J.P. Morgan Asset Management - The Weekly Brief

07.09.2015 11:45 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management - The Weekly Brief

Für die Aktienmärkte war es ein unruhiger Sommer. Zurückblickend wären viele Anleger

bestimmt lieber der Börsenweisheit „Sell in May and go away“ gefolgt. Der FTSE All Share

Index verbuchte seit Mai ein Minus von fast 10 %. Wenn nun in vielen Ländern die

Schulferien zu Ende gehen und die Anleger an den Markt zurückkehren, ist der Hinweis

angebracht, dass unterjährige Korrekturen dieser Grössenordnung durchaus die Regel und

nicht etwa die Ausnahme sind. So brachten in 17 der letzten 25 Jahre die letzten vier Monate

des Jahres positive Erträge. Der Durchschnittsertrag dieser positiven Perioden lag für den

FTSE All Share Index bei 0,8 %. Der aktuelle Marktausverkauf ist unserer Einschätzung nach

also kein Vorbote einer Rezession. Und wenn wir richtig liegen, hat die Vergangenheit

gezeigt, dass noch vor Neujahr Geld zu verdienen ist.

J.P.Morgan_The Weekly Brief_07.09.2015.pdf

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