Understanding leverage: potential, risks and reality | Unlocked

00:00:00: why after twenty-five years of banking, I still find this industry fascinating?

00:00:04: because i cannot tell you today where we will be in ten year time.

00:00:07: I can't tell what hope it is and how we are going to do that.

00:00:10: I'll feel this FOMO at once saying oh yeah need buy a bitcoin or position myself on Tesla but everybody's always drawn into the same underlying assets even though they have such huge selection.

00:00:24: It IS not for everyone!

00:00:26: Leverage products aren't tools.

00:00:28: every investor.

00:00:33: Welcome to Unlock the podcast presented by SwissQuote, giving a voice to those who challenge rules and reinvent their industries!

00:00:40: Our guest today has spent more than twenty years helping investors navigate some of most misunderstood products in market.

00:00:47: Drumroll he's seen bull markets crashes crisis recoveries.

00:00:52: through all it one thing remains same.

00:00:54: Investors always want know where is going but they also want exactly how much can lose.

00:01:00: Today, he's one of the key figures behind Société Générale's Structured Products offering.

00:01:06: Dominique Böhler welcome to Unlocked!

00:01:08: Hi

00:01:08: thank you very much.

00:01:09: thanks for the invite.

00:01:10: it's a

00:01:10: pleasure having your here Dominique.

00:01:12: You have spent more than twenty years in structured products.

00:01:15: Do you remember?

00:01:16: The very first time you discovered them?

00:01:19: Yeah well that because made me sound so old right now with everything I experienced and maybe

00:01:23: started at sixteen i don't know

00:01:24: yeah but It was such a long time ago actually can't quite remember But probably it was a university, something like that.

00:01:32: And and... Was it immediate fascination or did you initially think who's on earth?

00:01:38: Who on Earth is ever going to understand this?

00:01:40: It wasn't

00:01:40: immediately fascination I think.

00:01:45: Going way back.

00:01:46: what drew me into the financial markets?

00:01:48: That's gonna basically Indicate how old i am Probably Michael Douglas in the film Wall Street right The dynamism The the vibe and everything.

00:02:00: And then I started looking at various, um...I started getting interested myself in- I conduct a few investments myself when i was still at school.. ..and I just thought it was interesting because you are so much attached to how companies evolve!

00:02:21: That fascinated me.

00:02:22: just be part of that market being able to determine Is this a valuable company, etc.

00:02:29: And then so that's what brought me probably my decision going into finance studies.

00:02:35: and Then I think So we're talking about the end of nineties beginning up to two thousands.

00:02:40: and yes definitely the structure products fear was Was a nascent market?

00:02:46: It wasn't your market and The innovation And the possibilities that emerged.

00:02:53: once I looked into that market in to greater detail, i thought That was quite fascinating.

00:02:58: In your...I mean if you can- I know You've got loads of questions but let me just If you look at The Possibilities The investment possibilities we have today Compared To the nineties and the nineties..you could buy chairs, you Could Buy Bonds.

00:03:12: Yod Actively Managed Fund ETFs were Just emerging as well But But it was kind of limited.

00:03:21: Today you have CFDs, you've got cryptocurrencies and structure products.

00:03:25: You've got leverage products And all these different products give us such a huge diversity or possibility to position yourself with your portfolio... ...and also gives access to a multitude of different underlying assets and geographical locations.

00:03:41: From all those possibilities we chose to talk about the structure products Can maybe introduce this topic?

00:03:48: Structure products always replicate the performance of an underlying asset.

00:03:54: An underlying asset can be in equity, stock a bond currencies crypto currencies indices Commodities.

00:04:04: so structure bar product will replicate The performance of such an underlying acid.

00:04:10: then you have different types of structural products.

00:04:13: You've got capital guaranteed structure process which we'll replicate the performances of another line as it but well It will basically guarantee a minimum payout.

00:04:22: Then you've got structural products that allow to optimize sideways moving markets, so if the underlying doesn't move more than one or two percent up and down You're still gonna have a fixed gain of ten percent coupon for example.

00:04:35: then you also have structure projects That simply replicate.

00:04:38: it performs like a tracker certificate.

