US wealthy focussed on “cash conservation”

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Via Citi:

Citi Private Bank today released results from a survey led by the Private Capital Group, providing a rare insight into the thinking of some of the world’s sophisticated family offices and investors during an unprecedented health and economic crisis.

In one of the private banking industry’s most comprehensive polls* of investor sentiment since the onset of the COVID-19 pandemic, ultra-high net worth individuals and family offices flagged a mood of caution, cash conservation, and monitoring investment opportunities and risks created by the pandemic driving their thinking.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.