TagPictet Wealth management

Dow Nears Record High but this Spooked $200 Billion Fund is Cashing Out

Dow, Dow Jones

By CCN Markets: The Dow Jones closed in on record highs on Thursday, but for one billion dollar fund, this is the perfect time to lock in profits.  Pictet Wealth Management, which manages $222 billion, is cashing out of stocks at the top of the market and piling up cash reserves. The fund is now building a defensive portfolio in the face of global trade war fears. Is it a sign that the Dow Jones...

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