A UBS survey of 3,400 clients shows the ultra-wealthy group moving into cash, with these investors “fearing” or “bracing for” a major market sell-off. But if you look behind the headlines at their actions and views, these are not fearful but rather patient investors. This podcast (5:31) argues that patience is action based on a thoughtful consideration of investment reality – the reality that the masses buy high and sell low, such that these wealthy investors are preparing to do the opposite.
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