RICH PEOPLE LOVE BERKSHIRE HATHAWAY
Rich People Love Berkshire Hathaway
Berkshire Hathaway remains the number one stock pick for members of Tiger 21, a New York-based peer-to-peer learning network for high net worth investors.
OCTOBER 22, 2013 | by SARANYA KAPUR
Bloomberg reports that Apple, which has traditionally held the number one position, fell to number 2 this year. “The bloom is off of Apple,” Michael Sonnenfeldt, founder and chairman of Tiger 21, told Bloomberg. “For people who held Berkshire Hathaway it’s held its appeal, but for Apple, a lot of people who were on that ride have realized that perhaps the best days are behind it.”Apart from Berkshire and Apple, the group’s top five investments included, for the first time, two exchange traded funds. The iShares MSCI EAFE Index Fund, which tracks developed markets in Europe, Australia, Asia & the Far East was No. 3 and the SPDR S&P 500 ETF Trust (SPY) ranked No. 5.ETFs saw record inflows of $47 billion since the beginning of September, and have been attractive to investors because of their low fees and them providing retail investors with easy access to previously inaccessible segments of the market.Hedge funds fell out of favor with the members of Tiger 21, who said they preferred public and private equities as asset classes. According to Bloomberg, the preference for hedge funds has been declining over over the past two surveys. Read more: http://www.businessinsider.com/rich-people-love-berkshire-hathaway-2013-10#ixzz2iYLT2mw7