Two Rules | Rule #1 Do Not Lose Your Principal | Rule #2 See Rule #1

FRANKFURT, Germany (AP) — Swiss bank UBS saw its shares slide on Tuesday on news that investors had pulled billions out of its division serving wealthy clients – a token of the market turbulence that has shaken the world in the past few months. The Zurich-based bank, which nevertheless booked higher fourth quarter profits, cited “very low levels of client activity and pronounced risk aversion” as it reported 3.4 billion Swiss francs ($3.3 billion) had flowed out of its wealth management arm, which handles money from rich people outside the U.S. Fourth-quarter outflows from clients in emerging markets and in Europe outweighed inflows in the Asia Pacific region and Switzerland.

Source: News from The Associated Press