Uwe Lang (Author)

Uwe Lang

Uwe Lang (* 1943 in Augsburg ) is a German financial market and stock exchange expert , author and publisher of the stock exchange information service Börsensignale, which has been published since 1987 . Through his many years of activity as a Protestant pastor , he is known in public as the "Stock Exchange Pastor ".

Life

Uwe Lang is the eldest son of a Swabian merchant family. After attending primary school and the Holbein grammar school in Augsburg , he studied theology, education and philosophy at the universities of Augustana University in Neuendettelsau , the Friedrich-Alexander University of Erlangen-Nuremberg and the Ludwig-Maximilians-University of Munich from 1964 to 1970 . With the completion of the 1st theological exam in 1970, the practical preparation time followed, the vicariate , for the later work as a Protestant pastor until 1974 in Gefrees / Upper Franconia. After completing the second theological exam, Lang worked from 1974 to 1979 as a high school teacher for Protestant religious studies in Starnberg. From 1979 until he left active church service in 1992, Lang worked as a Protestant pastor in Leipheim / Bavaria. Lang now lives near Augsburg, has been married since 1969 and has two daughters.

Lang has devoted himself intensively to the stock market since he was a student. As a passionate chess player (1975/76 Augsburg and Swabian runner-up), he was interested in recognizing the strategic relationships on the financial markets, analyzing them and implementing them in concrete trading systems. In 1986 he published his first book at Campus-Verlag with the title Der Aktienberatung , which reached 14 editions in the following years. Old stock exchange master André Kostolany judged this book: "Very good, very well worth reading, more useful than dozen other books on the stock exchange, apart from my own". The second book was published in 1988 with the title Der Börsen Adviser . Since then, Lang has written a total of ten books on the stock market and investment strategies. The latest work, Investing in Stormy Times - Investment Strategies for the Cautious , was published in May 2009.

In 1987 Lang began to write a circular, initially only for a small group, in which he assessed the situation on the financial markets and gave specific trading instructions. On the basis of his analysis, Lang recommended his readers to sell all shares in August 1987, shortly before the stock market crash of October 19, 1987, which went down in history as Black Monday . In 1988, in its February 29 issue , Der Spiegel published an article under the heading “Skill and Luck” about financial professionals who had foreseen this crash. Lang was referred to here as one of the new " gurus " of the money industry. As a result, there was great demand for his newsletter, which was then published as stock market signals from May 1988 and offered to a wide audience. Because of his success, Lang decided in 1992 to resign from active church service. From then on he concentrated on the work in his securities consultancy, which was founded in the same year and which was integrated into the Swiss asset management company Swissinvest Luzern / Weggis in 2004, for which Lang had already worked as a consultant. Since 2004, long partner is the Swiss Invest asset management and published from here the exchange signals with his Swiss partner Klaus Haidorfer. This stock market letter appears every 14 days on Mondays with a length of 16 pages. He publishes Relative Strength for 800 companies based on the concept of Uwe Lang.

Investment principles

Lang pursues value investing and the trend-following strategy in his studies and publications . In his first publications, he advocated a strategic approach to the stock market. Quotation from the book Der Aktien Adviser from 1986: "Both stock market trading and chess games are an attempt to get certain imponderables under control by means of a well-planned strategy".

Lang's strategy is based on three pillars. The first and most important approach is to determine the current state of the world stock markets in order to derive buy or sell decisions. To this end, Lang observes and analyzes various data such as bond and currency developments, interest and money market developments, developments in the commodity markets and selected stock indices. A second criterion is the determination and filtering of regions, sectors and stocks that show an upward or downward trend. This is done with the help of the relative strength, a calculation of the trend sequence. The third pillar is the fundamental analysis of the company. Unlike many analysts, Lang does not attach great importance to the price / earnings ratio (P / E), but favors the key figures of the price / sales ratio (KUV) and the price / book value ratio (P / E ). Lang is of the opinion that unlike the P / E ratio, where profits and book values ​​can be largely stretched, hidden or shifted by a skilled accountant, this is not possible with sales. He therefore regards the KUV as the most important and least manipulable fundamental indicator for stock analysis . From this the relative strength of a share is determined.

Lang found confirmation of his strategy in the 1999 book by the American financial expert and statistics guru James P. O'Shaughnessy "The Best Investment Strategies of All Time". O'Shaughnessy used extensive data to examine the last 45 years of stock market development. In the book he analyzed all known investment strategies and presented their successes over four decades. His conclusion: Relative strength is the only growth variable that consistently beats the market, and the KUV is an excellent indicator of success.

In his regular publications, Lang succeeded several times in correctly predicting past stock market crashes. During the crash of 1987 and the bursting of the dot-com bubble in 2000 , he advised to exit stocks. On the occasion of the financial crisis , he also warned of a bear market in 2008. Most recently, he predicted that the Dax would rise significantly by over 1000 points from September 2010 to early 2011.

As a columnist, Lang regularly publishes his analyzes in Smart Investor , in the business magazine Creditreform (Handelsblatt publishing group) and, since 2010, in ProfMedia-Verlag, Switzerland.

Publications and TV appearances

For many years there have been regular publications in daily and specialist magazines about Lang as well as interviews with him on current market developments. (including Süddeutsche Zeitung, KMU-Magazin (Switzerland), Report Plus (Austria), Frankfurter Allgemeine Zeitung, WirtschaftsWoche, Südkurier, Creditreform, Focus-Money, Wirtschaftsblatt (Austria), Smart Investor, Tages-Anzeiger (Switzerland)).

