Adviser To The Ultra-Rich Says The Wealthy Are Pulling Back From Stocks, Real Estate & Investing in These Assets To 'Steady Boat' In 'Choppy Waters'

Rich Americans are starting to decrease their stock market exposure and move their money into what they see as safer assets amid growing market uncertainty, said Michael Sonnenfeldt, founder of TIGER 21, a peer network for ultra-high-net-worth investors. Sonnenfeldt views the shift as part of a broader "rotation" where the rich are preferring to preserve their wealth amid market risks. He's bullish on the stock market in the long term, but warned about uncertainty in the short term. "In the shor