“The superrich are selling stocks, buying properties and keeping cash ready”
August 8, 2019
“In the first quarter, Tiger 21, a coalition of 750 members worth in excess of $75 billion, raised cash to levels not seen since 2013. Not much changed in the second quarter in terms of keeping powder dry. The group’s holding 12% in cash.
What has changed, however, is that these deep-pocketed investors, in the call of the day, are continuing to move away from equities and build up their positions in real estate. As Tiger 21 President Michael Sonnenfeldt previously told MarketWatch, the stock market is “‘priced to perfection’ and rising economic inequality leading to greater polarization in America and elsewhere.”…”
It’s always a good idea to keep an eye on the super rich. Basically they think real estate is an better option than stocks at the moment. At least that’s what I get out of this article. Also cash is still king.