Overview

Prosperity is a basis, but not a model for shaping life. It is even more difficult to keep it than to acquire it. Ludwig Erhard, former Federal Chancellor, father of the economic miracleAfter a lecture in Stuttgart, one of the listeners said to me: Now you've told us a lot of interesting things, but you still haven't told us how to get rich quickly. I replied: Unfortunately, I can't tell you how You get rich quick. But I can tell you how to get poor quickly: by trying to get rich quick! This book does not teach you how to get rich quick either. But you will receive information on how you can achieve more returns on your investments with less effort and less risk - and you can sleep soundly at the same time.Early in my wealth management career, a friendly investment banker suggested I invest in American interest rate futures. At that time the world was in a high interest rate phase and this speculation relied on falling interest rates. With these contracts one could win a lot with little capital investment if the speculation worked. If not, you could lose a lot. The latter happened: I lost money because initially interest rates continued to rise. The speculation worked, but only later, when I had already got out at a loss. In a sense, this was my best investment because it has shaped my risk awareness to this day and taught me not to think about profits first when investing, but rather how to avoid losses.Why am I writing this book and why now?

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