What does the Gettysburg address really mean
“Always remember that determination to accomplish something is more important than anything else.” - Abraham Lincoln
This quote is from one of the greatest presidents of the United States. Abraham Lincoln was one of the four portrait heads of US presidents at Mount Rushmore who were considered particularly outstanding. He, who came from a humble background, had to endure a particularly bloody term in office in 1860: the US Civil War between the Yankees and the Confederate Southern States. The issue of slavery was at the forefront, but at its core it was about the American understanding of democracy. After many gruesome battles, the northern states clearly triumphed in the end. One of the crucial turning points was the Battle of Gettysburg. In July 1863, thousands of northern and southern nationals attacked and massacred one another in this small town north of Washington. There were innumerable deaths to mourn. This terrible event left deep scars in American history, but soon afterwards the Civil War was decided: the South only fought retreats. In April 1865 the war was finally over. But shortly before, on April 14, 1865, President Lincoln was assassinated. His special merit was that he formed the United States from a confederation into a nation. In addition, the abolition of slavery in all states has been incorporated into the US Constitution.
Lincoln was a gifted rhetorician. One of his most famous speeches was the Gettysburg Speech, which he delivered on the inauguration of the military cemetery of this small Pennsylvania town in this fateful location, which lasted less than three minutes and contains only 10 sentences in less than 300 words, but gets his message across Point and summarized the American understanding of democracy. He wanted the Americans to choose the “right” path - a new freedom without slavery. His great goal was the unity of the United States of America. "Rather, it is up to us to be dedicated here to the great task that still lies ahead of us - that these noble dead fill us with growing devotion for the cause to which they have shown the last highest degree of devotion - that we make a solemn decision here that these dead should not have died in vain - that this nation, under God, should experience a rebirth of freedom - and that the government of the people, by the people, for the people, should not disappear from the earth. " With his speech, he impressively succeeded in putting a different focus on the civil war. Today that speech is considered part of American identity. Gettysburg became a symbol of the Civil War.
Getting to the heart of things
One of the special characteristics of outstanding personalities is to clearly and understandably name the important and decisive things and to bring them to the point. To reduce to the essentials means to know what we really want and to stand up for it, to fight persistently for it and finally to act consistently. Nobody can say whether this will bring us the desired success in the end - it is by no means harmful. Without this strong will, you will probably achieve significantly less in life. That much is certain! Of course, external circumstances also play a role that no one can predict. The Battle of Gettysburg could have turned out exactly differently and the southern states could have consolidated their independence. No one could have anticipated or correctly assessed external influences and events such as the corona pandemic. And yet we humans always have a choice as to how we want to react. “There is a space between stimulus and reaction. In this space lies our power to choose our response. Our development and our freedom lie in our reaction. " This quote is from Viktor Frankl, the well-known Austrian neurologist and psychiatrist. Frankl became known through his book "... to say yes to life anyway: a psychologist experienced the concentration camp“, In which he dealt with the cruel experiences there. This recognition of our choices gives us back our inner room for maneuver, even if our external freedoms are restricted. We grow and mature in the quality of our decisions. In short: we are getting better. This also applies to investments. In this area, too, I want to keep the room for maneuver despite Corona and all external uncertainties. I'm not a plaything of circumstances - I always have a choice: buy, hold or sell.
Why are share prices rising despite Corona?
Stocks have seen a real rollercoaster ride this year. On March 18, the DAX bottomed out at 8,442 points. When the number of cases fell, the stock market also recovered to its level at the beginning of the year of around 13,250 points. But the second wave came in autumn. The number of corona cases rose dramatically again. There was a partial lockdown, with the end not yet in sight. The economy is still in a recession and nobody knows when and how much it will recover. There was a small correction in October, but overall the stock market remained surprisingly robust this time - why? In my opinion, four reasons are decisive for this:
- At some point there will be the corona vaccine. We will probably see the approval of the first drugs this year. In the coming year, vaccinations can be carried out across the board. The stock market anticipates the future. She is already looking to the time after Corona and is counting on a quick recovery.
- The central banks around the globe are flooding the markets with liquidity. Economic stimulus programs and infrastructure measures have been decided and are being implemented. The EU alone wants to provide 750 billion euros for digitization, climate protection, the expansion of health systems, research and development in the corona crisis. These are enormous sums of money that will not fail to have an impact on the economy and the economy.
- These measures are financed by taking on new debt. The financial requirements are enormous. This means that interest rates will remain low for a very long time. There is no other way to finance these debts. As a result, investors are lacking meaningful investment alternatives. This makes stocks comparatively cheap, some more and others less. It is important to pay attention to this!
- And finally, it shows that investors do not really bear the risk of market distortions, because the central banks and the states repeatedly intervene to provide support. The upswing since March has impressively demonstrated this.
As a result, we have given up the interim protection in the Corona crisis and increased the equity quota again. The gold quota will remain unchanged or increase slightly, as there will be no change in the loose monetary policy in the next year either. Even if gold is currently consolidating, it is an important building block in a robust portfolio. The portfolio structures were readjusted and prepared for the time after Corona. This includes the addition of stocks from the promising sectors as well as the value stocks, which could experience a renaissance in the event of a sustained economic recovery. 2021 could be a year of strong recovery and we are preparing for it! - "Set aside thirty minutes each day for your worries, and during that time take a nap." This quote is also from Abraham Lincoln.
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