{"id":1759,"date":"2025-12-16T11:00:00","date_gmt":"2025-12-16T10:00:00","guid":{"rendered":"https:\/\/mueckinvest-qtjx8ksl18.live-website.com\/?page_id=1759"},"modified":"2026-07-06T07:00:00","modified_gmt":"2026-07-06T05:00:00","slug":"rui-ro-phat-hanh-voi-chung-chi-wikifolio","status":"publish","type":"page","link":"https:\/\/mueckinvest.com\/vi\/emittentenrisiko-bei-wikifolio-zertifikaten\/","title":{"rendered":"R\u1ee7i ro ph\u00e1t h\u00e0nh v\u1edbi ch\u1ee9ng ch\u1ec9 Wikifolio"},"content":{"rendered":"<p class=\"wp-block-paragraph\">V\u1ec1 m\u1eb7t ph\u00e1p l\u00fd, ch\u1ee9ng ch\u1ec9 Wikifolio l\u00e0 ch\u1ee9ng kho\u00e1n n\u1ee3 do... ph\u00e1t h\u00e0nh. <strong>Lang &amp; Schwarz Aktiengesellschaft (L&amp;S)<\/strong>. B\u1eb1ng c\u00e1ch mua ch\u1ee9ng ch\u1ec9, nh\u00e0 \u0111\u1ea7u t\u01b0 tr\u1edf th\u00e0nh ch\u1ee7 n\u1ee3 c\u1ee7a t\u1ed5 ch\u1ee9c ph\u00e1t h\u00e0nh. \u0110i\u1ec1u n\u00e0y th\u01b0\u1eddng t\u1ea1o ra m\u1ed9t... <em>r\u1ee7i ro c\u1ee7a nh\u00e0 ph\u00e1t h\u00e0nh<\/em>, T\u1ee9c l\u00e0, r\u1ee7i ro m\u1ea5t kh\u1ea3 n\u0103ng thanh to\u00e1n c\u1ee7a t\u1ed5 ch\u1ee9c ph\u00e1t h\u00e0nh.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u0110\u1ec3 gi\u1ea3m thi\u1ec3u r\u1ee7i ro n\u00e0y, L&amp;S c\u00f3 m\u1ed9t gi\u1ea3i ph\u00e1p: <strong>gi\u1ea3i ph\u00e1p th\u1ebf ch\u1ea5p \u0111\u01b0\u1ee3c th\u1ecfa thu\u1eadn theo h\u1ee3p \u0111\u1ed3ng<\/strong> \u0110\u00e3 gi\u1edbi thi\u1ec7u. T\u1ea5t c\u1ea3 c\u00e1c ch\u1ee9ng kho\u00e1n v\u00e0 t\u00e0i kho\u1ea3n ti\u1ec1n m\u1eb7t \u0111\u01b0\u1ee3c n\u1eafm gi\u1eef \u0111\u1ec3 th\u1ef1c hi\u1ec7n c\u00e1c ngh\u0129a v\u1ee5 ph\u00e1t sinh t\u1eeb c\u00e1c ch\u1ee9ng ch\u1ec9 Wikifolio \u0111ang l\u01b0u h\u00e0nh \u0111\u1ec1u \u0111\u01b0\u1ee3c th\u1ebf ch\u1ea5p l\u00e0m t\u00e0i s\u1ea3n \u0111\u1ea3m b\u1ea3o. M\u1ed9t ng\u01b0\u1eddi \u0111\u01b0\u1ee3c \u1ee7y th\u00e1c \u0111\u1ed9c l\u1eadp th\u01b0\u1eddng xuy\u00ean gi\u00e1m s\u00e1t t\u00e0i s\u1ea3n th\u1ebf ch\u1ea5p. \u0110i\u1ec1u n\u00e0y b\u1ea3o v\u1ec7 nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u1ecfi r\u1ee7i ro t\u1eeb ph\u00eda nh\u00e0 ph\u00e1t h\u00e0nh. <strong><a href=\"https:\/\/help.wikifolio.com\/article\/86-wie-sicher-sind-investitionen-in-wikifolio-zertifikate\" title=\"\">ph\u1ea7n l\u1edbn \u0111\u01b0\u1ee3c b\u1ea3o \u0111\u1ea3m<\/a><\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Ph\u00e2n t\u00edch chi ti\u1ebft v\u1ec1 r\u1ee7i ro c\u1ee7a t\u1ed5 ch\u1ee9c ph\u00e1t h\u00e0nh \u2013 bao g\u1ed3m c\u00e1ch th\u1ee9c ho\u1ea1t \u0111\u1ed9ng c\u1ee7a t\u00e0i s\u1ea3n th\u1ebf ch\u1ea5p, c\u00e1c k\u1ecbch b\u1ea3n c\u00f3 th\u1ec3 x\u1ea3y ra v\u00e0 c\u00e1c kh\u00eda c\u1ea1nh r\u1ee7i ro \u2013 c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c t\u00ecm th\u1ea5y trong b\u00e1o c\u00e1o chuy\u00ean s\u00e2u to\u00e0n di\u1ec7n. \ud83d\udc49 <strong><a href=\"https:\/\/mueckinvest.com\/vi\/%f0%9f%93%89-rui-ro-phat-hanh-voi-chung-chi-wikifolio\/\" title=\"\ud83d\udcc9 R\u1ee7i ro ph\u00e1t h\u00e0nh v\u1edbi ch\u1ee9ng ch\u1ec9 Wikifolio\">Ph\u00e2n t\u00edch chuy\u00ean s\u00e2u: R\u1ee7i ro c\u1ee7a nh\u00e0 ph\u00e1t h\u00e0nh<\/a><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Th\u01b0\u01a1ng m\u1ea1i v\u00e0 t\u00ednh minh b\u1ea1ch<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Ch\u1ee9ng ch\u1ec9 Wikifolio ch\u1ec9 \u0111\u01b0\u1ee3c ph\u00e1t h\u00e0nh tr\u00ean <strong>S\u00e0n giao d\u1ecbch ch\u1ee9ng kho\u00e1n Stuttgart (EUWAX)<\/strong> \u0111\u00e3 giao d\u1ecbch.