of stock market turbulence. Together with the evil professional Oliver Schlick, he is now working on transferring the information into an investment model. Science meets financial experience - the two of them could not have chosen a better moment for it.
    Klaus Meitinger 184
  • 060 Klima 647607282
    Sep 30, 2018 How to invest it

    The environment becomes more valuable.

    Investment idea. If Europe wants to reach seine Klimaziele, it must reform the market for CO2 emission certificates. First steps have been taken. If the prices for these pollution rights rise in the future, financial investors will also benefit.
    Klaus Meitinger 169
  • 063 Metzler 659586246
    Sep 30, 2018 How to invest it

    Europe and the Causa Italia.

    Euro. The ECB's monetary policy has recently pushed Italy's debt problems into the background. "But what will happen if the central bank now starts den Ausstieg from ultra-expansive politics?" asks Timo Schwietering, Head of Capital Market Analysis, Metzler Private Banking.
    Sonderveröffentlichung: B. Metzler seel. Sohn & Co. 148
  • 066 Schenkung Investmentfonds
    Sep 30, 2018 How to invest it

    Intelligent gifts.

    Gift. From 1 January 2018, new rules will apply to the taxation of investment funds' capital gains. Anyone who bought equity funds before 01.01.2009 can now use these so-called old funds for a particularly lucrative Christmas present.
    Klaus Meitinger 191
  • 068 Private Debt 304072
    Sep 30, 2018 How to invest it

    Close the gap.

    Private Debt. Since the financial crisis, banks have been increasingly withdrawing from lending to companies. But of course they will also need financial resources in the future. The solution to the problem is Private Debt - corporate financing through a loan from private investors. This can be very lucrative for investors. This is because private debt has attractive interest rates and attractive conditions.
    Gerd Hübner 201
  • 071 Robeco 155387711
    Sep 30, 2018 How to invest it

    Keep looking ahead.

    Prognosis. "Strategic investing means eliminating daily noise and focusing on the key structural trends," says Lukas Daalder, CIO bei Robeco Investment Solutions. That's why he dares a five-year outlook.
    Sonderveröffentlichung: Robeco Deutschland 190
  • 074 Dauphin philippwente Sammlung Dauphin W2 0086
    Sep 30, 2018 How to invest it

    The history of the automobile.

    Oldtimer collection. In a former factory building in Hersbruck, Franconia, the Dauphin family created a unique place of communication and a noble event location. A place of amazement, enjoyment and dreaming: the Dauphin Speed Event houses an outstanding collection of 160 precious automobiles and 300 motorcycles.
    Philipp Wente 229
  • Default Image
    Sep 30, 2018 How to invest it

    Careful, hacker.

    Cybercrime doesn't stop at the art trade either. Florian Mercker, private-wealth art expert, explains the methods used by criminals and how collectors and gallery owners can protect themselves.
    Dr. Florian Meckre 132
  • Sep 30, 2018 How to earn it

    "Where we are is up."

    Record player. Jochen Räke sells a product that should no longer exist in the digital world. But because his record players are among the best and most beautiful in the world - and serve the growing desire for concentration and deceleration - his company Transrotor is growing. It also offers the son Dirk a brilliant perspective. On 8 March 1979, Philips, the electronics giant, presented its Compact Disc prototype to selected trade journalists. Only three years earlier Jochen Räke had introduced…
    Philipp Wente 275
  • Sep 30, 2018 How to earn it

    The dealer scare.

    Bicycles. Canyon Bicycles GmbH from Koblenz is the most successful direct seller of high-quality bicycles - not only in Germany, but throughout Europe. Now company founder Roman Arnold wants to conquer the US market with his special business model. No matter what the future holds: Roman Arnold will probably remember the years 2015 and 2016 even when he retires. At first, things didn't run smoothly in the new production hall, which cost 20 million euros. The bikes arrived at the customers too…
    Günter Kast 254
  • Sep 30, 2018 How to earn it

    With the wind.

    Boat builder. Constructing a boat is a big entrepreneurial risk for a small company. Development work consumes a lot of time and capital. And success is uncertain. For master boat builder Markus Glas it has already been worth it once. Now he's trying again. "In principle, every boat we have developed has always had something to do with the period of my life," says Markus Glas: "Actually, I build boats from the target group for the target group".
    Yvonne Döbler 230
  • Sep 30, 2018 How to earn it

    The down-to-earth.

