World's super-rich focus on safe investments Mon Oct 13, 2008 4:02pm EDT GENEVA/SINGAPORE (Reuters) - The credit crunch has scared even the world's richest people into sticking their assets in safe havens. ... "Unless you are in cash, gold or govvies (government bonds), you will lose money. You need to be ultradefensive." ... "Now they are pursuing preservation of capital rather than pursuit of yield, which is a very different stance from a year ago," she said. ... "We wouldn't advise people to be overweight on equities." ... Peter Flavel, the global head of private banking at Standard Chartered (STAN.L: Quote, Profile, Research, Stock Buzz), added that the burgeoning class of Asia's super-rich was more concerned with spending money on their own businesses. ... "A lot of those people are thinking about what to invest in their business. Those who are cashed up are looking to expand their business." ... Ironically DJIA up +900 pts record 1 day rally.... Couldn't make a better script than this
Rich U.S. investors most bearish ever: survey Wed Dec 3, 2008 8:14am EST NEW YORK (Reuters) - U.S. millionaires' investment outlook became the gloomiest on record last month thanks to the deteriorating economy and plunging stock prices, a survey said on Wednesday. Spectrem said affluent investors were moving away from traditional investment vehicles, with the amount of investing in bond mutual funds and real estate both reaching record lows in November. More investors were either not investing at all, the report read, or increasing cash investments in an attempt to avoid a volatile market.
TEST: http://www.tcm.com/thismonth/article.jsp?cid=145079&mainArticleId=144942 A movie from days gone by that relates to the human side of greed how it is easier going up and hurts to come down. Great movie. Pre code films, haha. the code today is anything goes. Everyone smoked in the old movies also. Well smoke away they did but the plots were in general terrific and telling about life. We should be so lucky to get that today .