Rich Americans are starting to decrease their stock market exposure and move their money into what they see as safer assets amid growing market uncertainty, said Michael Sonnenfeldt, founder of TIGER 21, a peer network for ultra-high-net-worth investors.
Sonnenfeldt told CNBC. “When you’ve created as much wealth, they’re looking to preserve wealth first and foremost and grow it secondly.”
You don’t have to be “ultra-wealthy” to want to preserve your wealth by pulling money out of the stock market during a historic bubble.
Wendy
Got to this point, laughed, moved on.
“Sonnenfeldt said wealthy Americans are investing in bitcoin and gold as they now think both are “secure assets.””
Biggest omission from what little I read, never defined “rich Americans”.
Yep no definition, but the money sloshing around is that unorganized that they’d be the wealthy.