Millionaire investor confidence increases
Confidence among millionaire investors improved last month — a sign that they think the economy is improving.
Confidence among millionaire investors improved last month — a sign that they think the economy is improving, according to Spectrem Group, a research firm.
“The millionaires tend to be more optimistic than the affluent,” said George Walper, president of Spectrem Group. “There has been more comfort in the last month as to what the market is doing to resolve the mortgage crisis and oil prices have dropped and gasoline prices have fallen below $4 in many parts of the country.”
The Spectrem Millionaire Investor Index gained four points last month to -8, its highest level since February. The index declined three points in June.
The decrease sent the index up to neutral territory, from mildly bearish territory.
Meanwhile, the Spectrem Affluent Investor Index, which measures the investment outlook of households with $500,000 to $1 million in investible assets, was flat at a reading of -17, its second lowest level since falling to a record low of -20 in March.
Responding to a question about the factor most affecting their investment plans, the affluent index remained in mildly bearish territory, where it has been since March.
Millionaire and affluent investors alike cited stock market conditions, the economic environment and retirement as their top concerns.
The indexes are put out on a monthly basis by Spectrem Group of Chicago.
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