00:04:39: They replicated performance over an index off a basket of stocks Like different sectors banking sector automobile sector pharmaceutical sector, etc.

00:04:50: And then you have like the riskier structural products which are leveraged products that allow to optimize performance increasing value or decreasing values of an underlying asset with a leverage of two three all the way up to two or three hundred percent.

00:05:04: But what's the point of replicating?

00:05:05: Then

00:05:07: flexibility.

00:05:08: thanks to structure products You have such huge flexibility investment Flexibility as uh as an investor in your with a structured product or leveraged products, you can participate in decreasing market values.

00:05:25: If for example I am convinced that an underlying asset like Rochonesle which are slightly slower and more conservative moving stocks if your convince one of those stocks is going to increase by three four percent within the next six months but i want to optimize it this is going to happen, then you can look into our leverage products which will increase that performance up to ten-fifteen-twenty percent depending on how high the risk level it's gonna be put in your portfolio.

00:05:56: That's

00:05:56: a great explanation and just wanted ask... You have spent years making complex products more accessible?

00:06:04: And now you're making THIS topic very accessible as well.

00:06:07: so thanks for coming and explaining that.

00:06:09: but where does THAT come from?

00:06:10: are you naturally someone who likes to explain and teach or...?

00:06:13: No No, no not at all.

00:06:16: I'm just...I like creating possibilities!

00:06:22: I don't have the patience for teaching.

00:06:24: ask my son that always ends up in a fight but it's creating two possibilities.

00:06:30: now i don't know.

00:06:31: we might be touching this topic a bit later.

00:06:35: so we're talking about the computing power which we have today.

00:06:39: allow us to create.

00:06:43: That's one point.

00:06:44: Secondly, new emerging technologies allow us to optimize and tailor trading platforms such as Swiss Dots which we'll probably cover later... ...which are tailored platform for a given type of investment product?

00:07:01: And how to optimize the way.

00:07:04: we have an issue with structure products as a retail bank with all the customer contacts to optimize and tailor an ideal platform or in trading environment, investment environments for everybody.

00:07:16: And that is what actually really drew me through this industry.

00:07:19: Why?

00:07:20: After twenty-five years of banking I still find this industry fascinating because i cannot tell you today where we will be in ten year time!

00:07:30: And

00:07:32: maybe let's go back to what you have seen through crisis, rallies market panics.

00:07:40: Of course we cannot predict the future but we can go back something that happened.

00:07:44: is there one anecdote or investor reaction has always stayed with you?

00:07:50: This

00:07:50: term FOMO fear of missing out right.

00:07:54: and whenever they were equities Tesla a couple of years ago, NVIDIA was that two years ago or even back in the year of ten or twenty eight commodities were really hyped.

00:08:13: We see such huge at the beginning this year for example silver and gold and then oil.

00:08:19: you can all investors moving into same underlying asset until the bubble bursts.

00:08:26: nobody does anything anymore even though in those situations, you would have really interesting opportunities to short or put short positions in your portfolio.

00:08:35: Right?

00:08:36: So it's kind of like everybody that is always faster... You know I'm talking about myself as well and i am not different..I will feel this FOMO at once.

00:08:44: say just think oh yeah!

00:08:45: I need buy a bitcoin Or I need position my self on Tesla And definitely we won't get the right moment but its kinda....everybody has drawn into same underlying assets Even if they are such huge selection.

00:08:58: Well, let's imagine I believe a stock or an index will rise but I do not want to invest too much money.

00:09:04: What would you tell me?

00:09:05: Yes.

00:09:05: So so i'm not an investment advisor.

00:09:08: The best thing we'll be talking about is your investment advisor and I am a product specialist.

00:09:14: If You Want To Participate in the performance of An underlying asset without investing Too Much And You are prepared to increase the risk level In Your portfolio Then, you definitely can look into leverage products.

00:09:29: Because leveraged products allow to participate one-to-one depending which leverage product.

00:09:36: I'm ignoring warrants now and I am ignoring factor certificates... ...I talk about knockout warrants.

00:09:41: in many futures they will replicate exactly the performance of the underlying asset.

00:09:46: And let's say we have an underlying asset that costs for example a hundred francs.

