Simon isn’t smiling…A new study finds wealthy people are holding 25% of their wealth in cash today. UBS is frustrated that people are resisting the siren call to buy financial products with all of their life savings.
Cash holdings are entirely prudent at the best of times for liquidity and future opportunities, and with most assets in the world at lethal levels, 25% and more of wealth in cash today is extremely wise. “A level far higher than we would recommend,” say the risk-sellers. How are the bankers to gouge their never-ending fees, if people insist on keeping a quarter of their wealth out of Ponzi markets in liquid cash? Poor Simon. Here is a direct video link.
Hey Simon, we would love to help you pay off your student loans and fund your exotic car lease, but how’s anyone to take advantage of “buying opportunities” when the long-always crew is always recommending we perpetually buy and never sell?
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