Many professional investors and fund managers were sitting on enormous book profits since 2009 after the immense stock market rise. And higher the prices rose, the more lucrative it became for these institutional investors. The Corona crisis finally provided the occasion for this. Fearing for their profits and, of course, for losses, investors acted far too recklessly in early 2020 and began to sell shares in February 2020. In the course of the sell-off, more and more stop-loss limits were triggered, so that the downward movement led to a real panic.