e-fundresearch.com: What are your personal lessons learned from 2014 market developments?
Ronald Stöferle/Mark Valek: That the deflationary pressure within the system is far bigger than expected by the market. We can observe this by collapsing commodity prices, rallying USD, soaring bondprices and rapidly falling inflation expectations…
Hinweis: Ronald Stöferle & Mark Valek (Incrementum AG) sind Speaker
beim ARC Outlook 2015 am 21. Jänner in Wien
Europäische Aktien im Aufwind: Mit Low-Volatility- und Small Cap-Fonds effizient Marktchancen nutzen
Europäische Aktien stehen nach einem langen Dornröschenschlaf nun wieder verstärkt im Fokus der Investoren – das zeigen aktuelle ETF-Zuflüsse in diese Anlageklasse und das Verhalten großer Marktteilne...Therefore, the effort to get more money into circulation via credit expansion has at least partly failed. Demand for credit continues to be low. Bank reserves newly created by quantitative easing are parked as excess reserves with the central bank for now. QE nevertheless is not without consequences: the market-distorting effects of low long-term interest rates must not be underestimated. The already mentioned spectacular inflation of asset prices is merely a side effect of QE.
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