Prof. von Nitzsch in FOCUS-Online interview about financial investments
Prof. Rüdiger von Nitzsch of the Chair of Decision Theory and Financial Services spoke in an interview with Focus-Online about how to make reflective decisions on the capital market in times of crisis with high market fluctuations.
In the interview, Prof. von Nitzsch explains that making reflective decisions is not always easy, as a number of decision errors can be made. Furthermore, it is important to formulate clear goals in order to facilitate decision making. The online tool Entscheidungsnavi, developed by the chair, also helps with this.
Also when investing money, you should first ask yourself why you want to invest money and pay particular attention to typical investment mistakes, says Prof. von Nitzsch. Using the example of neobrokers, he explains that customers of neobrokers can certainly earn quick money, but the risk of loss is high. The decision to go into neobroking, however, depends above all on the personal situation and personal goals.
In times of crisis with high market fluctuations, it is unsafe, especially for inexperienced private investors, to invest money without reflective decisions and prior knowledge of the market. However, Prof. von Nitzsch explains that with more and more robo-advisor offerings, it is possible to bring in one's reflected goals, ideas and values in order to individually design the investment strategy.
Click here to read the whole interview.