Frankfurt How is one of the best-known fund managers in Germany adapting to the new situation on the markets? Bert Flossbach explains in an interview with the Handelsblatt why he bought some US tech stocks after the outbreak of the Ukraine war and why he thinks German car manufacturers are attractive.
According to the 60-year-old co-founder of wealth management Flossbach von Storch, central banks will not be able to fight high inflation effectively, even if the Fed hiked interest rates on Wednesday for the first time since 2018. For this to happen, interest rates would have to rise so much that they would stall the economy and plunge the financial markets into severe turbulence. Flossbach warns against an “oath of disclosure” by the central banks and advises two investments in a world of persistently high negative real interest rates: equities and gold.
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