00:09:50: You would only pay twenty francs But if it increases from a hundred to a hundred five You will gain those five francs as well, which we'll give you a performance of.

00:10:00: Twenty-five percent is it?

00:10:02: We might have to edit that.

00:10:03: Is it twenty-five per cent?

00:10:04: Yeah I think we're twenty-five percent.

00:10:05: yeah... We won't edit this.

00:10:06: perfect!

00:10:07: It's perfect.

00:10:07: bang on yes exactly

00:10:10: Why do so many investors find the idea of leverage attractive

00:10:13: ?

00:10:13: i think its access to market and flexibility including your portfolio.

00:10:21: So we often talk about increasing markets and you buy a long position, what we also call call warrants or call mini futures but it also gives you the possibility to participate with their leverage in decreasing markets And you can also hedge yourself.

00:10:38: hedging is something like I don't know if dive too deep into that hedging is basically you're putting a an insurance policy on certain positions of your portfolio.

00:10:48: it will cost something but in case the market decreases and value, that hedge would allow to catch up or compensate.

00:10:57: A certain amount of losses right?

00:10:59: You have this huge diversity possibilities and access to a multitude different underlying assets.

00:11:05: then lastly not least If you are more the speculative type and just like going for it, maximizing certain performances then also increase or put a really high risk position in your portfolio.

00:11:21: And try to maximize profit of an underlying asset but that is not for everyone.

00:11:25: Maybe

00:11:25: to summarize this question of leverage products what's the biggest advantage?

00:11:29: using a call warrant instead simply buying stock itself?

00:11:33: I don't know if its an advantage But reason would be to increase performance to optimize the performance.

00:11:40: Why have I'm going, i'll give back to you a question if I don't remind me what the question was right?

00:11:47: Of course!

00:11:48: why have actively managed funds been so successful in the past?

00:11:52: because you invested an actively manage fund and it was managed by an active fund manager Right?

00:12:00: So You just thought okay I am convinced that he is promising Me And He's gonna Manage The Whole Lot.

00:12:06: An ETF which I love, a fantastic product just allows you to participate on performance of an index.

00:12:12: And these are usually rather long-term investments and we even talk about ten twenty thirty years whatever.

00:12:17: you also use ETFs for your pension for various pension schemes etc.

00:12:22: so You don't really need the direct market view.

00:12:25: The challenge Which leverage products have compared to other investment products or Structure products in general?

00:12:31: The challenging thing For them compare two other investment projects is that the investor needs to Have A Market View.

00:12:36: Okay, you need to be up-to-derive Market view from the information which we gathered in the markets.

00:12:42: That is a challenging thing for structure products and that's why maybe they don't have the same share In a portfolio as other products.

00:12:50: So therefore when the question was Why leverage products?

00:12:54: The biggest advantage of using a call warrant instead of buying the stock itself exactly

00:12:59: there you go.

00:12:59: Thanks for reminding me about the question.

00:13:01: I knew that what's going to be necessary but Considering what I just said, when you do have a market view and as convinced that it can be about this market view.

00:13:12: It allows to align with the higher leverage or lower leverage depending on risk which we want.

00:13:20: so let's say within six months stock will increase in value.

00:13:29: why not increase performance?

00:13:34: Does that make sense for you?

00:13:35: It makes sense.

00:13:36: And also, I wanted to ask you often we don't think time matters in the question of warrants and leverage products in general Why does a warrant lose value as it approaches expiry even if market doesn't move much?

00:13:52: Now we are talking about warrants.

00:13:54: Before there were four types of leveraged products in Swiss markets.

00:13:58: They're warrants The classic warrant.

00:14:00: Then there are mini futures, knockout warrants and factor certificates.

00:14:04: It's important that if you do invest in a leveraged product which is the right leverage for your market view.

00:14:11: Now coming to question warrants How is the price derived of a warrant?

00:14:18: A lot people will challenge what I'm going say but i am gonna try put it into way most easiest for everybody to understand.

00:14:26: A warrant has got strike price The strike prices key and will be relevant at maturity.

00:14:32: Let's say I have a strike price of one hundred, if the underlying asset is above one hundred at maturity... ...I would be in the money.

