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Rich Families Hoarding Cash

Monday, November 4, 2013 - 4:48 PM
A new survey of family offices by Citi finds that the wealthy are cash heavy—meaning they may fall short of the investment returns they're expecting.

Rich families hoarding cash: Citi
8
ShorebreakShorebreak2,674 posts since
Apr 6, 2010
Rep Points: 14,508
1. Monday, November 4, 2013 - 5:09 PM
"Wealthy families have about 39 percent of their assets in cash, according to a recent poll of more than 50 large family office representatives from 20 countries conducted by Citi Private Bank.

Stocks represented about 25 percent of portfolios on average. Bonds were about 17 percent of the asset mix and various classes of less liquid and alternative investments amounted to 19 percent."

Well, first, I hate/envy those wealthy families:D (kidding).  Second, if a family have saved enough for retirement and rainy days, why would they put their money in a highly risky stock market (or is it called a manipulated casino lately) to potentially get more money??  Third, who is doing the survey again?  Ok, forget about the survey objectivity!:D
7
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,427
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