UBS goes Bearish Equities…too early to be contrarian
August 28, 2019
This morning it was reported that UBS, the largest Wealth Manager in the world had turned bearish on stocks, trimming its core equity position to underweight. I would agree. As far as the US is concerned it has been flirting with a medium term and a long term risk off signal for most of the summer, while most other markets have been suggesting it has been better to sit in cash. With September coming it looks like the big guys will be sitting this one out for a while. It’s a little early to go contrarian yet.