00:14:40: that means my warrant won't give you the right to purchase an underlying asset at maturity date.

00:14:45: If it's below one hundred below the strike price It wouldn't have any value.

00:14:50: Now let us now have a warrant with twelve month maturity.

00:14:53: The price from a warrant is basically derived more or less probability calculation.

00:15:00: How high is the probability that the underlying asset will be above the strike price in our example, a hundred upon maturity in twelve months time?

00:15:12: Okay and Is it going to be one hundred five or one hundred ten the higher the higher

00:15:16: etc.?

00:15:16: Now if I have twelve month's time the probability is given The close I get to maturity.

00:15:23: If i have A One Week Timeline until the maturity date.

00:15:28: Only one week left, okay?

00:15:29: And I am below or at a hundred The likelihood that it will be way above a hundred has decreased.

00:15:37: So i have less higher probability.

00:15:40: so therefore At twelve months the probability is high One week before maturity and because its lower probability It would decrease in value.

00:15:51: What's most common mistake?

00:15:52: you see beginners do with those warrants.

00:15:55: We need to go into theory here a bit.

00:15:58: The biggest error with the warrant is that a variable which all, it's also important for this probability calculation which is called the delta and the delta says how much will the warrant move depending on the movement of an underlying asset?

00:16:14: Now very low Delta means that the warrant would be not so sensitive.

00:16:24: However, the leverage will be higher.

00:16:26: And the biggest error is if this delta decreases that we'll reduce a value of the warrant.

00:16:34: even so let's say I bought it call warrants The underlying which you think they're on the line.

00:16:39: Which would buy?

00:16:39: If he thinks online is going to increase in value It's underline increases but the Delta decrease and it was losing values.

00:16:44: So its technical mistake which is quite common.

00:16:47: So therefore Even though there are the classic leverage product warrants There may calculation wise, a bit more complex to understand.

00:16:55: Not super-complex not much more complex than an actively managed fund or cryptocurrency but the bit more complicated to understand then compared to a knockout warrant or mini future.

00:17:05: so these are kind of like these technicalities and that's why I always... That's what i keep mentioning.

00:17:11: it's important.

00:17:13: take your time.

00:17:15: you don't need to know us a lot of times fifteen twenty minutes.

00:17:17: just look at functionality of a warrant or have the mini future over knockout warrant etc.

00:17:23: An education is key there and that's why

00:17:25: we're here.

00:17:26: but however you might ask yourself, Why?

00:17:28: Is it worth while taking that time And The value Of investing That Time is increasing.

00:17:36: They are the possibilities the flexibility of your portfolio?

00:17:43: maybe I'll ask this question.

00:17:45: This is a parenthesis, but maybe you can explain to me and to us the audience.

00:17:51: What does it call?

00:17:52: And what as a put warrant?

00:17:54: yeah Okay So a cold warrant is um a cold one or a cold knockout want or cold mini future?

00:18:00: You think that gives you the right in theory To purchase an underlying asset at the future date.

00:18:06: so you think The underlying acid It's gonna increase in value if you buy your foot.

00:18:09: Do you think they're underline?

00:18:10: it gives you their right to sell on online set out of future dates.

00:18:14: So you think the underlying asset is going to decrease in value.

00:18:18: So calls are for market expectancy of increasing value, a putt is for decreasing market value?

00:18:23: It's exactly like in the movie The Big Short!

00:18:29: Can maybe remember period during covid-nineteen stock market crash or another correction when demand for puts weren't suddenly exploded?

00:18:42: So we do see a lot of transactions in put once.

00:18:45: but investors are inherently.

00:18:48: Positioning themselves or prefer all their optimists and they the ratio for calls input is much more in favor off course, that issue is like I think a lot people position this sells an increasing market values until there's it on to the bubble burst.

00:19:05: something happens then they might lose certain value in positions that will be.

00:19:12: a position where put would be quite interesting.

00:19:14: There are several reasons why put positions can be very interesting because there other characteristics of the market, they'll increase value over put warrant for example.

00:19:22: at this point one point two is if you think about it The performance of a put warrant is limited Because an underlying asset A stock Can never lose more than hundred percent.