<\/li>\n\n\n\n<li>C\u1ea3 wikifolio.com v\u00e0 c\u00e1c nh\u00e0 giao d\u1ecbch \u0111\u1ec1u kh\u00f4ng nh\u1eadn \u0111\u01b0\u1ee3c ti\u1ec1n c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0; \u0111\u01a1n v\u1ecb ph\u00e1t h\u00e0nh duy nh\u1ea5t l\u00e0 L&amp;S.<\/li>\n\n\n\n<li>Gi\u1ea3i ph\u00e1p th\u1ebf ch\u1ea5p n\u00e0y mi\u1ec5n ph\u00ed cho nh\u00e0 \u0111\u1ea7u t\u01b0 v\u00e0 t\u0103ng c\u01b0\u1eddng t\u00ednh b\u1ea3o m\u1eadt cho kho\u1ea3n \u0111\u1ea7u t\u01b0.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">\u0110\u00e1nh gi\u00e1 h\u00e0ng qu\u00fd<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Ngo\u00e0i c\u00e1c quy \u0111\u1ecbnh ch\u00ednh th\u1ee9c c\u1ee7a L&amp;S v\u00e0 <a href=\"http:\/\/wikifolio.com\" title=\"\">wikifolio.com<\/a> T\u00f4i s\u1ebd xu\u1ea5t b\u1ea3n <strong>\u0111\u00e1nh gi\u00e1 c\u00e1 nh\u00e2n h\u00e0ng qu\u00fd<\/strong> V\u1ec1 t\u00ecnh h\u00ecnh r\u1ee7i ro hi\u1ec7n t\u1ea1i. C\u00e1c ph\u00e2n t\u00edch n\u00e0y \u0111\u00f3ng vai tr\u00f2 l\u00e0 h\u01b0\u1edbng d\u1eabn b\u1ed5 sung v\u00e0 \u0111\u01b0\u1ee3c cung c\u1ea5p trong ph\u1ee5 l\u1ee5c. Ch\u00fang kh\u00f4ng thay th\u1ebf th\u00f4ng tin ch\u00ednh th\u1ee9c t\u1eeb L&amp;S ho\u1eb7c wikifolio.com, m\u00e0 b\u1ed5 sung cho th\u00f4ng tin \u0111\u00f3 b\u1eb1ng m\u1ed9t g\u00f3c nh\u00ecn \u0111\u1ed9c l\u1eadp.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n    <style>\n        .emittenrisiko-year-select {\n            margin-bottom: 15px;\n        }\n        .emittenrisiko-year-select select {\n            padding: 6px 10px;\n            font-size: 16px;\n            border-radius: 6px;\n            border: 1px solid #ccc;\n        }\n        @media (prefers-color-scheme: dark) {\n            .emittenrisiko-year-select select {\n                background: #222;\n                color: #fff;\n                border-color: #555;\n            }\n        }\n        .emittenrisiko-all-list {\n            list-style: none;\n            padding-left: 0;\n            margin: 0;\n        }\n        .emittenrisiko-all-list li {\n            margin-bottom: 6px;\n        }\n    <\/style>\n    <div class=\"emittenrisiko-year-select\"><select id=\"emittenrisiko-year\"><option value=\"2026\" selected>2026<\/option><\/select><\/div><ul class=\"emittenrisiko-all-list\" id=\"emittenrisiko-list\"><li data-year=\"2026\">\n                        <a href=\"https:\/\/mueckinvest.com\/vi\/emittentenrisiko-juli-2026\/\">R\u1ee7i ro c\u1ee7a t\u1ed5 ch\u1ee9c ph\u00e1t h\u00e0nh: Th\u00e1ng 7 n\u0103m 2026<\/a>\n                    <\/li><li data-year=\"2026\">\n                        <a href=\"https:\/\/mueckinvest.com\/vi\/emittentenrisiko-april-2026\/\">R\u1ee7i ro c\u1ee7a t\u1ed5 ch\u1ee9c ph\u00e1t h\u00e0nh: Th\u00e1ng 4 n\u0103m 2026<\/a>\n                    <\/li><li data-year=\"2026\">\n                        <a href=\"https:\/\/mueckinvest.com\/vi\/jan-26-einschaetzung-des-emittenrisikos\/\">R\u1ee7i ro c\u1ee7a t\u1ed5 ch\u1ee9c ph\u00e1t h\u00e0nh: Th\u00e1ng 1 n\u0103m 2026<\/a>\n                    <\/li><\/ul>\n    <script>\n    document.addEventListener(\"DOMContentLoaded\", function() {\n        const select = document.getElementById(\"emittenrisiko-year\");\n        const items = document.querySelectorAll(\"#emittenrisiko-list li\");\n\n        function filter() {\n            const year = select.value;\n            items.forEach(item => {\n                item.style.display = (item.dataset.year === year) ? \"\" : \"none\";\n            });\n        }\n\n        select.addEventListener(\"change\", filter);\n\n        \/\/ Initial filtern\n        filter();\n    });\n    <\/script>","protected":false},"excerpt":{"rendered":"<p>Wikifolio-Zertifikate sind rechtlich gesehen Schuldverschreibungen der Lang &amp; Schwarz Aktiengesellschaft (L&amp;S). Mit dem Erwerb eines Zertifikats werden Anleger Gl\u00e4ubiger der Emittentin. Damit besteht grunds\u00e4tzlich ein Emittentenrisiko, also das Risiko der Zahlungsunf\u00e4higkeit des Emittenten. Zur Absicherung dieses Risikos hat L&amp;S eine vertraglich vereinbarte Besicherungsl\u00f6sung eingef\u00fchrt. S\u00e4mtliche Wertpapiere und Geldkonten, die zur Erf\u00fcllung der Verpflichtungen aus ausstehenden [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"pmpro_default_level":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"class_list":["post-1759","page","type-page","status-publish","hentry","pmpro-has-access"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.10 - aioseo.com -->\n\t<meta name=\"description\" content=\"Fundamentalanalyse Lang &amp; Schwarz 1. Finanzkennzahlen Marktkapitalisierung: ca. 213\u2013218 Mio. 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EUR KGV (2025): rund 8,2 \u2013 deutliche Unterbewertung im Branchenvergleich Dividendenrendite: zwischen 2,9 % und 9,1 % je nach Berechnung und Aussch\u00fcttungsjahr Eigenkapitalquote: solide, zus\u00e4tzlich wurden 17,3 Mio. EUR in den Fonds f\u00fcr allgemeine Bankrisiken eingestellt 2. Gewinn- und Aussch\u00fcttungspolitik F\u00fcr 2025 plant Lang &amp;\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/mueckinvest.com\/vi\/jan-26-einschaetzung-des-emittenrisikos\/\" \/>\n\t\t<meta property=\"og:image\" content=\"https:\/\/mueckinvest.com\/wp-content\/uploads\/2025\/09\/mueckinvest-Logo-Signatur.jpeg\" \/>\n\t\t<meta property=\"og:image:secure_url\" content=\"https:\/\/mueckinvest.com\/wp-content\/uploads\/2025\/09\/mueckinvest-Logo-Signatur.jpeg\" \/>\n\t\t<meta property=\"article:published_time\" content=\"2026-01-01T18:00:33+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2026-04-01T04:00:00+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n\t\t<meta name=\"twitter:title\" content=\"Emittentenrisiko: Januar 2026 - mueckinvest\" \/>\n\t\t<meta name=\"twitter:description\" content=\"Fundamentalanalyse Lang &amp; Schwarz 1. Finanzkennzahlen Marktkapitalisierung: ca. 213\u2013218 Mio. 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C\u00e1c ch\u1ec9 s\u1ed1 t\u00e0i ch\u00ednh ch\u00ednh V\u1ed1n h\u00f3a th\u1ecb tr\u01b0\u1eddng: kho\u1ea3ng 213\u2013218 tri\u1ec7u EUR T\u1ef7 l\u1ec7 P\/E (2025): kho\u1ea3ng 8,2 \u2013 \u0111\u1ecbnh gi\u00e1 th\u1ea5p \u0111\u00e1ng k\u1ec3 so v\u1edbi ng\u00e0nh L\u1ee3i su\u1ea5t c\u1ed5 t\u1ee9c: t\u1eeb 2,9% \u0111\u1ebfn 9,1% t\u00f9y thu\u1ed9c v\u00e0o n\u0103m t\u00ednh to\u00e1n v\u00e0 ph\u00e2n ph\u1ed1i T\u1ef7 l\u1ec7 v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu: v\u1eefng ch\u1eafc, v\u1edbi th\u00eam 17,3 tri\u1ec7u EUR \u0111\u01b0\u1ee3c ph\u00e2n b\u1ed5 cho qu\u1ef9 r\u1ee7i ro ng\u00e2n h\u00e0ng chung 2. 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