Der größte Irrtum über Aktien & ETFs // Gerd Kommer

Summary

In this informative video, Timo hosts Gert, the author of 'ETF-Bibel', to discuss investment strategies and misconceptions. They delve into the concept of 'via negativa', emphasizing avoiding bad financial decisions and habits. Gert surprises viewers by challenging the 'buy and hold' strategy, advocating for the timely sale of underperforming assets. The conversation covers diversification, the importance of reviewing portfolios, and behavioral finance, highlighting the emotional impact of losses. Timo also announces a giveaway of Gert's new book edition, encouraging viewers to participate by commenting with #koma. The discussion aims to provide valuable insights for long-term wealth building and risk management in investing.

Takeaways

• 📚 Gert Komm, the author of 'ETF-Bibel', discusses investment strategies and risk management in an extended edition of his book.
• 🤔 The common belief that selling off bad investments quickly is always the best move is challenged, with Gert suggesting a more nuanced approach.
• 🌐 The importance of a long investment horizon is emphasized, suggesting that stock market risks can be smoothed over time but not necessarily eliminated.
• 🔢 The concept of 'via negativa' is introduced, which focuses on avoiding bad decisions and habits in investing, rather than solely making good ones.
• 🎯 Diversification is highlighted as crucial, but the script challenges the belief that having more than 30 stocks in a portfolio offers no additional benefit, suggesting that true diversification requires a random selection of assets.
• 📉 The discussion touches on behavioral finance, explaining how losses hurt twice as much emotionally as gains, which influences investment decisions.
• 🧐 The ability to endure risk is presented as something that can be learned through knowledge and experience, rather than being an innate trait.
• 📈 Historical market data is used to argue that global stock market crashes have always been followed by recoveries within a few years, providing comfort to long-term investors.
• ⏳ The script debunks the myth that stock market risk decreases with investment time horizon, stating that the relationship is more complex and depends on the type of risk measured.
• 💡 The importance of regularly reviewing and adjusting one's investment portfolio based on life changes and increased understanding of investment risks is suggested.

Q & A

What is the main topic of discussion in the video with Gert Komm?

The main topic of discussion in the video is whether one should sell off bad investments as quickly as possible when they are in the red, and the concept of 'via negativa' in investing.

What is the 'via negativa' concept in investing?

'Via negativa' is a mental concept that suggests that to be successful in any discipline, one must not only make positive decisions but also avoid negative ones, such as eliminating bad financial products or habits.

What is the author Gert Komm known for?

Gert Komm is known as the author of the 'ETF-Bibel' (ETF Bible), a guide on investing with index funds and ETFs, which has been recently released in an expanded edition.

What is the role of diversification in a portfolio according to the discussion?

Diversification is considered the only 'free lunch' in investing, as it helps in managing risk by spreading investments across various assets.

What is the importance of reviewing one's investment portfolio?

Reviewing one's investment portfolio helps in avoiding investment mistakes and ensuring that the investments are aligned with the investor's financial goals and risk tolerance.

What is the 'buy and hold' strategy mentioned in the video?

The 'buy and hold' strategy refers to a long-term approach to investing where one stays loyal to their investments, especially in good financial products, and does not sell off quickly when they are in the red.

Why is it suggested to sell off bad investments quickly according to the 'via negativa' concept?

According to 'via negativa', it is important to avoid negative outcomes, which includes getting rid of bad investments to prevent further losses and to reinvest the freed-up capital in sensible opportunities.

What is the significance of the book 'ETF-Bibel' in the context of the video?

The 'ETF-Bibel' is significant as it provides guidance on investing with ETFs and index funds, and the discussion in the video builds upon the concepts and strategies outlined in the book.

What is the role of behavioral finance in the context of investing?

Behavioral finance plays a role in understanding how emotional factors, such as the pain of losses, can influence investment decisions and behaviors.

How does the discussion around 'via negativa' relate to the concept of risk in investing?

The 'via negativa' concept emphasizes the importance of avoiding negative outcomes and making wise decisions to manage risk, which is a crucial aspect of successful investing.