Blog

Latest posts

Updated posts

Latest posts

May 4, 2026

Portfolio Evaluation for Passive Investors: Eleven Simple Rules

We list eleven simple basic rules for portfolio evaluation and benchmarking for passive investors.

March 17, 2026

From rich to poor happens more often than you think

We show why rich and super-rich families often become poor again within one to three generations.

February 23, 2026

Precious metals as an admixture – does that make sense?

In this blog post we show how well the four precious metals gold, silver, platinum and palladium can be added to a stock portfolio.

House made of coins and 100 euro note balanced with model house on wooden board

January 20, 2026

“Homeowners are wealthier than renters in old age” – lies with statistics

In this blog post we show why the oft-heard statement is not true.

December 16, 2025

Financial forecasts – why they do more harm than good to investors

In this blog post, we explore why prediction-based investing is practiced even though it works poorly.

November 12, 2025

Can stock prices rise forever?

In this blog post we answer the question of whether stock prices can “rise forever”.

All posts

Updated posts

We strive to always keep our content up to date. That's why we regularly revise our older blog posts. Below you will find all updated posts.

Person takes money from an ATM; A 100 dollar bill is visible.

February 1, 2019

Depot withdrawals: myths and misunderstandings

In this article we clear up common misconceptions about how to organize distributions or withdrawals from a portfolio.

Variety of US dollar bills laid out flat.

January 24, 2018

Currency hedging: when does it make sense and when does it not?

When and under what circumstances does currency hedging make sense and when does it not.

Close-up of shiny gold bars stacked in parallel orientation.

November 1, 2019

Gold as an investment – do you need it?

In this article we look at gold as a possible addition to private investor portfolios.

Posts by category

Active investing

View of the New York Stock Exchange with flags, people passing by and a statue in the foreground.

October 31, 2023

Investing in IPOs – a losing bet

In this article we explain why IPO stocks are usually unattractive investments.

Several 100 dollar bills arranged in a fan shape on a white envelope.

March 5, 2021

Ray Dalio's hedge fund - the paint is off

In this article we show that Ray Dalio's hedge fund has been underperforming a simple passive ETF benchmark for 16 years.

Compass on a newspaper page with financial data.

September 21, 2018

The questionability of individual stock investments

Most private investors are better off investing in stocks with funds than with investments in individual stocks.

Asset classes

Woman looking at two paintings in a museum.

May 20, 2025

Art: An attractive form of investment?

In this article we show how art brokers distort the returns on art upwards and the risk downwards.

Building with the German flag on the roof against a dramatic cloudy sky at sunset.

March 6, 2020

Capital-forming life insurance – a German wrong turn

In this article we look at cash-value life insurance, its disadvantages and the reasons for its enormous popularity.

Woman in a white convertible with feet on the dashboard in front of a private jet.

April 2, 2021

Private equity – desire and reality

In this article we show that the return-risk combination of private equity has been disappointing over the last 30 years.

Factor investing

Light bulb lies glowing on a wooden table with warm light.

May 3, 2019

Factor investing – the basics

We'll look at how factor investing works and explain what needs to be taken into account.

Moody close-up of a light bulb on a dark background, with warm lights in the background.

June 7, 2019

Integrated multifactor investing

We show what options there are for implementing factor premiums in multifactor investing in an investor portfolio and which solution we prefer.

May 1, 2020

The Pains of Factor Investing

A factor investing strategy can underperform a market-neutral portfolio for years. We show what conclusions should be drawn from this.

Investment mistakes

Close-up of a gravestone with a raised green R.I.P. inscription on a dark stone.

August 7, 2024

The short life expectancy of companies

In this article we analyze the importance of the short life expectancy of companies for private investors.

Male hand marks appointments on a paper calendar with a pen.

March 1, 2019

Waiting for a cheaper stock market – does it work?

We are testing a market timing strategy that should make it possible to enter the stock market at cheaper prices.

Candlestick chart with falling price trend and multiple moving averages on black background.

December 8, 2023

GameStop Effect: Is It Smart to Bet Against Short Sellers?

In this article, we'll show you why it's unwise to buy or hold stocks that are heavily shorted by hedge funds.

property

Illustration of a man trying to move heavy blocks with a lever bar.

November 4, 2022

Leveraging stock investments with credit – does it work?

We show that leverage when investing does more harm than good and give concrete advice on how a stock portfolio could be leveraged.

Close-up of many control levers with blue handles on a rust-colored industrial control panel.

November 4, 2024

The credit leverage myth in real estate

In this blog post we show that the credit leverage effect in the real estate industry is often presented in a manipulatively positive manner for marketing reasons.

Large single-family home with a garden under a blue sky.

October 12, 2018

The return on investments in real estate

The topic is the challenges and misconceptions regarding the long-term historical returns of the residential real estate asset class.

counselor

Woman with snorkel swims underwater in the open sea.

June 3, 2022

Bonds and interest rate changes – a case study

We use specific ETFs to show how interest rate increases affect the bonds asset class.

March 6, 2024

“Safe Asset Floor Rebalancing”: An alternative rebalancing approach

In this article we present an alternative rebalancing method for passive investors.

Luxury yacht sails on the open sea, accompanied by two jet skis.

August 7, 2020

The big difference between getting rich and staying rich

Different success factors apply to becoming rich and staying rich. We show which ones and why they differ greatly from each other.

Posts by keyword

Crash

Firefighters extinguish a large fire with water in a dark environment.

July 2, 2021

How the prophets of doom invest

In this article we look at four well-known German prophets of doom and their investment recommendations.

Representation of planet Earth with a green face mask.

March 24, 2020

The Corona crash: what to do?

In this article we look at the action-oriented implications that the current Corona crash has for private investors.

Bronze statue of the Charging Bull on Wall Street with tourists in the background.

July 7, 2025

The resilience of the global stock market

In this blog post we analyze the resilience of the global stock market over the 125 years from 1900 to the present.

Market Timing

Shoe stepping on a brown speckled banana peel on a brown tiled floor symbolizes a dangerous situation.

September 4, 2020

Ten big investor mistakes

We highlight ten particularly serious investor mistakes and focus on those that are not “well-known”.

Child jumps from a cliff into the blue sea.

July 3, 2020

Entry into the stock market: one-time investment or phased investment?

Should you invest a large sum of money in the stock market all at once or is it better to enter in several tranches over a longer period of time?

Burning grassland with thick smoke on a river bank under a cloudy sky.

February 4, 2022

“Equilibrium Accounting” – a smart thinking concept for investors

In this article we look at equilibrium accounting and show how private investors can use this piece of investment logic for themselves.

risk

January 4, 2019

The concept of “cash flow cascade”

The concept of the “cash flow cascade” helps to understand perhaps the most fundamental driver of risk in the asset classes of stocks, bonds and real estate.

December 8, 2023