So UBS has come to the conclusion that the commercial realestate investments it had plus inherited from Credit Suisse is a dead holding and destroying investor returns. They have decided to dump CRE holdings immediately. UBS recently adds to its RED 5 holdings. Once again Gold and the miners ARE DOING THE HEAVY LIFTING. Gold and the miners are the liquid asset with positive returns and the fund managers need the short hedge in and out to cover their over leveraged losses. UBS being forced into Credi Suisse bale out / bale in was always going to be the lynch pin. Once again UBS OUT OF CRE and in to RED 5. Do not be surprised if the old in out in continues so they can cover their ETF portfolios. Said it before Gold Is Doing the Heavy Lifting.
RED Price at posting:
36.5¢ Sentiment: Hold Disclosure: Held
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