Because they have to simplify. Every key figure hides aspects in order to make others visible. Anyone who treats them as objective truth ignores their limitations - and makes decisions on a half-baked basis
Do: Compare, combine and scrutinize key figures
Don't: Set individual values absolutely
Between the lines: What is measurable is not automatically decisive.
Because they level out differences. Different approaches, risks, time periods or objectives cannot be meaningfully squeezed onto a scale. Comparability is often claimed but rarely achieved
Do: Make comparison criteria transparent
Don't: Compare apples with oranges
Between the lines: Comparability is a promise - not a law of nature.
Because every display makes a selection. Scaling, time period, color scheme and detail have a massive influence on perception. Visualizations help with understanding, but are no substitute for analysis
Do: Use visualizations as an introduction
Don't: Consider graphics as a final evaluation
Between the lines: What looks good is not necessarily good.
Because external assessments are always filtered. Every presentation follows a perspective, a selection and implicit assumptions. Doing your own research creates distance and reduces dependency
Do: Check information from several sources
Don't: Accept assessments without checking
Between the lines: Trust begins with understanding, not agreement
Because uncertainty is an essential feature of markets. Any statement that promises security ignores risks or deliberately conceals them. Where guarantees are claimed, there is usually a lack of transparency
Do: Critically scrutinize statements
Don't: Believe promises of security
Between the lines: Security is sold, insecurity is experienced.
Because intransparency creates power asymmetries. Anyone who does not disclose decision-making logic, risks or history is not open to scrutiny. Without transparency, trust cannot be justified
Do: Demand traceability
Don't: Excuse lack of transparency with complexity
Between the lines: Complex is not what remains hidden.
Because markets do not run smoothly. A lack of fluctuations, no drawdowns or constantly rising curves contradict real market mechanisms. Risks are often shifted, delayed or concealed
Do: Also expect loss phases
Don't: View perfection as a quality feature
Between the lines: Reality is messy - representations often are not.
Because they are designed to avoid rational scrutiny. Urgency creates emotional decisions and reduces critical thinking. Quality requires no rush
Do: Make decisions calmly
Don't: Accept time pressure
Between the lines: What's good can withstand scrutiny.
Because competence is not claimed, but proven. Titles, previous successes or prominent names are no substitute for current, comprehensible decision-making logic
Do: Evaluate content, not labels
Don't: Confuse authority with substance
Between the lines: Trust is built through arguments, not status.
Because responsibility is a core component of professionalism. Anyone who blames external circumstances for mistakes shows a lack of ability to reflect - and repeats the same patterns
Do: Expect responsibility
Don't: Accept excuses
Between the lines: If you do nothing wrong, you learn nothing.
Because standing still means risk. Markets are constantly changing. Rigid beliefs and unchanging models are prone to disruption
Do: Value adaptability
Don't: Follow dogmas
Between the lines: Flexibility is not a sign of weakness.