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Tiger 21, the world's richest investment club, is cutting back on stocks. Comprised of 123 members with combined assets of $7 billion, the club is focused on investment education for high net-worth individuals (although one one might assume they already know a thing or two about money). The group sports an unusual portfolio:
- 30% stocks
- 28% real estate
- 15.6% fixed-income
- 8.8% private equity
- 9.6% alternative investments (e.g. hedge funds)
- 8% cash
While this may seem bizarre, the portfolio's construction is a result of the unique needs of rich investors, who rely on their investments for income. Very few are still working. It will be interesting to see whether smaller investors follow the lead of the wealthy in moving out of equities. If they do, the next few months could be a doozie for financial markets.
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