00:19:33: on the other hand in increasing market values It can increase more then hundred percent and increased by two hundred percent three hundred percent.

00:19:40: so the possibilities, performance possibilities in long positions or call positions are higher than in short positions.

00:19:48: So I don't think...I can really recall having ever seen The market for all to demand for put warrants explode

00:19:58: and we can hear those questions nowadays.

00:20:00: i mean the AI bubble.

00:20:02: everybody's talking about that?

00:20:07: political and there is the society around.

00:20:09: it's not just a market question.

00:20:12: Very interesting also to read.

00:20:15: but if you have two, give an advice without going into financial advise for just life advice or maybe technical advice to someone who is curious about leverage products, but also afraid of making a mistake.

00:20:30: What would you tell them?

00:20:31: Yeah so how do I ask if you've never invested in leveraged products for example or

00:20:36: first time

00:20:38: had to go about this topic.

00:20:40: i think um So so you need to be curious.

00:20:43: and then uh Do look at sir If we're talking by leverage products do look at the The theory a bit.

00:20:51: You have so many platforms like each Provider of leveraged products on their web pages, Societe Generale or competitors.

00:20:58: Or Swiss Quote Bank or general artificial intelligence platforms will provide loads of information.

00:21:05: Let's say you think... You know how it works?

00:21:09: I should have done it!

00:21:11: It cost me a lot money when my first three investments.

00:21:15: But you can also just do a synthetic positioning or trades, open up an Excel.

00:21:20: You say okay I'm going to buy this product and that date?

00:21:22: That's the price are paid.

00:21:23: then we'll see what is gonna happen in two three weeks time right?

00:21:27: Then they're all so In the market.

00:21:29: in Switzerland The Swiss Structure Products Association together with A journalistic platform i can't quite recall but especially you will find information at Swiss structure products association.

00:21:41: They organize Yearly a traders game.

00:21:45: So trading games are perfect platform because okay, you're not really investing real money but have the possibility to win some prizes which is nice thing and so that especially allows you test trade how it works

00:22:01: And of course, products that are only useful if investors can actually access and understand them as you mentioned.

00:22:07: But there is also where the Swiss Dots platform come in... ...and we're here to talk about it right?

00:22:13: So maybe you could talk a bit more about this Swiss Dotes project.

00:22:17: Yeah

00:22:18: so Swiss Dats is a fantastic platform which was initiated by SwissQuote Bank with Issues in the market.

00:22:30: issues are people our banks who provide or create a financial products and it's a tailored platform.

00:22:39: It's a tailor platform for leverage product investors.

00:22:43: now Leverage products also listed on exchanges.

00:22:47: an exchange is all good, but they're based on on Design.

00:22:52: infrastructure were infrastructure design which dates back several decades right?

00:22:57: Now It's good, it is just a bit more expensive and Swiss Dots was tailored for leveraged products investors.

00:23:06: So what the difference?

00:23:07: First of all, Swiss Dotes allows investors to access their leveraged product from eight in the morning until ten in evening which is quite relevant because you will have a lot of leverage products And they are very popular.

00:23:20: large percentage of leverage products replicate the performance of US equities or US underlying.

00:23:27: therefore Because it's a dynamic product with the high risk you want to be able to react when U.S market is open and you can trade until ten in evening, which means that we can react after dinner before going into bed or brushing teeth... That's point one.

00:23:41: Secondly You always trade your products against the Market Maker Which will have to write price on third party platforms.

00:23:47: Sometimes you might have divergent prices because there are other market participants participant entering the market, there's very technical detail.

00:23:55: That doesn't happen a lot but it won't happen on Swiss Dots.

00:23:58: so you're guaranteed to have the right price.

00:24:00: and thirdly The costs are much lower as well.

00:24:03: So um You only pay I think nine francs per transaction rather than whereas on the exchanger will be more expensive which decreases tax or Which enhances that accessibility too to leverage products with your fantastic thing And also the selection.

00:24:20: You have at least ninety thousand leverage products on the Swiss Dots platform, which is massive.

00:24:25: so you will have access to basically any underlying... not any underlying but any tradable underline Which possibly would be relevant.

