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    May 29, 2021 Editorials

    Directional Decisions.

    Dear readers, In the next few months, we'll probably take big steps back towards normality, thanks to vaccination in Europe. That is wonderful. At the same time, however, it is now high time for some fundamental thinking - about the role of the state, economic policy and monetary policy. It's about exiting emergency mode. No doubt about it. When disasters strike, the state is called upon. After that, it should back off. Currently, the discussion is exactly the opposite. Father state is supposed…
    Klaus Meitinger 53
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    May 29, 2021 Opinionleader

    "Take the lead."

    With its rules on taxonomy, the EU will initiate a massive transformation of the economy, Christian Klein, Professor of Sustainable Finance at the University of Kassel, is convinced: "For SMEs, this is an opportunity."
    Christian Klein 48
  • Adrenomed DSC 0759
    May 29, 2021 How to earn it

    "If I don't do it, nobody will."

    Theragnostics. Eleven million people worldwide die with or from sepsis every year. Covid-19 also leads to septic shock in severe cases and subsequently to multiple organ failure. Nevertheless, it has not been possible to develop a therapy against it for 50 years. Andreas Bergmann has made this his life's work. As a scientist and as an entrepreneur. "Especially when the task is difficult and complex," he noted, "you can't wait for others. Then you have to become entrepreneurial yourself." That's…
    Klaus Meitinger 280
  • Fox e aufmacher
    May 29, 2021 How to earn it

    Mia electrifies.

    Start-up. Swiss entrepreneur Andreas Kratzer wants to make Fox e-mobility the first pure e-vehicle company in Europe. An ambitious goal, because the market is competitive. To prevail, Kratzer needs investors who believe in his vision.
    Gerd Hübner 51
  • Einhell Aufmacher
    May 29, 2021 How to earn it

    On the road to another league.

    Expansion. The Thannhuber family of entrepreneurs from Lower Bavaria manages the production of do-it-yourself appliances with ambitious goals. Not only in terms of the economic perspective of Einhell AG. The sons of founder Josef Thannhuber - Markus (left) and Philipp - are also to be given justice and entrepreneurial scope.
    Cornelia Knust 70
  • CAP Aufmacher shutterstock 1129744511
    May 29, 2021 How to earn it

    We perfect climate protection.

    Innovation. The only effective climate protection is to buy pollution rights and take them off the market for all time. "Because only then will the amount of CO2 emissions actually decrease," explain Hanjo Allinger and Christian Jasperneite. With their company CAP2, they want to give everyone the opportunity to cap their own CO2 footprint more efficiently.
    Klaus Meitinger 49
  • Progroup aufmacher
    May 29, 2021 How to earn it

    The industry leader.

    Generation change. Jürgen Heindl turned Progroup into a champion in the packaging industry with 900 million euros in sales in just 30 years. Now he wants to convert the company to a post-patriarchal structure and hand over the reins to his son Maximilian.
    Dr. Günter Kast 43
  • PW 04052021 Borsenglas
    May 29, 2021 How to invest it

    "Stock prices will continue to rise."

    Although the quotations of most stock indices are close to their record levels, two thirds of the members of the Lerbach Competence Circle are betting on rising prices in the coming six months as well. They have good arguments for this.
    Klaus Meitinger 40
  • PW 04052021 Borsenglas
    May 29, 2021 How to invest it

    "A correction is looming in the equity markets."

    Too much optimism, too high expectations, prices rising too quickly - this is how one third of the Lerbach Competence Circle comments on the situation on the stock markets.In the course of the next six months, the experts expect significant setbacks.
    Klaus Meitinger 31
  • Schroders Immo shutterstock 1678728916
    May 29, 2021 How to invest it

    Real estate world in flux.

    Real Estate. The demands on players in the real estate industry are changing rapidly. "More than ever before, investors have to view each property as an independent corporate commitment and, above all, keep an eye on ESG aspects," analyse Thomas Wiegelmann, Managing Director at Schroder Real Estate, and Jan Linsin, Head of Research at CBRE in Germany.
    Sonderveröffentlichung: Dr. Thomas Wiegelmann, Geschäftsführer Schroder Real Estate Asset Management GmbH 46
  • Nachhaltigkeit Opener shutterstock 96056567
    May 29, 2021 How to invest it

    Successfully invest money sensibly.

    Sustainable investment. In future, more and more capital will only be made available to companies that behave in an exemplary manner in terms of ESG - environmental, social and corporate governance. Or make a positive contribution to our society through their business model, products and services. A megatrend has gained momentum and will continue to accelerate in the future.
    Klaus Meitinger 41
  • NN shutterstock 1695183850
    May 29, 2021 How to invest it

    Capital has an effect.

