{"data":{},"content":[{"data":{},"content":[{"data":{},"marks":[],"value":"„Ich will sofort leben und habe keine Zeit zu warten“, schrieb der Philosoph ","nodeType":"text"},{"data":{},"marks":[{"type":"bold"}],"value":"Jean-Paul Sartre","nodeType":"text"},{"data":{},"marks":[],"value":" in seinem 1945 erschienenen Roman „Zeit der Reife“. Sartres Protagonist sieht sich darin an einer Weggabelung seines Lebens. Die große Frage ist, wie er damit umgehen wird.","nodeType":"text"}],"nodeType":"paragraph"},{"data":{},"content":[{"data":{},"marks":[],"value":"Investoren geht es oft wie Sartres Protagonisten. Sie müssen fortlaufend unter Unsicherheit ihr Kapital allokieren. Auch das derzeitige Marktgeschehen ist ein „Reifeprozess“, sagt ","nodeType":"text"},{"data":{},"marks":[{"type":"bold"}],"value":"Joachim Schallmayer","nodeType":"text"},{"data":{},"marks":[],"value":", Leiter des Bereichs Kapitalmärkte bei der ","nodeType":"text"},{"data":{},"marks":[{"type":"italic"}],"value":"Dekabank","nodeType":"text"},{"data":{},"marks":[],"value":". Seit Wochen schichten Investoren ihre Aktienpositionen um. ","nodeType":"text"}],"nodeType":"paragraph"},{"data":{},"content":[{"data":{},"marks":[],"value":"Diese Umschichtung ist mehr als eine kurze Momentaufnahme. Das Marktumfeld deutet nicht darauf hin, dass die großen Technologie-Werte bald schon wieder die dominanten Performancetreiber werden. Stattdessen gibt es eine ","nodeType":"text"},{"data":{"target":{"metadata":{"tags":[],"concepts":[]},"sys":{"id":"4lPn7Z5OsbqvRi9BjYsJqY","type":"Entry","createdAt":"2026-02-10T16:48:52.728Z","updatedAt":"2026-02-10T17:12:10.470Z","publishedVersion":25,"revision":3,"contentType":{"sys":{"type":"Link","linkType":"ContentType","id":"linkInternal"}},"locale":"de"},"fields":{"id":"TGluay1UR2x1YXkwMGJGQnVOMW8xVDNOaWNYWlNhVGxDYWxselNuRlo","title":"Die Rückkehr der Marktbreite ","type":"internal","contentType":"article","urlParams":[],"utmParams":[],"content":{"slug":"rueckkehr-marktbreite-globale-aktien-ki-2026","brandSlug":"thepioneer-expert"}}}},"content":[{"data":{},"marks":[],"value":"Rückkehr der Marktbreite","nodeType":"text"}],"nodeType":"entry-hyperlink"},{"data":{},"marks":[],"value":", wie beispielsweise die Entwicklung des S&P 500 im Vergleich zum S&P 500 Equal Weight zeigt. ","nodeType":"text"}],"nodeType":"paragraph"},{"data":{"target":{"metadata":{"tags":[],"concepts":[]},"sys":{"id":"4n6Vq3aSdx6PSnl3Ivubzu","type":"Entry","createdAt":"2026-02-23T15:35:23.419Z","updatedAt":"2026-02-23T15:36:09.221Z","publishedVersion":3,"revision":2,"contentType":{"sys":{"type":"Link","linkType":"ContentType","id":"infoGraphic"}},"locale":"de"},"fields":{"title":"Die Wachablöse","description":"Entwicklung des S&P 500 und des S&P 500 Equal Weight seit Oktober 2025, Werte indiziert","media":{"sys":{"type":"Link","linkType":"Entry","id":"5H7NdxXrZjbuA8OCEJD8Ox"},"fields":{"id":"SW1hZ2VXaXRoTWV0YS01SDdOZHhYclpqYnVBOE9DRUpEOE94X19fMzIzMjE3ZjY0M2MzZTNmMWZlNzUzMmU3MmFjMDFiYjA3NDhjOTdiZQ","url":"//image-service.thepioneer.de/show/mj324dykhxwi/2npWi4bg2Td9tLRPD46deL/220f542ccc9c185d77ef4cc52eb2135d/Die_Wachabl_se_no_header.png","preview":"","width":1472,"height":1732,"assetId":"2npWi4bg2Td9tLRPD46deL","link":null,"title":"Die Wachablöse","fileSize":1250311,"contentType":"image/png"}},"slug":"die-wachablose-emgsaa","download":{"metadata":{"tags":[],"concepts":[]},"sys":{"space":{"sys":{"type":"Link","linkType":"Space","id":"mj324dykhxwi"}},"id":"3GEcsmZjtdWYOpJOPMJutt","type":"Asset","createdAt":"2026-02-23T15:35:16.592Z","updatedAt":"2026-02-23T15:35:16.592Z","environment":{"sys":{"id":"master","type":"Link","linkType":"Environment"}},"publishedVersion":2,"revision":1,"locale":"de"},"fields":{"title":"Die