Even as the market ascends to new heights, wealthy investors are bracing for a turbulent period that could produce a “significant drop” in equity benchmarks in the near term.
Indeed, wealthy investors hold 25% of their portfolios in cash, far higher than the roughly 5% that UBS recommends on average. The WSJ said assets in money-market funds have grown by $1 trillion over the last three years to their highest level in around a decade, citing Lipper data. Axios last week reported that firms are trying to protect themselves from a recession, noting that the recent pullback in spending by major companies could in fact help to cause a recession or exacerbate any downturn in the economy.
I’m hoarding cash for the strip club
Then follows inflation.
It’s all smoke and mirrors
I thought they are supposed to be making more jobs!
kirillklip And if they are smarter they have at least 1% in Bitcoin - GetOffZero
So they missed the 23 percent upturn this year trying to time the market? They may be wealthy but that doesn't make them smart.
You can’t go wrong investing in goats 🐐
This is the new norm. New investments come out of nowhere. It is also important to know that ALL that 25% is from excessive returns over profitability requirements.
Because banks are on a misson to sell products to make money -and cash isnt one.
Tjat supports the record markets! Up up up and away!
Why we need a wealth tax
I only use cash...anything else and they can get your identity...pretty soon they are claiming all your cats.