    Hidden champion. Being economically successful is not always easy, even for a globally operating electrical engineering supplier. In a family business, the difficult task of reconciling the representatives of the various family tribes and generations comes under one roof. Daniel Hager, CEO of the Hager Group, has found solutions to both challenges. Daniel Hager laughs briefly when confronted with the well-known statement that the family is the greatest advantage of a family business, but also…
    Mariella Bauer-Hallberg 245
  • Sep 30, 2018 How to earn it

    A city emerges.

    Real estate development. In the east of Munich, a city grows within a city. The plant district comprises 38 hectares, 600,000 square meters of floor space, 1,000 apartments and 300,000 square meters of new construction. Three and a half years ago Werner Eckart (right), initiator and visionary head of the construction project, presented his plans in private wealth (04/13). Now the head of the Pfanni dynasty has landed a special coup.
    Antje Annika Singer 246
  • Sep 30, 2018 How to earn it

    Guardian of the Legacy.

    Succession. Magdalena Messner, 29, has been the administrator and majority shareholder of the Messner Mountain Museums since the beginning of the year. She wants to be perceived not only as the daughter of the famous mountaineer, but also as an entrepreneur with her own ideas.
    Dr. Günter Kast 333
  • Sep 30, 2018 How to earn it

    "Hi Simone, your plant needs potassium."

    Innovation. Almost a third of the annual harvests on our planet fall victim to plant diseases and pests. The consequences are fatal: famine, impoverished farmers on the one hand, expansion of cultivated areas and increased use of pesticides on the other. Simone and Robert Strey want to change that.
    Dr. Ludger Wess 230
  • Sep 30, 2018 How to earn it

    Two of the same wood.

    Management buy-out. When Georg Emprechtinger joined the Austrian furniture manufacturer Team 7 in 1999, the company had a regional brand but also a sales problem. Today Emprechtinger sells its solid wood furniture worldwide. Turnover increased from 30 to 90 million euros. A success story that stood on knife edge several times.
    Mariella Bauer-Hallberg 238
  • Sep 30, 2018 How to earn it

    The colourful world of Sebastian S.

    Family business. The company name - Schwan-Stabilo - is familiar to everyone who has used a highlighter before. However, the majority of the company's turnover is generated with products under a foreign name. Sebastian Schwanhäußer does things a little differently - and not only has to convince the market, but also 42 partners.
    Sabine Holzknecht 252
  • Sep 30, 2018 How to earn it

    Some like it hot.

    Expansion strategy. In the early 1990s, the sauna and steam bath manufacturer Klafs went bankrupt. Then came Stefan Schöllhammer and turned the case into a hidden champion with a turnover of 100 million euros. Now an even greater entrepreneurial challenge awaits the co-owner and managing director. The core market - sauna - is declining in Germany. How can a company grow in shrinking markets? Stefan Schöllhammer's paradise lies in China. 1.4 billion Chinese, a huge market. "Even small target…
    Mariella Bauer-Hallberg 243
  • Sep 30, 2018 How to earn it

    The company is always at the table.

    Hidden champion. How does it actually work to form a world market leader out of nothing? How does an entrepreneur organize growth from twelve to 750 employees? And how can this social structure then be handed over in a good way and completely into the hands of its successor? Helmut F. Schreiner has found his answers. Flooded with sunlight and completely in white, the large attic studio of the single-family house is in Munich's bourgeois residential area. It serves as a conference room for the…
    Yvonne Döbler 205
  • Sep 30, 2018 How to earn it

    Just the sea, the sun - and us.

    <font color="#ffff00">-=Alternative Energien=- sync:ßÇÈâÈâ Michael Köhler and his wife Heike (top right) are passionate sailors. But they were tired of being dependent on a diesel engine during calm periods. Their solution: an electric motor driven by solar cells. Today her company Solarwave is the most important supplier of solar yachts. Whenever their time permitted, the Carinthian lawyer Michael Köhler and his wife Heike were on the move on the nearby Adriatic. They covered about 30000…
    Dr. Günter Kast 221
  • Sep 30, 2018 How to earn it

    Put that old iron away.

    Start-up. Horses have been shoed with horseshoes for more than 1000 years - in the age of high technology this alone is a little anachronistic. In fact, it even damages the health of the horses. A team of young founders - all of them no riders themselves - has now developed an alternative.
    Dr. Ludger Wess 169
  • Sep 30, 2018 How to earn it

    "We can also do electromobility."

