CNBC's Kellys Evans is joined by Jerry Castellini, CEO of CastleArk Management, and Nancy Tengler of Laffer-Tengler Investments to discuss the state of the markets and how they're investing amid the volatility. If the coronavirus has you spooked, you’re in good company. Even wealthy investors are building up their cash cushions.
Global markets haven taken a beating over the last two weeks, amid worries about COVID-19. The pain continued on Monday morning as the S&P 500 tumbled by more than 7% and trading was halted.
Recent market volatility and worries over supply chain disruption have also spurred concerns about an approaching recession.
Well-to-do investors are battening down the hatches, according to Michael Sonnenfeldt, chairman of TIGER 21, an investment club for high-net worth people.
“This is sort of a black swan event, and you couldn’t have anticipated it even a month or two ago,” Sonnenfeldt said.
“Most people who sold businesses and are in wealth preservation mode are focused on mitigating losses rather than getting some kind of huge advantage.”
For access to live and exclusive video from CNBC subscribe to CNBC PRO:
» Subscribe to CNBC TV:
» Subscribe to CNBC:
» Subscribe to CNBC Classic:
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
Connect with CNBC News Online
Get the latest news:
Follow CNBC on LinkedIn:
Follow CNBC News on Facebook:
Follow CNBC News on Twitter:
Follow CNBC News on Instagram:
#CNBC
#CNBC TV
0 Comments