    Impact Investment. Investments in innovative companies with a positive impact on the environment and society are increasingly becoming the focus of investors. But putting this idea into practice is not entirely straightforward. "Measuring and controlling the actual impact is just as big a challenge as building an optimized portfolio from the many exciting companies. We have developed a special approach for this," explains Huub van der Riet, long-standing manager of the NN (L) Global Equity…
    Sonderveröffentlichung: NN Investment Partners 26
  • Instrumente aufmacher
    May 29, 2021 How to invest it

    That sounds fantastic.

    Philanthropy. When culture and wealth can agree on a goal, something special is created. Buying historical string instruments and making them available to top musicians is an investment model that benefits society and even pays off.
    Yvonne Döbler 37
  • Schroders shutterstock 1275722419
    May 29, 2021 How to invest it

    The rock.

    Alternative Investments. In view of highly valued stock markets, the risks in portfolios are increasing. And because interest-bearing securities - unlike in the past - no longer offer much in the way of returns or protection in the event of turbulence, investors are looking for new underlying investments that generate returns regardless of market trends. "The GAIA Helix fund does just that," says Ulrich Heuberger, head of sales at Schroder Investment Management.
    Sonderveröffentlichung: Schroder Investment Management (Europe) S.A., 38
  • Blockchain shutterstock 1170889429
    May 29, 2021 How to invest it

    Infinite possibilities.

    Financial innovation. The prices of all investments around blockchain technology are rising rapidly. This may be - as is often the case with fascinating innovations - a period of exaggeration in the early days. But the technology's potential is real. An overview.
    Gerd Hübner 31
  • Eyb shutterstock 140042659
    May 29, 2021 How to invest it


    Shuffling possible. For a long time, investors have achieved adequate returns by dividing their assets between 60 percent equities and 40 percent government bonds. In view of rising inflation rates and persistently low interest rates, this is now becoming increasingly difficult in real terms, i.e. adjusted for purchasing power. "It is high time to readjust this successful strategy," says Kristina Bambach, who is responsible for the Phaidros Funds Balanced mixed fund at asset manager Eyb &…
    Sonderveröffentlichung: Eyb & Wallwitz 34
  • Eltif aufmacher
    May 29, 2021 How to invest it

    It's worth it.

    Real asset investments. In view of persistently low interest rates and rising inflation rates worldwide, demand for real assets is increasing. European Long-Term Investment Funds, or ELTIFs, are designed to provide fee-efficient, transparent and strictly regulated access to asset classes such as infrastructure, private debt or private equity.
    Gerd Hübner 42
  • SAKE shutterstock 1935487507
    May 29, 2021 How to live it

    The drink for the gods.

    Mariko Schmitz is one of Germany's few sake sommelières certified in Japan. To all those who get wanderlust for Japan when the Olympics start in Tokyo in July, she advises to refine the evening with sake.
    Mariko Schmitz 35
  • Engelhorn Aufmacher
    May 29, 2021 How to live it


    Passion. People who come from great entrepreneurial families usually strive to create lasting value themselves. Kurt A. Engelhorn took a long time. But now he seems to have found his way there. The focus is on a special investment strategy, a virtual company, historic automobiles and, above all, a very special car race - the Bernina Gran Turismo.
    Klaus Meitinger, Philipp Wente 41
  • Transparenter Bulle 2
    May 29, 2021 How to live it

    Transparency as a success factor.

    Perspective. Investors want to know exactly how good their asset managers really are. They, in turn, want to be able to prove that they deserve their clients' trust - especially in times of crisis. "Both have a high interest in objective, neutral and bank-independent proof of performance," says Alexander Etterer, partner at the auditing firm Rödl & Partner: "We deliver it."
    Sonderveröffentlichung: Rödl & Partner GmbH 31
  • Proteomics aufmacher
    May 29, 2021 How to live it

    Genomics was yesterday - proteomics is tomorrow.

    Science. Decoding the 3.2 billion letters of the human genome 20 years ago was a sensation. Now researchers are taking the next step - deciphering the proteins, the actual carriers of life.
    Hanns J. Neubert 33
  • Harbour Air Aufmacher
    May 29, 2021 How to live it

    Going with the flow.

    Innovation. Greg McDougall is the founder and CEO of Harbour Air, North America's largest seaplane fleet. He managed to make the world's first flight in an all-electric commercial aircraft. He won't save the world with it, but it's a start.
    Dr. Günter Kast 39
  • Default Image
    May 29, 2021 How to live it

    "I believe in the city."

    Real estate trends. Globally, the market for larger homes in suburbs and resorts is booming. "This will calm down again," says Michael Reiss, managing partner of Sotheby's International Realty in Munich, "I expect the big city to make a comeback."
    Michael Reiss 30
  • Kunst Wiyu Wahono with projection of datatron Ryoji Ikeda
    May 29, 2021 How to live it

    Time. Spirit. Art.

