Millionaires more pessimistic than the affluent, survey
Millionaires are more pessimistic about investment prospects than the affluent, according to a survey by the Spectrem Group, a US researcher.
Spectrem’s millionaire investor index fell one point in April to -14, dropping below the affluent index for the first time ever.
The decline in the millionaire index brings it to a new record low of -14, below its previous all-time low of -13, set in March 2008.
Spectrem’s affluent investor index, which measures the investment outlook of households with $500,000 or more in investable assets, rose 7 points in April to -13, following a March 2008 decline.
"Millionaires have become more pessimistic about their investments than the broader affluent population for the first time since we began tracking both measures in early 2004. Continuing a downward trend that began in June, millionaires' optimism eroded once again in April, sinking to a new low as the prospects for a recession continued to weigh heavily,” said George Walper, president of the Spectrem Group.
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