The very rich getting very worried

Confidence among millionaire investors fell in April, according to a report by Spectrem Group.

Confidence among millionaire investors fell in April, while the spirits of investors with between $500,000 and $1 million were up, according to a report by Spectrem Group.
The Spectrem Millionaire Investor Index fell one point in April to a reading of -14, bringing the index to a record low.
Since June, the millionaire index has registered a net decline of 34 points.
Meanwhile, the Spectrem Affluent Investor Index, which measures the investment outlook of households between $500,000 and $1 million in investible assets, rose 7 points in April to a reading of -13, following a 10-point decline in March.
For the first time since both indexes’ inception in February 2004, the millionaire index stands below the affluent index.
Millionaire investors said they were most concerned about stock market conditions (28%), retirement (7%) and housing and real estate (6%).
Meanwhile, affluent investors expressed the greatest concern about stock market conditions (27%), the economy (17%) and retirement issues (6%).
“The investment outlook for the affluent was buoyed by April’s financial market upswing,” said George H. Walper Jr., president of Spectrem Group, according to a statement. “With the nation’s economic outlook remaining uncertain, it will be interesting to see if the millionaires’ increased pessimism will be borne out.”
The indexes are put out on a monthly basis by Spectrem Group of Chicago.