It turns out one of the most influential groups of real estate buyers have no idea how to invest, UBS says. The giant Swiss bank polled 1,117 Millennial and Gen X investors, revealing a number of problematic issues. 

For one, Millennials are least likely to take on risk—despite them being of prime age for risky investments. Moreover, Millennials tend to trust “their gut” while investing—hardly a wise choice for an unseasoned investor, the bank says.

And they hold big chunks of their portfolio in cash, giving them low interest returns.

UBS says these are all bad moves—and it shows: Millennials had the most regrets over their choices in the financial crisis.

UBS defined “Millennials” 21 to 37 years old. Respondents between 21 and 29 had at least $75k in household income or $50k in investable assets, while the 30 to 37 age group had at least $100k in household income or $100k in investable assets.

Millennials have least faith in “buying and holding,” and the highest belief that “market timing is everything.” They also are the least happy with their current portfolio. And considering UBS's verdict, that probably doesn't come as much of a surprise. [BI]