World’s Richest Are Waiting for New Dip in Stocks Before Buying
- UBS poll participants say recession likely in next 12 months
- 23% of those surveyed say it’s a good time to buy equities
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The majority of the world’s wealthiest investors are waiting for stocks to drop further before buying again, on concerns about the pandemic’s impact on the global economy, according to a poll by UBS Global Wealth Management.
Among the surveyed investors and business owners with at least $1 million in investable assets or in annual revenue, 61% want to see equities fall another 5% to 20% before buying, while 23% say it’s already a good time to do so. Some 16% say that now is not the time to load up on stocks as it’s a bear market.