The US bank Goldman Sachs advises its super-rich private customers from all over the world to stocks and bonds from the USA.
(Photo: AP)
Frankfurt John Mallory meets hundreds of wealthy investors every year and personally oversees a handful of family offices. Despite the devastating first half of the year on the markets, most customers are relaxed, says the co-head of global private wealth management at Goldman Sachs in an interview with the Handelsblatt.
Despite the uncertainties, the US bank is sticking to its investment strategy: “We have been advising our customers for a long time and without change to stay invested and focus on US stocks,” says the manager.
Mallory believes that most of the downturn in the markets is already over. He sees the greatest danger for the economy and the stock exchanges in inflation that is still rising significantly and for a longer period of time.
However, the banker assumes that inflation will soon have peaked. And he points out: Historically, the stock markets have risen sharply shortly after an inflation peak.
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