LIVING MOMENTS N° 8

A headline recently caught my eye: “Just switch off? This constant availability is a curse“. Have we already reached the point where we have to let the law dictate when we switch off our mobiles? Have we already reached the point where excitement has to be treated like high blood pressure? I wouldn’t dream of complaining about the benefits of modern technology. We all benefit from it. However, if we don’t look after ourselves, we will become a part of a “Just-in-time“ society. There used to be a daily newspaper, in which you could read the share prices from the day before (if you had any shares). And it even included an official closing price. It was obvious that banks with investors, who did not make any transactions, earned little. Therefore the era of “investment consultancy” dawned. Investment tips were exchanged on a daily basis for free, to be in a position to conclude as many and as high purchases and sales as possible. This filled the broker’s pockets. And on certain occasions it was also quite advantageous for the clients … And then suddenly the “Ticker“ appeared on TV – the conveyor belt for the stock exchange, which showed constantly changing prices. A striking symbol for a breathless voice to all investors – now, now, now, you have to be in on it – you’ve missed out again! This situation led to the actual purpose – setting up and maintaining assets – being pushed more and more into the background. Speculating becomes the end in itself, a quick win lifts your mood, a loss ruins your day – but tomorrow you have another chance! Rash, restless, always agitated we follow the events and fear that any hiccup in world politics could have an effect on the assets (just to be sure look at ZÜRCHER KANTONALBANK ÖSTERREICH AG 82 Living Moments BORING IS GOOD A plea for an unexciting investment strategy by Hermann Wonnebauer, CEO of Zürcher Kantonalbank Österreich AG »Für mich beginnt TOP-Banking erst an einem Punkt, an dem viele unserer Mitbewerber schon wieder damit aufhören« »In my opinion TOP-Banking only begins where most of our competitors have already stopped.« HERBERT LINDNER Direktor Private Banking, Leitung/Management Salzburg EDITION N°8 • 2022/2023

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