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Anlegerverhalten: Eigeninitiative und Sicherheitsdenken sind Trumpf

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Die traditionelle Finanzmarkttheorie sieht in dem Kapitalanleger einen rational handelnden Nutzenmaximierer. Eine realitätsnähere Erklärung des Anlegerverhaltens bietet die Behavioral-Finance-Forschung. Deutsche Anleger haben traditionell ein hohes Sicherheitsbedürfnis. Dies manifestiert sich in einem geringen Aktienengagement.