    Art Collection. New technologies are revolutionizing art. Digitization, virtual reality and augmented reality enable new forms of expression. And open up new worlds for collectors. Indonesian entrepreneur Wiyu Wahono is one of the world's most renowned collectors of art that reflects the spirit of the times. How does that work? And what challenges do collectors have to face in the process?
    Dr. Annette Doms 40
  • Witten ILLU Unternehmerkinder
    May 29, 2021 How to live it

    Empowering the children of shareholders.

    Families, it is said, lose their business in the first generation for lack of insight, in the second for lack of harmony, and in the third for lack of interest. Therefore, a scientific study of the socialization of shareholder children is of great importance. For they will shape the family business and the entrepreneurial family in the future.
    Peer Clinten und Prof. Dr. Heiko Kleve, Wittener Institut für Familienunternehmen (WIFU) 43
  • Babanango aufmacher
    May 29, 2021 How to live it

    A heart for Africa.

    Passion. For many years, Hellmuth Weisser was co-owner, chairman of the board and supervisory board of Marquard & Bahls AG, a global energy trader and tank farm operator based in Hamburg. Now he is building a 22,000 hectare animal sanctuary in South Africa, investing around 30 million euros in the project.
    Dr. Günter Kast 31
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    May 29, 2021 A letter from

    "We're calling for a turnaround."

    A letter from ... Marcus Vitt, Spokesman of the Board of Donner & Reuschel, Edmund Stoiber, Peer Steinbrück, Günther Oettinger, Hans-Werner Sinn, Wolfgang Reitzle and many more.
    Marcus Vitt 45
  • Robeco shutterstock 1845342154
    May 26, 2021 How to invest it

    Virtuous Circle.

    Circular economy. The traditional production model of the throwaway society is reaching its limits in a world of scarce resources and increasing environmental damage. The transition to an economy that consistently recycles resources can offer a way out. The experts at Robeco have made this an exciting investment theme.
    Sonderveröffentlichung: Robeco Deutschland 37
  • Threadneedle aufmacher
    May 26, 2021 How to invest it

    Emerging Markets reloaded.

    Schwellenländer-Aktien. In den ersten acht Jahren der 2000er waren Schwellenländer – vor allem die legendären BRICs – Stars an den Kapitalmärkten. Danach folgte ein mühsamer struktureller Umbau – weg von Exporten und Rohstoffen, hin zu Binnenwirtschaft, Konsum und Technologie. „Nun ist dieser abgeschlossen. Anlegern eröffnen sich ganz neue Chancen“, meint Dara White, Columbia Threadneedle.
    Sonderveröffentlichung: Columbia Threadneedle 35
  • Brain1
    Nov 28, 2020 How to live it

    Thought transference.

    Innovation. Brain-computer interfaces send information directly from a living brain to the electrical circuits of computers. In this way, people today can control machines simply by thinking. And this is only the beginning.
    Hanns J. Neubert 235
  • Token 935705246
    Nov 28, 2020 How to invest it

    The new world of investment.

    Blockchain. The digital representation of property rights, known as tokenization, not only allows the cost-effective trading of real asset classes in small denominations. It also opens up completely new investment opportunities. For many investors, this significantly expands the investment universe. However, the market is still in its infancy. There are a number of hurdles to be overcome.
    Gerd Hübner 259
  • Threadneedel 47922296
    Nov 28, 2020 How to invest it

    Reality check.

    Small Caps. Shares of smaller companies, they say, are more susceptible to economic cycles and therefore riskier, especially in crises. This effect can be minimised by clever stock selection, claimed Scott Woods of Columbia Threadneedle a year ago. How did the expert get through the turbulent market phase of recent months with his small-cap strategy?
    Threadneedle Management Luxembourg S.A. 245
  • Bildung 177400275
    Nov 28, 2020 How to invest it

    Education is worthwhile.

    Funds. Education funds finance ambitious students at private universities by covering tuition fees and living expenses. In this way, they also help to overcome financing bottlenecks during the Corona period. Repayments are made when the former students earn income. An investment with added value.
    Yvonne Döbler 224
  • Elly Seidl1
    Nov 28, 2020 How to earn it

    "Let's give this a try."

    Handmade. Instead of rapid growth, the Munich entrepreneurial family Rambold and their chocolate manufacturer Elly Seidl focus on careful expansion and uncompromisingly high quality (picture above: Helmut Rambold (left) and Maximilian Rambold).
    Mariella Bauer 239
  • Softing1
    Nov 28, 2020 How to earn it

    The optimist.

    Expansion strategy. In 18 years, Wolfgang Trier, now 55, has turned the bankruptcy candidate Softing into a serious supplier of communication solutions for industry. "And the best," Trier is convinced, "is yet to come.
    Yvonne Döbler 222
  • thumb Editorial
    Nov 28, 2020 Editorials

    The ultimate value storage.

