Business
Local stocks trump cash as rich-listers bank on a healthy outlook – Sydney Morning Herald
Crestone’s chief investment officer Scott Haslem says the fund will remain overweight to Australian equities until at least mid-way through next year.
“Weve spent most of this year thinking through the framework of how do we make investment decisions that arent mistakes?” Haslem says. “How can I avoid making mistakes? I think the classic mistake of this year was being panicked and moving to cash during a crisis.”
Having cash in a low interest rate environment is almost more stressful than riding the vagaries of the stock market, Haslem says. Crestone’s message got through and the former UBS economist says only a small handful of clients panicked…
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