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

2019-6-21 15:22

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 rally is running out of steam? Dow futures jump 200 points, just shy of record high Dow Jones Industrial Average futures surged on Thursday after the Federal

The post Dow Nears Record High but this Spooked $200 Billion Fund is Cashing Out appeared first on CCN Markets

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Stock Market Slump Could See Bitcoin Price ‘Make New All-Time High’

Cryptocurrency inventor, fund partner and advocate Max Keiser is predicting new all-time Bitcoin price highs as the stock market tumbled again this week. Bitcoin to ‘New All-Time High’ as Stock Market Slumps A drop in share prices for both Goldman Sachs and Apple has equated to an approximately 160-point loss for the Dow Jones November 12, leading Keiser to suggest the index could collapse to below the significant 10,000 barrier in future.

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