Steve Blumenthal, CEO of CMG Capital Management Group, is quoted in The Wall Street Journal “Wealth Adviser” story Fear of Market Risk Ebbs Post Crisis (subscription required). The article begins:
Many high-net-worth investors see recent stock declines as a buying opportunity thanks to lessons learned from the market implosion of 2008-2009.
The financial crisis left wealthy investors with a better understanding of risk and of the importance of liquidity, financial advisers say. In addition, wealthy clients who own small-business now have a more positive outlook on the economy and are willing to take on a bit more portfolio risk, they add.