We present evidence from a repeated survey on risky asset holdings carried out on a representative sample of the German population six times between April and June 2020. Given the size of the Covid‐19 shock, we find little evidence of portfolio rebalancing in April 2020. In May, however,...

High-wealth individuals are typically underrepresented or completely missing in population surveys. The lack of comprehensive national registers on high-wealth individuals in many countries challenged previous attempts to remedy this under-representation. In a novel research design, we draw on...