The world's biggest wealth manager says it's time to sell stocks

  • 📰 CNN
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 95%

Business News News

Business Business Latest News,Business Business Headlines

The world's biggest wealth manager says it's time to sell stocks. 'Over this next six-month period, we think it could be a rockier road for equities,' UBS Wealth Management Chief Investment Officer Mark Haefele says.

For the first time since the eurozone crisis, the world's biggest wealth manager is bearish on stocks.In a note to investors, UBS Wealth Management Chief Investment Officer Mark Haefele said that the group, which manages more than $2.4 trillion, has shifted to an"underweight" recommendation on equities.

Watch this space: The leaders of Corporate America are also selling stocks, my CNN Business colleague Matt Egan reports from New York.Corporate insiders have sold an average of $600 million in stocks per day in August, according to TrimTabs Investment Research, which tracks stock market liquidity. August is on track to the be the fifth month of the year in which insider selling tops $10 billion.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

True! Buy gold/silver bullion!!!

But the economy is doing great!!!!

Analysts have successfully predicted 198 of the last 3 recessions

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asia stocks, bond yields rise as trade war fears easeAsian stocks tracked global peers higher on Tuesday while safe-haven bonds sold ... Is Reuters cheering on China? lol
Source: Reuters - 🏆 2. / 97 Read more »