    Electric vehicles. The automotive industry is facing the greatest upheaval in its history. The Swabian automotive supplier ElringKlinger is right in the middle of this. Ten years ago, Stefan Wolf (right), Chairman of the Board of Management, and Walter Lechler, Chairman of the Supervisory Board, outlined in private wealth why the company was particularly benefiting from the optimization of the combustion engine.
    Gerd Hübner & Klaus Meitinger 178
  • 038 Pexco Stefan Pierer Susanne Puello c Martin Erd 1
    Sep 30, 2018 How to earn it

    Duo under power.

    Reestablishment. What does a family entrepreneur do when she has sold her father's company and has to realize that her influence as a manager is also dwindling? Susanne Puello (above) pulls the rip cord, looks for a strategic partner at mit Stefan Pierer and founds a new company in the traditional area. With Pexco GmbH she wants to shuffle up the world of e-bikes once again.
    Dr. Günter Kast 187
  • 032 Climeworks 05 Gebald Wurzbacher Side Close Copyright Climeworks Photo by Julia Dunlop
    Sep 30, 2018 How to earn it

    Climate saver.

    Innovation. Climate summits are passionately discussing how mankind can reduce carbon dioxide emissions to limit global warming. Wouldn't it be better to think about how existing CO2 could be filtered out of the atmosphere? The Swiss start-up Climeworks has found a way.
    Hanns J. Neubert 195
  • 028 USERLANE Founders
    Sep 30, 2018 How to earn it

    The software navigators.

    Start-up. About one and a half years ago Felix Eichler, Kajetan Uhlig and Hartmut Hahn (top, from left) founded the company Userlane in Munich. Her idea: a navigation system that guides users through any software. Since then they have been overwhelmed by their own success. Their greatest challenge today is to maintain the rapid pace of growth.
    Gerd Hübner 347
  • 024 Cardior 109721217
    Sep 30, 2018 How to earn it

    It's close to the heart.

    Biotech. Every year in Germany alone, more than 200,000 people suffer a heart attack. Fortunately, fewer and fewer die of it. However, many survivors then develop heart failure, which is often fatal. The biotech company Cardior wants to put an end to this complication - with an elegant process that impressively demonstrates how much potential biotechnology has.
    Dr. Ludger Wess 192
  • 014 SennheiserHN 09. November 2017 RD48 Sennheiser
    Sep 30, 2018 How to earn it

    The ear on the pulse of time.

    Innovation. 3-D audio formats will revolutionize the world of hearing. This is a great opportunity for the family company Sennheiser, which specialises in the manufacture of microphones, headphones and conference solutions. And a challenge. "Andreas (left) and Daniel Sennheiser, "We have to maintain our innovation leadership." The two representatives of the third generation have long since set the course for this.
    Dr. Günter Kast 184
  • Sep 30, 2018 How to earn it

    "We're where something's going on."

    Network. In June 2018, M&T Expo Brazil, the largest construction machinery exhibition on the Latin American continent, will take place for the first time with the participation of Messe München. "This is an important step for us - we want to help shape the leading trade fairs at diesem Kontinent," says Stefan Rummel, Managing Director of Messe München. The LIDE business network can help here.
    Sonderveröffentlichung: LIDE Deutschland GmbH 184
  • Sep 30, 2018 How to earn it

    The man with the discoverer gene.

    Old and new economy. A traditional furniture store, a website and investments in innovative start-ups - Robert A. Kabs is very successful in three different worlds. The Hamburg entrepreneur is driven above all by one thing: the search for new horizons.
    Gerd Hübner 209
  • Sep 30, 2018 How to earn it

    Right at the front.

    Technology. Johann Hammerschmid (left in the picture) developed an extraordinary electric motorcycle - and won many admirers. Nevertheless, the Upper Austrian did not want to build more than 50 pieces. Cause actually, he was just practicing. He plans the big litter in three to five years. Then the time is ripe for a real electric revolution in motorcycles. And Hammerschmid wants to lead them.
    Dr. Günter Kast 183
  • Sep 30, 2018 How to earn it

    Ready for tomorrow.

    Management. The speed of change, they say, will never be as slow as it is today. Companies would have to increase the pace and allow more flexibility. The way there is described by management consultants with the magic word agility - self-organized cooperation. How the method works, what it really can do and in which areas it does not provide added value.
    Yvonne Döbler 219
  • Sep 30, 2018 How to earn it

    "We separate the harmful from the useful."

    Family business. Two families, a global corporation with sales of almost four billion euros and the solution to an ecological and social problem: Mann+Hummel develops filters that are used in cars and buildings, in water treatment and in the food industry. "Thomas Fischer, shareholder and Chairman of the Supervisory Board, is optimistic that "our possibilities are limitless."
    Yvonne Döbler 235
  • 11 Aquafil Aufmacher
    Sep 30, 2018 How to earn it

    Landfills are my gold mines.

