The head of Stone Family Office said he doubts the bond market will provide any real return over the next decade, that equity markets will suffer a substantial drop and then be flat, and that too much venture capital and private equity money will continue to chase too few opportunities.
“It’s a very hard time for family offices to allocate money,” said Stone, 60, whose initial wealth came from class-action litigation fees.
Stone has a good vantage point on the action, since he runs the bi-monthly meetings of the Palm Beach Investment Research Group, a network of 35 family offices in Palm Beach, Florida. “The areas to invest in are fewer, and there is a lot of money looking for those spaces,” he said.
That view of the markets is shared by many of the 360 global single- and multi-family offices surveyed for the 2019 UBS Global Family Office Report, which was done in conjunction with Campden Research and released Monday. A majority
‘More Caution’
“There’s more caution and fear of the public equity markets among ultra-high-net-worth investors,” said Timothy O’Hara, president of
Jeffrey Gundlach, chief investment officer of
- Source, Yahoo Finance
