Stock market guru
Börsenguru is the slang term for more or less qualified experts in the stock market .
General
The word is derived from the guru , a spiritual teacher in Hinduism around whom devout followers gather in search of knowledge and the path to salvation. Stock market guru was on at the stock exchange Dusseldorf active securities traders , analysts and lead brokers to Börsenunwort of 2006 elected six years after the start of the stock market crisis ( dotcom bubble ) in September 2000 on the Neuer Markt .
" Stock market gurus are temporary art products created by the public and the media " that arise when stock market movements are predicted that are hardly likely at the time of publication and cannot be understood by the stock market public, but which occur later. People appear as stock market gurus in public who regularly present their expertise via the mass media and thus achieve a level of awareness that will make them famous when their forecasts come true. Serious financial analyzes are not always based on this. Often a following of investors gathers around them who, believing in infallibility, uncritically follow the recommendations for lack of better knowledge. Therefore, generally skepticism is appropriate, especially since stock market gurus are usually not subject to advisory liability for their stock market tips .
history
André Kostolany acquired the status of a stock exchange guru through his numerous books (since 1957), columns, lectures and seminars (since 1974) on the subject of the stock exchange; however, he defended himself against this designation. In August 1993, the International Business Week dedicated a cover story to George Soros and made him a stock market guru; In March 1999, German television and newspapers focused on lead broker Dirk Müller when Oskar Lafontaine resigned as Federal Minister of Finance and the price that followed. From this point on it was photographed repeatedly to personalize the DAX stand. Since then, the not very prudent and hardly concerned about business psychology has been dubbed a stock market guru.
In April 2011, stock market guru Markus Frick received a suspended sentence for market manipulation through scalping . According to investigations by the financial supervisory authority BaFin , around 20,000 investors, on Frick's recommendation, ordered 760 million shares in the companies he recommended in the stock exchange letter . In February 2014, he received a prison sentence of 2 years and 7 months as a repeat offender . Bernd Förtsch admitted a conflict of interests in November 2013 because his stock market magazine reported on shares that he also owned himself. The Swiss Dieter Behring boasted that he had cracked the “genetic code” of stock market trading, thereby causing one of the biggest Swiss financial scandals. Behring was sentenced to 5 years and 6 months in prison for commercial fraud on September 30, 2016 (legally binding since August 2018). The financial damage he caused was estimated at 800 million francs.
Occur
Some stock market gurus appear as long-term optimists (e.g. Heiko Thieme ), others as notorious nonsenseers (e.g. Marc Faber ). The harmless among them limit themselves to lectures or TV appearances, forecast future market developments , write columns or entire books and tell anecdotes from the past.
Others try to make more financial use of their popularity (e.g. Markus Frick ). To do this, they send paid stock market letters or Internet newsletters with sample portfolios to their followers, set up paid hotlines with which they distribute buy recommendations for individual stocks with excessive price targets, with the aim of influencing the price in their favor if they possibly want these stocks have bought yourself beforehand. André Kostolany knew about them that stock market gurus often recommend exactly those stocks "that they want to get rid of themselves at an attractive price". The effect of self-fulfilling prophecy also occurs, which reinforces the impression of his infallibility among his followers. When the market trends are reversed, the stock market gurus rarely manage to adjust their forecasts in time, so that they usually drag their followers into the financial abyss.
Web links
Individual evidence
- ↑ Franz-Josef Buskamp, Mental market success , 1992, p 73
- ↑ Guido Dette, Kursbildung am deutscher Aktienmarkt , 1998, p. 138
- ↑ International Business Week, August 23, 1993, The Man who Moves Markets , p. 30
- ↑ SpiegelOnline of December 23, 2008, Stefan Schultz: Wirtschaftssymbolssymbolfotos 2008: This is what a disaster looks like.
- ↑ SpiegelOnline of April 14, 2011, TV-Börsenguru gets away with suspended sentence
- ↑ Tagesanzeiger from September 30, 2016 , accessed on September 30, 2016
- ↑ Markus C. Zschaber, Der Börse ahead , 2008, p. 40