00:24:32: Let's say quite a lot and you work for Société Générale just to mention again Yeah It has been one of the long-standing partners behind SwissDots.

00:24:43: From your perspective what makes this partnership with SwissQuote unique?

00:24:49: What makes this partnership unique is that we jointly tailored his platform for example and you have access to the investors.

00:24:58: We have access two products product innovations in end of today.

00:25:03: yes, we also are an interest to provide good platforms etc.

00:25:07: but it's also because recover from the investor infrastructure product provider Settlement, etc.

00:25:17: We cover the whole environment from that perspective.

00:25:21: That's not the case with every partner in a market And I think this is quite unique situation and partnership which we have.

00:25:28: What role does having several issuers such as Societe Generale play for investors?

00:25:33: It benefits the competitiveness of pricing on platform.

00:25:36: If you only had one provider of leveraged products on platforms Possibly they would individually be more expensive.

00:25:43: Wait, it's just like a monopolistic market.

00:25:46: And if you have several providers they are all in competition with each other which benefits the investor.

00:25:54: secondly increases as well innovation capabilities of the platform.

00:25:59: I mean, it's quite a lot already.

00:26:01: I feel like there are quite advantages in its rare to hear about that collaboration between institutions and earlier in the episode we talked about the psychological mistakes investors make specifically with leveraged impatience bad timing the FOMO as you mentioned.

00:26:20: how does Swiss dots help investors avoid those mistakes?

00:26:24: How do Swiss dots have to avoid this psychological mistakes.

00:26:30: If there is anything that helps people on the platform,

00:26:33: I don't know if it's a platform as such?

00:26:35: Don't think it's with sorts of helps investors avoid any psychological missteps or something like That.

00:26:41: i think It's more just some Swiss quote Is is A retail focused bank?

00:26:47: right?

00:26:48: so you You cherish you appreciate Any contact Or any Retail investor that opens account with you and i think thats quite unique.

00:26:58: That u are very focused in this segment which means to support them, take by the hand provide loads of services like your webinars or all this podcast etc.

00:27:08: I think that's more than uniqueness off this platform that it's a platform provided not buying exchange or any other third party is provided by a bank to jointly together with product providers too.

00:27:21: two in the end of today provider fantastic platform.

00:27:24: And finally, maybe a last question when you look at the future.

00:27:29: I know you didn't want to talk about the future in the beginning.

00:27:31: You said it's also difficult.

00:27:32: but how do you think products like call and put warrants will evolve over the next few years?

00:27:39: So i don't Think The Products Will Evolve That Much.

00:27:43: I Think What'S Gonna Evolve Is The Infrastructure On Which These Products Are Provided Meaning that New Products Will Be Launched Faster.

00:27:54: We might be able to offer a new range of underlying assets.

00:28:00: Prices might decrease, yeah I think the products are such... Maybe there's going to be a new product.

00:28:07: sometimes when certain social media services were provided with these services we couldn't imagine ten fifteen years ago right?

00:28:15: Nobody thought that anybody would want to watch clips that have a duration two minutes not even thirty seconds like Talk about tiktok or whatever, you know.

00:28:24: Nobody imagined that so I don't know what i could imagine but i think What's going to evolve is the infrastructure?

00:28:29: That i'm confident as well on which technology platform other products are gonna be based.

00:28:35: The investor will in the end benefit from lower prices Faster accessibility to the market and maybe new underlines On which they can position themselves.

00:28:46: It's funny.

00:28:47: You're talking about tik tok every social media talking about investments and everything.

00:28:51: now I hear a lot of social arbitrage as they say.

00:28:56: Social

00:28:57: arbitrage?

00:28:57: Yes, so it means that sometimes you see something on social media before seeing in the markets because like this is approximately what we've seen with The GameStop situation.

00:29:07: Yeah It's quite unique and something also revolutionary in those sectors.

00:29:14: no yeah

00:29:16: i think so but not issue.

00:29:21: Okay.

00:29:21: You have these individuals who embrace new technologies and they go for it, right?

00:29:28: But as a serious investor, I mean we're talking about hard-earned money... ...and you want to be able to trust the platform.

00:29:38: And that is key!

00:29:40: In the end of day, Switzerland was successful in Switzerland because it's well established brand.

