last Friday and Saturday we hosted the 4th Zurich Business Forum, our 2-day-event with a focus on marketing and finance. Of the two keynote speakers we invited, Uli Veigel (marketing) and Dr. Konrad Hummler (finance), especially K. Hummlers lecture was looked forward to with great expectations also due to recent occurences.
I would like to quickly summarize the key points of his speech.
In a remarkable opening he stated that the financial system grew too big and has to shrink. This, he added, would help the so called real economy to gain. He considered the current crisis as more than only a financial crisis but a crisis of collateral and urged that the definition of property rights is crucial for the economy.
An important question, of course, was the question whether there could be a domino effect further to the ‘Greece’-problem which he denied. Talking about finance and states he also analyzed the development of the growth relation between the real economy and both states and the financial industry. In this matter he sees a clear decoupling of the corporates which is definitely positive.
He concluded his lecture with a few remarks on how to invest and spoke clearly for the real assets (equities) and not the nominal assets.
I would like to repeat my sincere thank to Konrad Hummler for his participation, but I also yield the mentioned Uli Veigel and all the other speakers thanks.