Carl Icahn is the latest billionaire to be on the wrong side of the stock market rally as his big bet on Hertz crumbled. U.S. stocks are continuing to climb, and ultra high net-worth investors are not re-entering the market.
The U.S. stock market increased by 7.5% since May 13, within less than three weeks. Tech, biotech, and semiconductor led the market uptrend, as Apple, AMD, NVIDIA, Microsoft, Vertex Pharmaceuticals among other stocks outperformed expectations.
Why Are Billionaires Cautious About The Stock Market?