New studies show that the wealthy are pulling back from
stocks and stashing more of their money
into real-estate, art and even diamonds, according to CNBC.
A recent survey from Harrison Group and American Express
Publishing found that the wealthy have cut back their allocations to stocks
dramatically since the economic crisis. In 2007, the top one-percenters (by
income) invested 76 percent of their savings into stocks and financial
investments. Now, it’s closer to 46 percent.
That may not sound like an important drop. But the
wealthiest one percent own more than half of the individually held stocks in
the U.S. When they stop buying, it matters……
Read more about it at http://www.cnbc.com/id/47446781
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