Some ultra-wealthy investors have begun trimming their stock positions a bit, according to the latest from TIGER 21. Short for The Investment Group for Enhanced Results in the 21st Century, that's a investment club of about 700 people with at least $10 million to invest.
Members of TIGER 21 reduced their stock allocation to 21 percent from 22 percent during the second quarter, according to the group’s quarterly report. These investors continue to maintain a 12 percent allocation in cash and cash equivalents.
What are they excited about? Real estate. TIGER 21 members have stepped up their investments in real estate for the first time in three quarters, with it now accounting for 28 percent of their holdings, up from 26 percent in the first quarter.
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