Farvahar Partners Managing Director Omeed Malik discusses the strength of economic fundamentals, former New York City Mayor Michael Bloomberg's eligibility, values in private markets and trade agreements.
A majority of the richest investors in the world are preparing for a huge market sale -of 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 believe there will be significant sales on the market by the end of next year, according to the report, conducted between August and October.
"The rapidly changing geopolitical environment is the biggest concern for investors around the world," Paula Polito, customer strategy at UBS GWM, said in a statement. "They see global interconnection changes and reverberations of changes affecting their portfolios more than traditional business fundamentals, a marked change from the past."
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Overall, almost almost one-fifth ̵
President Donald Trump (AP Photo / Susan Walsh) (AP Photo / Susan Walsh)
This is partly because 66 percent of respondents believed that the market would be driven more by geopolitics than by basic ones. Among the biggest concerns for the ultra-rich included the 16-month US-China trade conflict and the upcoming presidential election.
INVESTORS WANT TO TRUMP TO TALK FOR PROGRESS IN CHINA TRADE Negotiations
Last week, stocks rose record highs, boosted by optimism about the possibility of a trade between the world's two largest economies. But shares fell on Monday amid the countries struggling to finalize a stage of a trade agreement.
Despite reservations a year ahead, 69 percent of respondents said they were optimistic about return on investment over the next decade – a trend most evident in millennials and other young investors.
The investors that UBS investigated have at least $ 1 million in investable assets.
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