    Dear Readers, what keeps its value? This question not only concerns our network, it was also omnipresent at the Lerbach round. The large states have apparently exceeded the "point of no return" due to the Corona rescue measures, up to which they were able to control their debt burden without the financing of the central banks. So the central banks will (have to) continue to channel money into the cycle. If the money supply now increases much faster than the quantity of goods, won't financial…
    Klaus Meitinger, Moritz Eckes 313
  • Lerbach DSF1819
    Nov 28, 2020 How to invest it

    Rethinking interest rate investments.

    Income. Secure interest rate investments will not yield a return for years to come. For investors seeking adequate returns with reasonable risk, broad diversification across a range of alternative investments is the solution.
    Klaus Meitinger 2993
  • Lerbach DSF1784 2
    Nov 28, 2020 How to invest it

    The (un)holy alliance.

    Economic policy. Fiscal and monetary policy are increasingly converging. Is this a curse? Or a blessing? And what does it mean for the future of the economy, the prospects for growth and the outlook in the various asset classes?
    Klaus Meitinger 172
  • Lerbach DJI 0005
    Nov 28, 2020 How to invest it

    The view over the valley.

    Lerbach round. Since 2010, bankers, asset managers and family officers have been meeting once a year to provide inspiration and guidance to wealthy investors. This year, the experts are not only analysing how the stock markets will react in the face of rising infection figures. Sie are also thinking about what will happen in the markets once we have learned to live with the virus. And in three workshops they discuss the most interesting topics from economic policy and capital investment.
    Klaus Meitinger 171
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    Nov 28, 2020 Opinionleader

    Reboot with President Biden.

    Europe now has the opportunity to set a new transatlantic agenda. "We should not wait for US initiatives, but actively make offers to the US", demands Markus Kaim, Stiftung Wissenschaft und Politik.
    Markus Kaim 212
  • Fackelmann1 neu
    Nov 28, 2020 How to earn it

    Lord of the Marches.

    entrepreneurship. Alexander Fackelmann has been managing the fortunes of the family business for 30 years. During this time, turnover has increased tenfold to almost 400 million euros. Now the 64-year-old is handing over operational responsibility to a non-family CEO. Together with the fourth generation, he is to lead the way towards digitalization and sustainability.
    Miriam Zerbel 177
  • Meckatzer1
    Nov 28, 2020 How to earn it

    White beer.

    Branding. From the small Allgäu village of Meckatz, the Weiß family has been delighting beer connoisseurs from the region and far beyond for almost 160 years. Owner Michael Weiß explains how he has succeeded in doing so despite competition from over-powerful large breweries.
    Yvonne Döbler 168
  • Carbonauten1
    Nov 28, 2020 How to earn it

    The climate killers.

    Innovation. The Baden-Württemberg start-up company carbonauten has developed a plastic whose production uses raw materials that would otherwise produce harmful greenhouse gases. In ten years, the founders Torsten Becker (l.) and Christian Hiemer hope to generate more than one billion euros in sales with this super material.
    Dr. Günter Kast 169
  • Default Image
    Nov 28, 2020 How to invest it

    Turn fantasy into profit.

    Technology. The corona crisis is a huge challenge for economy and society. And a disruption of historic proportions. For equity investors, it will be even more important now than before to invest in companies with disruptive business models.
    Sonderveröffentlichung: Dr. Christian Jasperneite CIO, M.M.Warburg & CO 166
  • Schroders 865824362
    Nov 28, 2020 How to invest it

    Hunt for unicorns.

    Venture capital. Venture capital investments in the technology sector have always had a special appeal due to the great potential for returns. Accelerated by the pandemic, innovation and disruption are now receiving an additional boost. "Intelligent fund solutions give investors the opportunity to invest early in the billion-dollar companies of tomorrow," says Peter Begler, Schroders.
    Sonderveröffentlichung: Schroder Investment Management 178
  • Adv NN Die bessere Anleihe
    Nov 28, 2020 How to invest it

    The better bond.

    Green Bonds. Increasingly, governments and companies are issuing bonds to finance "green" projects. This is interesting for investors for two reasons. "Capital has a positive effect, and with the right selection, the risks in the portfolio can be reduced," explains Bram Bos, NN Investment Partners.
    Sonderveröffentlichung: NN Investment Partners 161
  • Schroders Immo hires c Simon Menges
    Nov 28, 2020 How to invest it

    Better to live in the city.

    Real estate. Wealthy investors and family offices are looking for secure investments with long-term stable returns. Tino Lurtsch, Managing Director at Schroder Real Estate, and Georg Gmeineder, Alternative Director Real Estate at Schroder Investment Management, will show how this goal can still be achieved today through selected properties in metropolitan regions.
    Sonderveröffentlichung: Schroder Real Estate Investment Management GmbH 160
  • Eyb 92252371
    Nov 28, 2020 How to invest it

    The catcher.