Wachablöse","file":{"url":"//images.ctfassets.net/mj324dykhxwi/3GEcsmZjtdWYOpJOPMJutt/2229c8056731125e9aaff601c56ef89d/Die_Wachabl_se_with_header.png","details":{"size":1311142,"image":{"width":1600,"height":2132}},"fileName":"Die_Wachabl_se_with_header.png","contentType":"image/png"}}},"tags":[{"metadata":{"tags":[],"concepts":[]},"sys":{"space":{"sys":{"type":"Link","linkType":"Space","id":"mj324dykhxwi"}},"id":"6T6QFl1rGt3CL7vDZoxouz","type":"Entry","createdAt":"2026-02-23T15:36:07.726Z","updatedAt":"2026-02-23T15:36:07.726Z","environment":{"sys":{"id":"master","type":"Link","linkType":"Environment"}},"publishedVersion":1,"revision":1,"contentType":{"sys":{"type":"Link","linkType":"ContentType","id":"tag"}},"locale":"de"},"fields":{"title":"Wachablöse"}},{"metadata":{"tags":[],"concepts":[]},"sys":{"space":{"sys":{"type":"Link","linkType":"Space","id":"mj324dykhxwi"}},"id":"2ctDTFTbJROUYqEG7gYDn","type":"Entry","createdAt":"2026-02-10T16:03:17.779Z","updatedAt":"2026-02-10T16:03:17.779Z","environment":{"sys":{"id":"master","type":"Link","linkType":"Environment"}},"publishedVersion":1,"revision":1,"contentType":{"sys":{"type":"Link","linkType":"ContentType","id":"tag"}},"locale":"de"},"fields":{"title":"S&P 500 Equal Weight"}},{"metadata":{"tags":[],"concepts":[]},"sys":{"space":{"sys":{"type":"Link","linkType":"Space","id":"mj324dykhxwi"}},"id":"5Ql8hU3n5HodXkv46WSK5b","type":"Entry","createdAt":"2023-12-18T16:06:11.373Z","updatedAt":"2023-12-18T16:06:11.373Z","environment":{"sys":{"id":"master","type":"Link","linkType":"Environment"}},"publishedVersion":1,"revision":1,"contentType":{"sys":{"type":"Link","linkType":"ContentType","id":"tag"}},"locale":"de"},"fields":{"title":"Entwicklung"}},{"metadata":{"tags":[],"concepts":[]},"sys":{"space":{"sys":{"type":"Link","linkType":"Space","id":"mj324dykhxwi"}},"id":"2tw05VJVQmzQP65pGOfVHg","type":"Entry","createdAt":"2023-12-15T15:54:49.666Z","updatedAt":"2023-12-15T15:54:49.666Z","environment":{"sys":{"id":"master","type":"Link","linkType":"Environment"}},"publishedVersion":1,"revision":1,"contentType":{"sys":{"type":"Link","linkType":"ContentType","id":"tag"}},"locale":"de"},"fields":{"title":"Index"}},{"metadata":{"tags":[],"concepts":[]},"sys":{"space":{"sys":{"type":"Link","linkType":"Space","id":"mj324dykhxwi"}},"id":"4ymNHXUk7Mx98HbTFDDTcT","type":"Entry","createdAt":"2020-03-16T17:30:33.833Z","updatedAt":"2020-03-16T17:30:33.833Z","environment":{"sys":{"id":"master","type":"Link","linkType":"Environment"}},"publishedVersion":5,"revision":1,"contentType":{"sys":{"type":"Link","linkType":"ContentType","id":"tag"}},"locale":"de"},"fields":{"title":"S&P 500"}}],"publishingDate":"2026-02-23T15:35:22.326Z","id":"SW5mb0dyYXBoaWMtNG42VnEzYVNkeDZQU25sM0l2dWJ6dQ"}}},"content":[],"nodeType":"embedded-entry-block"},{"data":{},"content":[{"data":{},"marks":[],"value":"Seit mehreren Jahren konnte man diese Prognose bereits in den Kapitalmarktausblicken der großen Banken lesen. Nun scheint sie sich zu materialisieren. Hohe Bewertungen und wachsende Risiken treiben Kapital aus dem Technologiesektor.","nodeType":"text"}],"nodeType":"paragraph"},{"data":{},"content":[{"data":{},"marks":[],"value":"","nodeType":"text"}],"nodeType":"paragraph"}],"nodeType":"document"}

Autoren