Billionaires look to exit equities after turning quick profit

FILE PHOTO: The logo of Swiss bank UBS is seen at a branch office in Basel, Switzerland March 2, 2020. REUTERS/Arnd Wiegmann/File Photo

During the rout in stock markets across the globe in March, UBS’ richest customers took out loans to place billions into crashing stock markets. They are now looking to pull that money from equities and put the profits in illiquid and private assets, UBS’ head of global family offices told Reuters. “We had record loans written during the middle of March and the middle of April, of significant family offices who asked us for balance sheet and then went into the market,” Josef Stadler said in an interview. “They bought, for example, U.S. equities, but they didn’t buy $50 million. They bought a billion-plus of those equities to rebalance. And they made a lot of money.”

Stadler said the trend had largely been seen in Asia and he expected it to accelerate in the last quarter of 2020 and into the early months of 2021. As a consequence, he expected equities markets to soften throughout the rest of this year.

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HughesNeghaiwi JessopReuters Thank Elon

HughesNeghaiwi JessopReuters Don’t worry billionaires, we’ll handle the yachts and jets down here np.

HughesNeghaiwi JessopReuters I thought UBS stopped taking American clients after paying huge fines.

HughesNeghaiwi JessopReuters UBS probably shorted the close

HughesNeghaiwi JessopReuters The smart money is on the move. Retail traders, take note.

HughesNeghaiwi JessopReuters I do not buy that story.

HughesNeghaiwi JessopReuters Billionaires should not exist. Not if Capitalism was actually working. But its not. Billionaires exist because capitalism is failing.

HughesNeghaiwi JessopReuters IMPENDING FINANCIAL implosion. Can’t hideBTC. It’s all of it 25trillion elites avoid taxes. All about vatervatderies now. My allegiance: my vater’s Bundesmarine uB°AT.T212 june17: citizenship to illegitimate children 🇾🇪ask ur ⚓️ they know Obama broken title: Haün Honolua Villager

HughesNeghaiwi JessopReuters Indeed a process that can work with a strong balance sheet. A simple preservation move with low risk high reward as recovery always happens.

HughesNeghaiwi JessopReuters cool cool, us teachers are just trying to figure out how not to die next school year

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