    Fallen Angels. If bonds are downgraded in terms of creditworthiness and thus lose their investment grade rating, which is important for large investors, there are usually massive price fluctuations. Andreas Fitzner takes advantage of this in the Fallen Angels Fund of Eyb & Wallwitz.
    Sonderveröffentlichung: Eyb & Wallwitz 179
  • Metzler 1204555004
    Nov 28, 2020 How to invest it

    Change in the Middle Kingdom.

    China. While politicians in the US and increasingly also in Europe are considering sealing off their economies from China, investors should open their portfolios more strongly for Chinese shares, advises Carolin Schulze Palstring, Head of Capital Market Analysis at Metzler Private Banking. After all, China's rise to become the world's global economic power opens up a wide range of investment opportunities.
    Sonderveröffentlichung: B. Metzler seel. Sohn & Co. 153
  • Spacs 277407420 edit
    Nov 28, 2020 How to invest it

    Fascinating PerSPACtives.

    Alternative investments. Annual returns of between two and five percent with low risk seem impossible in the zero interest rate era. SPACs - Special Purpose Acquisition Companies - can, if used correctly, be one of the rare investments that can still achieve this goal.
    Klaus Meitinger 148
  • Stil IMG 9138 1
    Nov 28, 2020 How to live it


    Mathias Heller wants to revive the classic soda culture with his siphon manufacture. That's why he restores old siphons - creating unique pieces with a history for true bar culture enthusiasts.
    Mathias Heller 169
  • Doellerer1
    Nov 28, 2020 How to live it

    The pleasure family.

    Tradition. The Döllerers from Golling near Salzburg prove that money can be earned with top-class gastronomy - if it is integrated into a harmonious overall concept. Now in its fifth generation, more than 20 family members are involved.
    Dr. Günter Kast 152
  • Roedl 107276875
    Nov 28, 2020 How to live it

    The key to success.

    Consulting. Information is the beginning of everything. That is why Alexander Etterer's digital reporting provides an informative, structured overview of the total assets of Rödl & Partner clients. This data is not only key to successful wealth management, but also helps with tax issues or succession planning.
    Sonderveröffentlichung: Rödl & Partner GbR 163
  • Merck 525021720
    Nov 28, 2020 How to live it

    Founders are setting a new course.

    commitment. In the zero interest rate era, many foundations only exist on paper. Due to a lack of income, they can no longer provide support. "The purpose of a foundation is then missed, the founder's will no longer achieved," says Ralf Schwind, Chairman of the Executive Board of the Merck Finck Foundation, making it clear and outlining ways out of this dilemma.
    Sonderveröffentlichung: Merck Finck Privatbankiers AG 165
  • Witten Genogramm
    Nov 28, 2020 How to live it

    Between tradition and modernity.

    The great challenge for entrepreneurial families is to maintain a balance between tradition and modernisation of their living conditions in a rapidly changing society. In its research, WiFU is investigating how this can be achieved.
    Prof. Heiko Kleve, Kristin Beer, Wittener Institut für Familienunternehmen 166
  • Default Image
    Nov 28, 2020 How to live it

    "Let us build new cities."

    New Work. The trend towards the home office will turn the office markets upside down. Will city centres then become unattractive for investors? "We have to rethink", says Michael Reiss, managing partner of Sotheby's International Realty in Munich, "then this is a huge opportunity."
    Michael Reiss 160
  • Default Image
    Nov 28, 2020 A letter from

    Keeping society together.

    A letter from... Andreas Rickert. The founder of Phineo is concerned about the existence of the non-profit sector and explains how the Corona relief fund can be used to help.
    Andreas Rickert 189
  • Oldtimer1
    Nov 25, 2020 How to live it

    Art meets Car.

    Oldtimer. Seit 1987 betreibt Axel Schuette den Handel mit automobilen Raritäten. In diesen 33 Jahren gingen mehr als 3000 Sammler­fahrzeuge durch seine Hände. Authentische Originale, Fahrzeuge mit Seele. „Das ist“, sagt er, „meine Leidenschaft. Denn hinter vielen dieser Autos stehen ganz besondere Geschichten.“ Wie die des 300 SL Flügeltürers, der dem Künstler Andy Warhol Modell stand.
    Sonderveröffentlichung: AXEL SCHUETTE FINE CARS 177
  • Lerbach DSF1806
    Nov 19, 2020 How to invest it


    Technologieaktien. Die Wertentwicklung von Aktien im Tech-Sektor ist atemberaubend. Und erinnert ein bisschen an die Dot-Com-Blase der späten 1990er Jahre. Ist die Furcht vor einem Tech-Crash unbegründet? Und wieviel Tech gehört ins Depot?
    Klaus Meitinger 155
  • Lux et veritas shutterstock 1392246206 2
    Nov 19, 2020 How to invest it

    Invest it like Yale.

