click for larger graphic


I mentioned this de Spiegel article in the reads, but I found this graphic quite fascinating, having nothing whatsoever to do with the fact my last name is Ritholtz or I have a business trip to Berlin next month.


Crisis Pushes Down Returns Big Investors Don’t Know Where to Put Their Cash
Sven Böll and Martin Hesse
De Spiegel 06/05/2012

Category: Bailouts, Credit

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

12 Responses to “What Germans Own”

  1. mathdock says:

    Barry, it’s clear that it isn’t because your last name is Ritholtz: “de Spiegel”?? How gauche. How utterly French. Of course you’ll admit to no more than a typo, but have a real good time there, and don’t call yourself ein Berliner…..;-)

  2. DrungoHazewood says:


    I checked my family tree, so if you meet any Blankenscheins give them a holla, but be sure to keep the Wunderlichts and Furtwanglers at arms length.

  3. super_trooper says:

    Berlin again?
    It’s time you visit the actual financial center of Germany and ECB, the provincial capital of Hessen, Frankfurt. If you’re looking for wealth in northern Germany, I would strongly recommend one of the richest provinces in Europe, Hamburg.

  4. isolde100 says:

    I was in Berlin for 3 weeks last month. What’s distressing is the number of restaurants still serving and proudly advertising fried liver with potatoes. I understand if people in Berlin ate this 50-80 years ago, but today?

    Recommendation for an Italian restaurant in Berlin Mitte: Hartweizen on Torstrasse 96. It was recommended to me by an Italian DJ who misses his native food (he is from Bari, Italy). The chef of Hartweizen is also from Bari. Food is marvelous and inexpensive. Excellent service. Other Italian restaurants in Berlin serve “Italian food for Germans” at much higher prices. And do not miss the ice cream at Eis Manufaktur (1 EUR to 1.20 EUR per scoop). There are several outlets around the city. Amazing, fresh ice cream. They change flavors every day. Reminds me of Il Laboratorio del Gelato in NYC.

    Berlin suffers from a brain drain. The smartest, best educated young people move to West Germany. There is a small tech startup scene in Berlin but the VCs are in Munich. Potsdam is beautiful, worth a side trip to see the Sanssouci Palace, but the weird thing is its full of old people and scary tattooed unemployed youth.

  5. Iamthe50percent says:

    Fried liver with potatoes is good for you. Thanks for the tip about Hartweizen. Most Italian Restaurants seem to be on a Tuscan kick and it’s always good to get a rec on a Southern Italian restaurant.

  6. end game says:

    Don’t know if it’s what you were referring to, but I am fascinated that only 700 billion of 4.7 trillion is in risk investments.

  7. kaleberg says:

    Does this include the German equivalent of Social Security and indirect holdings on behalf of their pension plans? If I remember correctly, the Germans still have a government retirement system and many have employer paid pension plans.

  8. stuhlmann says:

    Is real estate captured under “other investments” or “other assets”?

  9. olddogDALTX says:

    Precisely my question. Where does the value of owned and titled assets fit in this graphic?

  10. gordo365 says:

    Whoever put together the graphic forgot to include the “Risk on” box.

    What about derivatives? And Tercivites? And Quadivites? How can they function without them?

  11. Daniel says:

    Brain drain is still a problem for many parts of East Germany, but definitely not for Berlin anymore. There are nowadays more people moving to Berlin than leaving.

    Berlin now has the biggest internet startup scene in Germany and arguably even in Europe (including London). It is true that there are still far more venture capitalists and other financiers in London and maybe also in Munich, but some started to move to or opened an office in Berlin and many regularly fly to Berlin anyway.

    Berlin is very attractive for students / young entrepreneurs from other countries. One reason is that Berlin has four big universities, other reasons are its rich cultural life, its internationality and the still very low cost of living compared to other capitals. This makes the city interesting for artists, designers, startups and masters in the art of living.

    Berlin suffered from de-industrialisation after the war, but in some way this might now even be helpful for the internet/hightech startup community (low costs, openness for new developments, etc.).