    Perpetuum mobile. It sounds like a fairy tale. Giulio Bonazzi and his company Aquafil transform waste into high-quality yarn. And the best thing about it: This process can be repeated as often as you like - without any loss of quality. Aquafil is still at the beginning. But the market is huge. And the technology is unique.
    Sabine Holzknecht 263
  • 20 Wilkhahn 1
    Sep 30, 2018 How to earn it

    You gotta be tough.

    Succession. The market for high-quality office furniture is volatile and highly competitive. Those who assert themselves there have to achieve something very special. As is Jochen Hahne (above), who is the third generation to run the Wilkhahn family business.
    Mariella Bauer-Hallberg 203
  • 29 Maloja 79417898 imageData
    Sep 29, 2018 How to earn it

    Freedom is our luxury.

    Entrepreneurship. Klaus Haas (right) and Peter Räuber found their sports label Maloja in 2004 with extraordinary ideas. They resist rapid growth. They think pure profit thinking is outdated. And write a unique success story with it.
    Sabine Holzknecht 925
  • 24 ICON 3D Printer Render 1
    Sep 29, 2018 How to earn it

    I'm printing out my house.

    Innovation. Three young people from Austin, Texas, want to fundamentally change housing construction. Your company Icon uses 3D printing to build houses. The printed accommodation should be personalisable, but above all unbeatably cheap.
    Jörg Zipprick 219
  • Sep 29, 2018 How to live it

    Donating is a profession.

    Commitment. Ise Bosch is the granddaughter of Robert Bosch, who founded the largest private foundation in Germany. She herself is also involved as a donor in areas that are close to her heart. With "Besser donenden" she also launched the first German-language book title on the subject in 2007.
    Dr. Günter Kast 260
  • Sep 29, 2018 How to live it


    Airplane car. The combination of driving and flying could revolutionize the traffic of the future. So far, however, the trials have mostly failed due to safety or approval by the authorities. The Dutch company PAL-V is convinced that it has these problems under control - and dares to enter the market with a genuine airplane car.
    Jörg Zipprick 220
  • Sep 29, 2018 How to live it

    "Clan Management" - when the circle of shareholders grows.

    From the research workshop. The increasing acceptance of egalitarian forms of inheritance of shareholder shares has led in recent decades to the emergence of large shareholder groups of equal descent. How it is possible to succeed in attracting entrepreneurial families of this size to the company and to organize them as strategic and decision-making units.
    Prof. Dr. Tom A. Rüsen und Prof. Dr. Arist von Schlippe 214
  • Sep 29, 2018 How to live it

    Long times.

    Style. Who likes to live every second? More and more manufacturers are leaving the temporal small and small to electronic systems and recalling their tradition as the "slow food" of the watch industry. They concentrate on dealing with the long periods of time - days, weeks, years - and the big picture. With the greatest precision, of course.
    Jan Lehmhaus 176
  • Sep 29, 2018 How to live it

    The Aviator.

    Adventure. Bob Bates came from Australia to Papua New Guinea in the mid-1960s as a young engineer. He fell in love with the inaccessible and wild country and set about opening up the rainforest with airfields and lodges. Today Bates is the largest and most famous tour operator there. Even at 77 he still climbs into the cockpit of his bush pilots himself. Bob Bates stands on the terrace of Rondon Ridge Lodge, one of the youngest of his hostels, and looks down on Mount Hagen in the highlands of…
    Dr. Günter Kast 230
  • Sep 29, 2018 How to live it

    One pair of glasses for everyone.

    Commitment. A sighted person can hardly imagine what it means not to be able to see properly: writing, reading, sewing, repairing things, harvesting ... everything can hardly be accomplished. Nevertheless, 700 million people cannot afford glasses. The secondary school teacher Martin Aufmuth has set himself the goal of changing this. April 2012, it is hot in the hospital of Kasana near Uganda's capital Kampala. Just like the weeks before had been hot. Over 30 degrees Celsius. And dusty. And…
    Yvonne Döbler 316
  • Sep 29, 2018 How to live it

    Clans - this is how large families become sustainable,

    From the research workshop. Successful management of large shareholder groups erfordert Antworten on special family strategy issues. In private wealth 02/2017 the basic challenges have already been analysed. In the second part, the Witten Institute for Family Enterprises (WIFU) now examines how education and training formats should be defined so that appropriately trained family members can get involved. Im Ganzen, a professional clan management 2.0 is created. For a long time, family…
    Prof. Dr. Tom A. Rüsen und Prof. Dr. Arist von Schlippe 218
  • Sep 29, 2018 How to live it

    Maturing time.

