HSBC Chief Multi-Asset Strategist Max Kettner cautioned retail investors chasing the AI chip stock rally that market dynamics have shifted dramatically, making long-term bullish conviction insufficient to weather short-term volatility. Kettner highlighted that the market's "short-termization" trend has intensified sharply over the past two years. Where fundamental analysis previously supported investment horizons of three to six months, related price moves now frequently play out within a single week. Technical indicators, positioning data, and capital flows increasingly drive short-term prices independently of corporate fundamentals. The strategist noted that for ordinary investors, the primary challenge is not whether they are bullish on AI's long-term prospects, but whether they can adapt to the rapidly changing trading rhythm surrounding the theme.