“It is quite possible that the stock exchanges will give way more significantly”

Cologne Bert Flossbach is one of the best-known German stock market strategists. With his multi-billion dollar mixed fund “Multiple Opportunities” the co-founder of the Cologne asset management Flossbach von Storch came through the financial crisis well. However, the fund lost 12.5 percent last year – also because Flossbach underestimated the setback in tech stocks. “We have to get rid of this gap now,” says the 61-year-old in an interview with the Handelsblatt.

The fund manager believes another stock market setback is possible. his mixed fund has rebuilt Flossbach. He holds a smaller stake in the US tech group Meta. Looking at the stocks of US tech companies, Flossbach says: “I don’t expect that we will see the high prices again in a year or two.”

He now invests in the shares of car manufacturers BMW and Mercedes-Benz, and he currently holds a lot of cash and gold. After the sharp rise in interest rates, Flossbach also believes that bonds are attractive again, such as special VW bonds with yields of up to seven percent.