00:29:48: I mean, look at your first building.

00:29:50: It looks like a fortress doesn't it?

00:29:52: And i think that was the whole idea behind building a fortress even though you are an online bank You know.

00:29:58: so when you're talking about accepting new technologies and platforms and services Of course we have there The ones who embrace new technology immediately go for but I think For the majority of us investors We Like At least in Switzerland stability Answer isn't sir.

00:30:16: So Stability is key.

00:30:17: But when we talk about crypto, it's more difficult to talk about stability.

00:30:22: What is your take on that?

00:30:23: Because you mentioned that leveraged products can also be on crypto right?

00:30:27: That is true yeah so I'm not a crypto specialist Right.

00:30:30: i did do some crypto investments just because everybody was doing It.

00:30:34: yes there We go again.

00:30:35: FOMO okay Yeah!

00:30:36: I was curious as well what will happen etc...I much appreciate what happened in the cryptocurrency sphere.

00:30:44: It increased the attention in this with population.

00:30:51: Increase their attention towards investing and why it makes sense to invest?

00:30:56: I mean, there was a whole vibe in the media or he was all over the place.

00:30:59: that okay what is interesting?

00:31:00: And then lot of.

00:31:01: i think i would i'm quite confident claiming That A Lot Of Crypto Investors In The End Trickle Down To Equity Investing Fund Investing Because They Realize Actually There's A Whole New Field Out There Where I can make my money to use and bring it into the market.

00:31:19: And invest in companies, invest in ETFs maybe as well in structural products.

00:31:25: so... It was definitely a good movement but I won't say too much about... I'm not an expert on cryptocurrency.

00:31:31: Of

00:31:31: course of course!

00:31:32: It's just more of public story..I mean its also.

00:31:36: like The Wolf of Wall Street, the movie made us discover what's What's investing in a way or what it was before and all the ups and downs of the industry as well.

00:31:51: But In any case, I'm really happy.

00:31:53: And glad that I was able to learn A lot of things about leverage products here.

00:31:57: if do you maybe have something To say to our audience who discovered leveraged products today potentially So

00:32:03: so i think i think would like to mention It uh?

00:32:11: especially leverage products, I would want to say at this stage in these podcasts they are super interesting.

00:32:19: It allows you to increase the flexibility of your portfolio.

00:32:22: it will also increase that risk level in your portfolio is not for everyone.

00:32:28: Leverage products aren't tools for every investor but for those who are prepared have a greater access to underlying assets and increase the flexibility.

00:32:42: It is worthwhile looking at the theory or listening into certain webinars, all going online comparing products and doing their homework to see what this is all about.

00:32:55: it's not just about the leverage products um its also accessibility to various underlying assets.

00:33:05: The most important thing as well is there are no silly questions.

00:33:09: As soon as you have questions where you cannot find the answers yourself, I'm sure can get in touch with Swiss quote.

00:33:16: You definitely can also getting touched with the issuer provider of a structure product and now In my case this would be so city general our web page if i may

00:33:26: of course

00:33:26: sgminuscertificates.ch.

00:33:34: We're not a call center.

00:33:36: You will get straight through the trading desk, and you'll be able to re-ask your questions.

00:33:41: And also we have a podcast.

00:33:42: I've heard that you'd like to talk on mics.

00:33:45: Yeah exactly!

00:33:46: You can find our link in our podcast on our webpage.

00:33:51: Perfect Well thankyou so much Dominic.

00:33:54: It was a pleasure.

00:33:56: I mean, we discovered so many things.

00:33:58: Maybe one day will do another webinar with you or something But in any case if you have any questions feel free to send us in the comments And maybe you can also answer those questions in the comment section.

00:34:12: You've been listening too unlocked by Swiss quote.

00:34:14: If you enjoyed this episode subscribe leave as five stars.

00:34:17: It's really important for the algorithm.

00:34:20: now everything is about algorithm guys.

00:34:23: So if you want to discover more content and market insights trading and investing carry risks including capital loss.

00:34:52: CFDs in digital assets are volatile, not suitable for everyone.

00:34:55: SwissQuote assumes no responsibility for accuracy or losses from its use.

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