When share prices plummet, the hour of the hedge fund superstars has come.
One of them is
Ken Griffin
, whose US hedge fund
Citadel
has around $51 billion under management.
Since 1990, Griffin has given its investors an average return of 19 percent per year.
Only in two years he reported losses.
Griffin says: "The next few months are going to be incredibly tough."
The Citadel founder is betting on further price drops on the stock exchanges.
In the end, he almost always earned excellent money from the crashes.
His method: He bunkers capital and secures his positions with futures contracts.
And then stand there with full pockets on the day when no one wants to buy anymore.
Then Citadel will strike again this time.
Private investors can now benefit from the experience of the multi-billionaire.
Griffin's victories reveal what is important to successfully invest against the trend.
One of Griffin's rules of success is: Trust yourself, not the supposed experts.
Trust mathematical models, not your emotions.
And also: Make sure you have enough reserves and take advantage of the weaknesses of others.
Our colleague Mark Böschen describes in detail how private investors can emulate Griffin's strategy for success - and in this way protect their money and capitalize on the crisis.
The business news of the day:
No more combustion engines from 2035: From 2035,
the EU countries want to only allow new cars without CO2 emissions.
The energy and environment ministers of the EU agreed on this on Wednesday night.
At the insistence of Germany, the agreement leaves open the possibility that new cars with combustion engines powered by so-called e-fuels can also be registered after 2035.
This "set the course for more climate protection," said Federal Environment Minister
Steffi Lemke
.
Chaos at the airports:
So far only North Rhine-Westphalia has started the summer holidays.
But there are already hours of waiting at the airports because there are not enough workers at check-in and baggage handling.
The federal government now wants to facilitate the deployment of auxiliary workers from abroad.
Minister of Labor
Hubertus Heil
and Minister of the Interior
Nancy Faeser
confirmed that there should be quick residence and work permits, but no compromises on security.
In addition, the assistants - especially helpers from Turkey - would have to be paid according to the collective wage agreement.
What else kept us busy:
Apple's attack on fintechs:
With a new payment system,
Apple
is competing with the hyped "Buy Now, Pay Later" services.
The tech giant already has clear advantages over young companies like
Klarna
and Co. Even giants like
Paypal
have to fear Apple's entry into the financial business.
Our colleague Sina Osterholt describes how Apple boss
Tim Cook
wants to expand the lucrative payment business.
The personality of the day:
Gorbach is planning big things: Andreas Gorbach, Chief
Technology Officer at
Daimler Truck,
is managing the electric offensive of the world's largest truck manufacturer.
By 2030, up to 60 percent of the new truck fleet at Daimler Trucks should be CO2-neutral.
Gorbach is therefore pushing ahead with electrification.
His next plan: a giga factory for battery cells.
One possibility would be partnerships with specialists such as CATL from China, Northvolt from Sweden or LG from Korea in order to jointly develop the cells of the future - or perhaps to build them together.
The decision as to whether Daimler will produce cells in the future is expected to be made this year.
My recommendation for the evening:
Swap career for care work:
Bosch top manager
Vera Schneevoigt
has resigned.
She gave up her corporate career at the age of 57 to look after her parents and in-laws.
"One half was impressed by my decision, the other half was shocked," says Schneevoigt in the Harvard Business Manager podcast.
"I found that men my age in particular didn't think twice about whether they would ever be willing to take care of their parents."
Find out how Schneevoigt is planning the transition in our leadership podcast.
Have a listen!
Cordially, your Kai Lange