Half of world's wealthy bracing for huge sell-off in 2020, UBS says
A majority of the wealthiest investors in the world are preparing for a huge market sell-off in 2020, according to a new report released by UBS Wealth.
More than half of the 3,400 high-net-worth individuals surveyed by UBS said they think there will be a significant market sell-off before the end of next year, according to the report, which was conducted between August and October.
“The rapidly changing geopolitical environment is the biggest concern for investors around the world,” Paula Polito, client strategy officer at UBS GWM, said in a statement. “They see global interconnectivity and reverberations of change impacting their portfolios more than traditional business fundamentals, a marked change from the past.”