    Secondary Private Equity. Many large investors are so successful because they hold a high quota of private equity in their portfolios over the long term. "Even for wealthy private investors and smaller family offices, however, this is not so easy to implement," explains Florian Dillinger, Matador Partners Group AG. "In order to create easy access to this asset class for them, we have founded Matador".
    Sonderveröffentlichung: Matador Partners Group AG 160
  • Uhren1
    Nov 19, 2020 How to live it

    Made to measure.

    Personalised watches. The digitalisation of the traditional watch industry is progressing in giant strides. In the future, it will open up new ways for lovers of individual timepieces to find their own personal favourite piece.
    Jan Lehmhaus 155
  • Merck Finck 1
    Jun 08, 2020 How to invest it

    For a better world.

    Impact Investment. Investing money in a financially lucrative way and at the same time generating a measurable social return is considered the supreme discipline of sustainable investing. "It is particularly interesting to implement this in all asset classes," says Sönke Niefünd, Co-Head Competence Center Sustainability and Head of the Hamburg office of Merck Finck Privatbankiers AG. He explains how this is achieved.
    Sonderveröffentlichung: Merck Finck Privatbankiers 281
  • TolerogenixX 1
    Jun 08, 2020 How to earn it

    Carefree life with donor organs.

    Medical technology. People with donor organs must be on guard against infectious diseases throughout their lives. To prevent the organ from being rejected, their immune system must be suppressed. An infection could be a death sentence. Biotechnology companies are now working to preserve the capabilities of these patients' immune systems.
    Dr. Ludger Wess 308
  • Moewa 1
    Jun 08, 2020 How to earn it

    Small units, big effect.

    Start-up. The expansion of large wind turbines has almost come to a standstill in Germany. As a result, a niche is opening up for small, cost-effective and modularly expandable turbines. Two Berlin-based founders want to bring them to series production readiness.
    Dr. Günter Kast 328
  • Default Image
    Jun 08, 2020 Opinionleader

    What can the state do?

    In the Corona crisis, the government has demanded considerable restrictions from citizens. Was that legal? And: Was it proportional? Maximilian Werkmüller, professor at the Allensbach University, provides answers.
    Prof. Maximilian Werkmüller 315
  • thumb Editorial
    Jun 08, 2020 Editorials

    Courage. Confidence. Confidence.

    Dear Readers, Of course the next few months will be tough. No question about that. But we don't have the impression that family businesses are emerging from our network. On the contrary. We hear sentences like: Take responsibility, decide, follow through. It's fantastic how the employees go along in this situation. Now more than ever instead of yes, but. The fact that everything secondary is now relegated to the background and only the survival of the company and the jobs counts, brings out the…
    Klaus Meitinger, Moritz Eckes 287
  • Claude Maurer 1
    Jun 08, 2020 How to earn it

    That makes it possible.

    Succession. The lighting designer Ingo Maurer from Munich has left to posterity not only his art but also his business. As disorganized as might have been expected from this type of artist. Daughter Claude Maurer needs a new management strategy to keep the company alive.
    Cornelia Knust 324
  • IbuTec 1
    Jun 08, 2020 How to earn it

    The Alchemist.

    Technology. Ulrich Weitz transforms simple materials into high-tech materials. And thus turned a small, formerly state-owned company into a globally successful supplier to industry. The products of his company IBU-tec are particularly well received in the future market of battery technology.
    Gerd Hübner 330
  • Kremer 1
    Jun 08, 2020 How to earn it


    Exclusivity. When the premier league of international museums and artists is looking for historical colours, it travels to the Swabian province. There, the family-owned company Kremer makes millions in sales with unique color pigments.
    Mariella Bauer 350
  • Illu Aufmacher 1
    Jun 08, 2020 How to invest it

    Orientation. In the eye of the storm.

    Strategy. How will the global economy develop? How will corporate earnings turn out in the future? Which losses at companies will be temporary, which permanent? And how should investors position themselves now? The Lerbach Competence Circle, an illustrious panel of 26 family officers, asset managers and private bankers, has answers to the most important questions from investors.
    Klaus Meitinger 290
  • Schroders Balance 157429894
    Jun 08, 2020 How to invest it

    The optimal balance.

    Infrastructure bonds. The market for interest rate investments is split in two. Completely safe securities no longer offer a yield. And where investors can achieve high returns, the risk of bankruptcy is always present in the face of the looming global recession. The Schroders investment house has found a middle ground. Infrastructure bonds can generate yields of around four percent - with a maximum of security.
    Sonderveröffentlichung: Schroders Deutschland 250
  • Eyb Wallwitz 163085095
    Jun 08, 2020 How to invest it

    Top dogs and challengers.

