Investors have been frantically rejigging their portfolios ever since the world witnessed violent swings in the stock market. Amid fears of a global recession, investors have been flocking to less volatile investments like cash.
“Cash is king. Warren Buffett has just come out and said that anybody who thinks cash is king is going to outperform stocks at this level,” Kirby Daley, senior strategist at the Newedge Group said on CNBC Asia Pacific’s “Protect Your Wealth” segment.
Daley, who prefers to stay out of equities entirely, says there are also good opportunities in the credit space. “There are lots of good corporate bonds out there, a lot of good convertible bonds, a lot of good municipal bonds.”