DAX의 현재 회복력이 근본적인 취약성을 가리고 있는가?

That's an interesting point about the 'lack of better alternatives' driving the DAX. I wonder if that also ties into the general investor sentiment around diversification within Europe, perhaps seeing Germany as the most stable port in a storm compared to other EU economies right now.

That's a fair point. The 'least ugly shirt in the closet' phenomenon could definitely be at play, propping up the DAX more than its underlying fundamentals might otherwise justify. What specific sectors or companies do you see as most exposed if that sentiment shifts?

That's an interesting perspective. I wonder how much of that "lack of better alternatives" narrative is already priced in, and if the industrials are truly as insulated as some might think from broader European economic headwinds.