    Stock strategy. Once the dust settles, it will become clear that the global economy is likely to grow more slowly in the post-Corona period than previously assumed, says Georg Graf von Wallwitz, founder of the asset management firm Eyb & Wallwitz. Then only a few companies will prosper. "These have to be found. Because they will become more and more valuable for investors.
    Sonderveröffentlichung: Eyb & Wallwitz; www.eybwallwitz.de 277
  • Robeco 1203242115
    Jun 08, 2020 How to invest it


    Megatrends. More and more often, investors are not orienting themselves to countries when building up their equity portfolio, but to ­themen. "The pandemic will reinforce trends that were clearly visible before," says Ed Verstappen, trend investing expert at Robeco. Today is therefore a good opportunity to invest in this sector. The professional explains what investors should bear in mind when making theme investments.
    Sonderveröffentlichung: Robeco Deutschland 266
  • Matador 1183370197
    Jun 08, 2020 How to invest it

    Back to the future.

    Secondary private equity. Those who invested in secondary funds during the financial crisis ten years ago were able to generate high double-digit returns per annum. "Such a Second(ary) opportunity is now available again," Florian Dillinger, Matador Partners Group AG, is convinced.
    Sonderveröffentlichung: Matador Partners Group AG 244
  • Threadneedle 881484124
    Jun 08, 2020 How to invest it

    It depends on the pulse.

    Change. More and more social bonds are being issued to provide capital to solve social problems. "Investors should thus achieve a social return in addition to the financial one," explains Simon Bond, bond expert at Columbia Threadneedle. "For this to really work, however, the benefits of the projects must be analysed very carefully."
    Sonderveröffentlichung: Columbia Threadneedle 219
  • Schroders Hotels
    Jun 08, 2020 How to invest it

    Now more than ever.

    Hotel real estate. The hotel and travel industries are at the epicentre of the Corona crisis. "Although the short-term outlook is extremely bleak. But those who invest countercyclically in hotels will be rewarded in the long term", Philipp Ellebracht, Head of Real Estate Product Continental Europe at the Schroders investment house, is convinced: "Because the hotel market should have fully recovered within the next five years".
    Sonderveröffentlichung: Schroder Real Estate Investment 220
  • Merck Finck 1
    Jun 08, 2020 How to invest it

    For a better world.

    Impact Investment. Investing money in a financially lucrative way and at the same time generating a measurable social return is considered the supreme discipline of sustainable investing. "It is particularly interesting to implement this in all asset classes," says Sönke Niefünd, Co-Head Competence Center Sustainability and Head of the Hamburg office of Merck Finck Privatbankiers AG. He explains how this is achieved.
    Sonderveröffentlichung: Merck Finck Privatbankiers 222
  • Bitcoin iStock 905105464
    Jun 08, 2020 How to invest it

    The digital gold.

    Bitcoin. In view of the monetary dilution of all paper currencies due to the extremely expansive monetary policy, investors are looking for alternative store of value. The first choice is gold - proven for centuries. With Bitcoin, perhaps another alternative is now emerging.
    Klaus Meitinger 303
  • Stil Alte Meister
    Jun 08, 2020 How to live it

    Old masters digital.

    Joel Kremer (39), director of the Kremer Collection, brings his parents' Old Masters to life online. In this way, he ensures that no one has to forego enjoyment of art.
    Joel Kremer 290
  • Virunga 1
    Jun 08, 2020 How to live it

    Give up? No way.

    Philanthropy. The Belgian nobleman Emmanuel de Merode made the rescue of the famous Virunga National Park, the oldest and most species-rich nature reserve in Africa, his life's work. With the help of international patrons and unperturbed by an assassination attempt, he is implementing his Marshall Plan for East Congo step by step. Rebels, Ebola, greedy oil companies and corrupt politicians cannot stop him.
    Dr. Günter Kast 312
  • Rdl 471363029
    Jun 08, 2020 How to live it

    The right opening move.

    Orientation. After the sale of a company, a new phase of life begins for former company owners. "It is crucial to ask the right questions at the very beginning. Thanks to our interdisciplinary approach, we can make a difference for 'wealthy entrepreneurs'", Christian Rödl, partner and managing partner of Rödl & Partner, points out.
    Sonderveröffentlichung: Rödl & Partner GbR 298
  • Hans Schoepflin 1 Stifter 2000px c Arno Dietsche
    Jun 08, 2020 How to live it

    The country needs new donors.

    Foundations. The foundation landscape is changing rapidly. Whereas philanthropists used to respond regionally and locally and individually to specific emergency situations, more and more philanthropists today think strategically, internationally and collaboratively. And they - like Hans Schöpflin - manage their foundation like a company.
    Yvonne Döbler 269
  • Witten Illu
    Jun 08, 2020 How to live it

    In the face of the pandemic.

