The Limited Times

Now you can see non-English news...

Stock boom drives hundreds of thousands to the stock market: The new trading republic of Germany

2020-10-31T20:29:32.319Z


Hundreds of thousands invested in the stock market for the first time during the Corona crisis. Low interest rates, tech stocks rally and radically simple smartphone brokers like Trade Republic are luring them. But greed and herd instinct often prevent a meaningful accumulation of wealth.


Icon: enlarge

As if in a frenzy:

 Manager 

Nikolai Wertz

 started with Trade Republic at the end of March.

In the end, he checked the app every two minutes, 16 hours a day.

He lost tens of thousands of euros in the process.

Photo: Dominik Asbach for manager magazin

When Nikolai Wertz can no longer endure the corona lockdown at the end of March, he makes the most expensive decision of his life.

The 46-year-old team leader at an energy company who has never traded stocks before opens an account with the online broker Trade Republic.

Trading via smartphone gives Düsseldorfers the thrill they lack in the home office.

And it distracts from his marriage, which has been in crisis for a long time, which breaks up during this time of being locked up together in a constant dispute.

Wertz, whose real name is known to the editors, is getting in cheaply, while the Dax drops from more than 13,000 to less than 8500 points.

He buys Thyssenkrupp at a price of EUR 3.70 and sells it two weeks later for EUR 6.

Then he starts trading German stocks every day.

"Always the ones who liked the most and who said something to me," he says during a conversation in a bistro at the end of September.

Of course he also makes losses, so he increases the stake.

Soon he was speculating with certificates, the leverage effect of which multiplied profit and loss.

Eight times he bets like this on Tesla, eight times he loses, a total of several thousand euros.

He gambled away 6,000 euros with a leverage certificate on the gold price.

"Price threshold exceeded - puff".

Continue reading with

Understand economy.

Achieve more.

Exclusive insider stories, trends and backgrounds.

Your advantages with manager magazin +

  • Icon: Check

    All articles on manager-magazin.de

    Exclusive research by the editorial team and the best of "The Economist"

  • Icon: Check

    Read the manager magazine

    as an app and e-paper - on all your devices

  • Icon: Check

    Try one month for free

    Cancel anytime online

    All articles in the manager app

    for only € 24.99 per month

One month for € 0.00

Try now for 0.00 € Buy nowArrow to the right

Already have a digital subscription? Register here

Restore iTunes subscription

manager + is processed via your iTunes account and paid for with a purchase confirmation.

24 hours before it expires, the subscription is automatically renewed for one month at the current price of € 24.99.

You can cancel the subscription at any time in the settings of your iTunes account.

In order to use manager + outside of this app, you must link the subscription to a manager ID account immediately after purchase.

With the purchase you accept our general terms and conditions and privacy policy.

Source: spiegel

All news articles on 2020-10-31

You may like

News/Politics 2024-03-15T17:05:37.658Z
News/Politics 2024-03-27T13:15:35.086Z

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.