    Pleasure. Only a few manufacturers worldwide have the specialist knowledge required to manufacture high-quality humidors. At Gerber, a Duisburg family business, this has developed from generation to generation. "Of course you can also take a glass of water and put it under a cheese cover," says Karl-Heinz Gerber junior. Before the trained carpenter and business graduate continues, he lets a few seconds pass: "But if the top right and bottom left should have exactly the same humidity and…
    Dr. Günter Kast 220
  • Sep 29, 2018 How to live it


    Entrepreneurship. Management consultant Roland Berger, almost 80 years old, is still an entrepreneur. He can't let go of new business ideas or the company that bears his name. It is a struggle for sovereignty over one's own meaning. "The documents are still missing." The voice sounds demanding. Roland Berger, 79, stands in a salon of the Hotel Bayerischer Hof in Munich. The spring sun is reflected in silver cans and leg-coloured etageren. An oval table is set for breakfast for a dozen…
    Cornelia Knust. 226
  • 106 Uhren HIRSCH 3
    Sep 28, 2018 How to live it

    The most beautiful triviality of the clock.

    Watch straps. Whether crocodile, rubber or velour: the bracelet essentially determines the character and effect of a watch - and also says something about the owner. It is a welcome opportunity for manufacturers to differentiate themselves from the competition and demonstrate their craftsmanship.
    Jan Lehmhaus 161
  • 105 Witten ideen auf piste
    Sep 28, 2018 How to live it

    Bringing ideas to the slopes.

    From the research workshop. A particularly innovative entrepreneurial spirit is attested to in family businesses. This distinguishes them from non-family enterprises. Unfortunately, many of these ideas ultimately do not always lead to products that generate sales. How it can be possible to improve the marketing of innovations in family businesses.
    Dr. Anne Katarina Heider und Dr. Maike Gerken WIFU (Wittener Ins­ti­tut für Familienunternehmen) 161
  • 100 Andreas Franke MG 8025
    Sep 28, 2018 How to live it

    Depth effect.

    Sponsorship. The Viennese photographer and diver Andreas Franke (above) provides his photographic art with a political statement. Shipwrecks at the bottom of the bikini atoll form the backdrop for his anti-nuclear message. He is still looking for supporters for the implementation.
    Mariella Bauer-Hallberg 166
  • 095 Christian Boehringer 1 0
    Sep 28, 2018 How to live it

    "If no one can do it, we'll do it ourselves."

    Commitment. Making More Health is an initiative of the family company Boehringer Ingelheim. Christian Boehringer has an ambitious goal: He wants to promote social entrepreneurs in order to help new solutions in the healthcare market worldwide on their feet.
    Yvonne Döbler 287
  • 092 MerckFinck480179343
    Sep 28, 2018 How to live it

    Change in the executive chair.

    Company succession. A successful transfer of responsibility at the top of a company can not only ensure its continued existence, but can even lead to a growth spurt. The prerequisite for this, however, is early initiation and thorough planning of the succession process. Bankhaus Merck Finck offers support in this process.
    Sonderveröffentlichung: Merck Finck Privatbankiers 217
  • 082 Stil AAHWAB
    Sep 28, 2018 How to live it

    "Wines are like children."

    "It's simply nice to see how guter Bordeaux has become more complex and deep over the years," says wine merchant Michael Unger. His favourite good: Château Pichon-Longueville Comtesse de Lalande in Pauillac.
    Michael Unger 156
  • Sep 28, 2018 How to live it

    Der Zauber from Zermatt.

    Stories from dem Wallis. Tourist destinations often only become interesting through the stories and lives of charismatic people. In the Valais mountain village of Zermatt, it's not just the Matterhorn with its bold shapes that is the subject of conversation. But also the artist and hotelier Heinz Julen with seiner außergewöhnlichen family history.
    Dr. Günter Kast 220
  • Sep 28, 2018 How to live it

    A man mobilizes.

    Commitment. <font color="#ffff00">-=Der Familienunternehmer=- proudly presents Day (right) provides people in developing countries with bicycles. But his World Bicycle Relief is supposed to be more than an aid organization. This is why the co-founder and co-owner of SRAM, the second largest wheel component manufacturer in the world, combines his humanitarian program with an entrepreneurial approach.
    Dr. Günter Kast 241

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