These superrich investors just raised cash to record levels to hedge against ‘the greatest period of unknown’

The ultrawealthy, understandably, would like to stay that way. And so, in an effort to do just that, Tiger 21, a group of 800+ investors averaging more than $100 million in assets each, says they’re sitting on a record cash pile of 19% of their portfolio. That’s a spike from 12%, where that figure has been for the past few quarters.