Technology, medical and pharmaceutical has caught the attention of these high-net worth investors – IAM Network
Source: https://twitter.com/IAM__Network/status/1274415374684033026
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Thomas BarwickThe disaster some wealthy investors have been preparing for has finally arrived.Since the coronavirus pandemic struck, market volatility has become a regular theme for investors. On March 23, the S&P 500 index plummeted to 2,191.86 – an intraday low – but since then, it’s risen by close to 40%.In anticipation of a market downturn, members of an investment club for high-net worth people have spent the last year squirreling away cash.TIGER 21, with a membership of about 770 people with at least $10 million to invest, stands for The Investment Group for Enhanced Results in the 21st Century.During the first quarter of 2020, members kept 12% of their portfolios invested in cash and other equivalents.They’ve maintained that cash allocation since the beginning of 2019 and that’s highest it’s been in seven years.Investors seem to be fattening that cushion even more, said Michael Sonnenfeldt, the founder of TIGER 21.”The preliminary indications, because we’re now tracking it closer, is that cash allocations have gone up, even from the 12%,” he said. In fact, cash allocations now are tracking closer to 18%, Sonnenfeldt added.”Over the last three months, as members have tried to make sense of the pandemic and the economic crisis, they want to not simply batten …
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