Welche Aktienmärkte machen nach gutem Start 2019 einen günstigen Eindruck?

21.05.2019 14:50 - Schroder Investment Management (Switzerland) AG (LUX & CH)

Welche Aktienmärkte machen nach gutem Start 2019 einen günstigen Eindruck?

Duncan Lamont beurteilt, wie sich die erstaunliche Erholung der Aktienmärkte im ersten Quartal 2019 auf die Bewertungen auswirkt.

Anleger, die mutig genug waren, während des Abverkaufs an den Märkten Ende 2018 nicht zu verkaufen, wurden in den ersten Monaten des Jahres 2019 reich belohnt.

Von den fünf Märkten, die wir regelmäßig analysieren, legte selbst das Schlusslicht Japan in diesem Jahr bislang nahezu 8 % zu (Stand: 12. April).

Großbritannien entwickelte sich mit einem Gewinn von 13,9 % am besten – ganz im Gegensatz zu den 13,7 %, die das Land im vierten Quartal 2018 eingebüßt hatte. Dies erinnert allerdings auch daran, dass aufgrund der Kumulierung ein Gewinn nicht ausreicht, um einen Verlust des gleichen Ausmaßes auszugleichen: Die Rendite in diesem Sechsmonatszeitraum betrug -1,7 % Großbritannien, Europa und die Schwellenländer legten in diesem Jahr knapp 10 % zu.

Bewertungen sind einer der wichtigsten Indikatoren für langfristige Renditen. Wer kauft, wenn die Märkte günstig sind, hat gute Aussichten. Wenn Sie bei hohen Bewertungen kaufen, machen Sie zwar nicht zwingend Verluste – die Dinge müssen aber besonders gut laufen, damit Sie Gewinne verbuchen können.

Lesen Sie hier den vollständigen Bericht:

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