The stock market correction hasn’t hurt wealthy investors as much as may have been expected; many had anticipated the dip and made adjustments. Tiger 21’s asset allocation survey of its 115 members, who collectively manage investments of more than $7 billion, showed that in 2006 they had cut back on public equity holdings, dropping their allocation to just 30 percent from 37 percent at the end of 2005. Financial advisors generally advocate keeping 50 to 60 percent of a portfolio in stocks.

“Many top-tier investors—our members included—know the public markets are prone to rapid mood swings of the sort we’ve witnessed, caused by geopolitical events or pronouncements by a former Federal Reserve chair,” Tiger 21 founder and chairman Michael Sonnenfeldt said. “But generally our members are long-term investors and try to have the discipline of not getting overly excited by these shifts, because over the long haul, they feel comfortable with their choices.”

The survey also showed a steep hike in portfolio allocations to alternative investments: 9.5 percent at year-end 2006 compared to 4.5 percent in 2005.