    From the research workshop. How have successful entrepreneurial families reacted to crisis situations in the past and what makes family businesses resistant to crisis even today? A blueprint from family research.
    Professor Dr. Tom A. Rüsen 250
  • Default Image
    Jun 08, 2020 How to live it

    Search for the foundation.

    Real estate. Forecasts on the real estate markets vary widely. Is the crash coming? Oder will the boom continue now more than ever? Michael Reiss, managing partner of Sotheby's International Realty in Munich, dares to give an outlook.
    Michael Reiss 279
  • Gut Ising 1
    Jun 08, 2020 How to live it

    Big jumps.

    Equestrian sports. The equestrian gene is in the blood of the Magalow family. Konstantin Magalow's father founded the equestrian farm Ising at the Chiemsee, and Magalow himself made it famous. Daughter Sylvia and her husband Dietmar Gugler are now setting new standards: expanded riding facilities, a first-class training concept and tournaments for leisure riders to top athletes.
    Annika Singer 265
  • Default Image
    Jun 08, 2020 A letter from

    Who thinks of the poorest?

    A letter from... Sabine Holzknecht. The author of private wealth has been honorary chairwoman of the organization "Help without Frontiers" for four years. She appeals to our solidarity.
    Sabine Holzknecht 265
  • Fishing 1
    Jun 01, 2020 How to earn it

    Big fish – Big business.

    Tourism. The Argentinean Fernando de las Carreras, 53, has made his company Nervous Waters one of the best addresses for fly fishermen worldwide. And built an exclusive travel empire around it. One of the reasons why the business is flourishing is because the wives of the anglers also feel at home in the exclusive lodges - and therefore enjoy travelling with them or even fishing themselves.
    Dr. Günter Kast 404
  • Illu 2 Die Welt nach Corana
    Jun 01, 2020 How to invest it

    The world after Corona.

    Vision. Sometime in 2022, the global economy will have overcome the corona collapse. How will important parameters for investors and asset owners have changed then? Nine questions, the answers to which will determine investment success and asset preservation.
    Gerd Hübner, Klaus Meitinger 260
  • Metzler 2B6T34G
    Jun 01, 2020 How to invest it

    U(ndecided) States of America.

    US elections. Presidential elections will be held in the USA in autumn. Carolin Schulze Palstring, Head of Capital Market Analysis Metzler Private Banking, examines the candidates' election chances as well as possible effects on economic and monetary policy.
    Sonderveröffentlichung: B. Metzler seel. Sohn & Co. 221
  • thumb Editorial
    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 410
  • 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 578
  • 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 552
  • 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 442
  • 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 750
  • 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 527
  • 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 692
  • 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 514
  • 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 568
  • 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 386
  • 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 459
  • 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. 381
  • 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 402
  • 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 433
  • 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 378
  • 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 398
  • 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. 396
  • 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 300
  • 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 353
  • 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 351
  • 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 305
  • 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 286
  • 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 294
  • 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 438
  • 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 413
  • 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 478
  • 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 440
  • 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 449
  • 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 673
  • 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 425
  • 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 546
  • 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 563
  • 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 531
  • 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 589
  • 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 710
  • 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 594
  • 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 573
  • 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 736
  • 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 479
  • 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 434
  • 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. 496
  • 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 445
  • 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 471
  • 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 417
  • 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 451
  • 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 384
  • 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 454
  • 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 475
  • 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 492
  • 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 526
  • 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 421
  • 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 509
  • 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 429
  • 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 532
  • 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 340
  • 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 556
  • 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 947
  • 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 443
  • 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 472
  • 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 479
  • 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 433
  • 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 555
  • 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 600
  • 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 470
  • 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 462
  • 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 491
  • 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 491
  • 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 524
  • 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. 461
  • 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 467
  • 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 496
  • 056 Metzler 1 composing hires
    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 383
  • 050 Lerbach 1
    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 497
  • 046 048 Wasserglas pw Schwellenland 11 2018 final
    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 414
  • 046 048 Wasserglas pw Schwellenland 11 2018 final
    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 438
  • 042 LIDE 1 103744142
    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 826
  • 030 SchweizerElectronic 1 20180913 DSF5878 2
    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 766
  • 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 569
  • 024 NorCom 1 143922795
    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 541
  • 014 Bio on 1 P1010252cover
    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 664
  • 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 657
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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 384
  • 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 515
  • 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 487
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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 499
  • 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 484
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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 514
  • 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 532
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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 510
  • 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 452
  • 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 465
  • 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 466
  • 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 418
  • 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 369
  • 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 411
  • 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 422
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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 565
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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 576
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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 569
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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 535
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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 561
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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 563
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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 617
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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. 516
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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 468
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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 428
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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 503
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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 480
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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 609
  • 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 622
  • 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) 595

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