WELT:

Mr. Ehrhardt, you have been professionally active in the capital markets for over 50 years, with your own asset management for over 45 years.

Have you ever seen such a turbulent year on the stock market as 2020?

Jens Ehrhardt:

To be honest, 1987 was even more impressive for me.

But that has to do with the fact that I saw for the first time how the courses fell by 40 percent in a very short time.

But of course 2020 was also extremely exciting.

WORLD:

Although in the end it wasn't that bad for investors.

The crash was followed by a rapid recovery, and today most indices are where they were at the beginning of the year or even above.

Ehrhardt:

That's true, and of course that's mainly due to the reaction of the central banks.

WELT:

So you expect prices to continue to rise.