At the beginning of 2023, Max Kettner went against the Wall Street consensus and bet on the stock market against the backdrop of high inflation and rapid rise in interest rates. Since then, he has seldom strayed from this path. The chief multi-asset strategist at HSBC Holdings has been adhering to this position for most of the past three and a half years, even when competitors are suggesting a shift to safer assets due to concerns about geopolitics or tech bubbles. One of his recent tests was the outbreak of the war in Iran, when Kettner not only did not retreat, but instead increased his stock holdings significantly. This bullish strategy paid off. Since Kettner upgraded his stock rating to an increase in holdings in February 2023, the S&P 500 has risen by nearly 80%, which has helped him top Extel's list of developed European multi-asset strategists for five consecutive years.

At the beginning of 2023, Max Kettner went against the Wall Street consensus and bet on the stock market against the backdrop of high inflation and rapid rise in interest rates. Since then, he has seldom strayed from this path. The chief multi-asset strategist at HSBC Holdings has been adhering to this position for most of the past three and a half years, even when competitors are suggesting a shift to safer assets due to concerns about geopolitics or tech bubbles. One of his recent tests was the outbreak of the war in Iran, when Kettner not only did not retreat, but instead increased his stock holdings significantly. This bullish strategy paid off. Since Kettner upgraded his stock rating to an increase in holdings in February 2023, the S&P 500 has risen by nearly 80%, which has helped him top Extel's list of developed European multi-asset strategists for five consecutive years.