Lang is a frequent guest on various TV and radio programs, including ARD-Börse, N24, German Investor Television (DAF), WDR and the Börsen-Radio-Network (BRN).

Publications

• The new stock advisor: critical recommendations for beginners and advanced users. Campus-Verlag, 2003, ISBN 3-593-36991-5 .
• The stock market advisor - buy and sell stocks, foreign exchange, gold and bonds in good time. Updated edition. Heyne-Verlag, 1996, ISBN 3-453-11746-8 .
• Stress-free shares - with the month-end method, you can achieve stock market success in just one hour per month. Heyne-Verlag, 2000, ISBN 3-453-18199-9 .
• Training for the stock market - recognize stock market trends in a playful way and use them correctly: with optimal timing for investment success. Campus-Verlag, 1998, ISBN 3-593-36073-X .
• Stock market knowledge in a nutshell - the 150 most frequently asked questions - and 150 monetary answers. 3rd, updated and revised edition. Campus-Verlag, 2009, ISBN 3-593-38811-1 .
• (with Friedhelm Busch, Werner Esser, Werner Schwanfelder): Börsenlexikon. Campus-Verlag, 2000, ISBN 3-593-36567-7 .
• The Most Dangerous Stock Market Traps - And How To Avoid Them. 2nd, completely revised and updated edition. Campus-Verlag, 2007, ISBN 978-3-593-38394-1 .
• The best equity strategies. Finanzbuch-Verlag, 2005, ISBN 3-89879-112-2 .
• Investing in Stormy Times - Investment Strategies for the Cautious. Campus-Verlag, 2009, ISBN 978-3-593-38952-3 .

Web links

Commons : Uwe Lang  - Collection of images, videos and audio files

• Literature by and about Uwe Lang in the catalog of the German National Library
• Homepage of the stock exchange signals / Swissinvest
• Homepage Campus-Verlag

Individual evidence

1. ↑ SPIEGEL Issue No. 9, 1988 . Article: skill and luck. Retrieved January 20, 2010.
2. ↑ Stock market letter portal: Bernecker, Platow, Frankfurter, Prof. Otte and many more. Accessed July 7, 2020 . 
3. ↑ Explanation of Uwe Lang's investment strategy  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. (PDF; 22 kB). Stock market signals website. Retrieved January 20, 2010.  
4. ↑ Stock market letter portal: Bernecker, Platow, Frankfurter, Prof. Otte and many more. Accessed July 7, 2020 . 
5. ↑ I sold all of my shares (PDF; 1 MB). Zürcher Tages-Anzeiger from April 14, 2000. Retrieved January 20, 2010.
6. ↑ The next stock market crash will come in summer 2008 . Wirtschaftsblatt of October 25, 2007. Retrieved January 20, 2010.
7. ^ A pastor - perhaps the best German stock market expert? ( Memento of the original from May 29, 2011 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. . Hankes Börsen-Bibliothek, Wirtschaftswoche blog from May 23, 2011. Retrieved June 8, 2011. 
8. ↑ No money makes you unhappy ( memento of the original from February 13, 2010 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. . In: Süddeutsche Zeitung. Let's Talk About Money series, Oct. 8, 2009. Retrieved January 20, 2010; Recognize and evaluate exaggerations on the stock market (PDF; 499 kB). KMU-Magazin No. 8, Finances & Pensions, October 2009. Accessed on January 20, 2010; Only buy what you understand . FAZ of August 17, 2009. Retrieved January 20, 2010; Dangerous stock market traps . Focus-Money No. 42, 2007. Retrieved January 20, 2010; Investors torn back and forth (PDF; 957 kB). Südkurier on July 16, 2010. Accessed July 22, 2010; 43 percent of the Dax would be in it . WirtschaftsWoche of September 22, 2010. Retrieved January 27, 2011; Shares not overpriced (PDF; 1.1 MB). Südkurier on December 10, 2010. Retrieved January 27, 2011; 20 percent are still possible . FAZ of December 30, 2010. Retrieved on March 4, 2015; The fundamental situation is undoubtedly still very good (PDF; 852 kB). Wirtschaftsblatt of February 26, 2011. Accessed April 10, 2012; The risk of further setbacks increases (PDF; 199 kB). WirtschaftsWoche No. 25 of June 20, 2011. Retrieved on April 10, 2012; The stock market has exaggerated massively . Balance sheet No. 17 dated September 23, 2011. Accessed April 10, 2012; Shares are undervalued (PDF; 1.2 MB). Südkurier of December 8, 2011. Accessed April 10, 2012; Ethical investment - Avoid consumer products rather than stocks . WirtschaftsWoche from April 6, 2012. Accessed April 10, 2012; An investment advisor as a chaplain . Tages-Anzeiger of October 5, 2012. Retrieved October 23, 2012; At the moment I don't see any risk of a crash (PDF; 1.5 MB). Wirtschaftsblatt October 19, 2012. Accessed October 23, 2012. 
9. ↑ Uwe Lang on the stupid Mammon . WDR5. December 31, 2009. Accessed January 20, 2010; Uwe Lang in conversation at Jünemanns Börse . German investor television. October 12, 2009. Accessed January 20, 2010; Conversations with Uwe Lang . Exchange Radio Network. June 24, 2010. Accessed June 25, 2010; Greed, conscience and profit, Uwe Lang visits N24  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. . N24. January 10, 2010. Accessed February 22, 2010; Be fully invested - Dax can rise above 9000 . German investor television. December 14, 2010. Accessed January 27, 2011; A crash does not threaten again until 2014 . German investor television. October 19, 2012. Retrieved October 23, 2012.