CHICAGO, IL--(Marketwire - November 5, 2008) - Spectrem Group (
www.spectrem.com) announced
today that its Spectrem Affluent Investor Index (SAII)® fell 8 points in
October to a new all-time low of -30.
The decline in the affluent index, which measures the investment outlook of
households with $500,000 or more in investable assets, leaves the index
well below its previous record low of -22, reached in September 2008. It
remains in mildly bearish territory, but just one point above bearish.
Meanwhile, the Spectrem Millionaire Investor Index (SMII)® also fell to a
new all-time low, dropping 6 points to -24, a mildly bearish reading. It
reached its previous record low of -18 in September 2008.
"The investment outlook of affluent Americans and millionaires plummeted to
new record lows in October, a month that saw the Dow Jones Industrial
Average's second-largest point loss in history amid an intensifying global
financial crisis. Despite approval of the government's financial bailout
plan, confidence remains extremely weak as investors await signs of its
impact," said George H. Walper, Jr., President of Spectrem Group.
In response to an open-ended question about the one factor most affecting
their investment plans, affluent investors in October cited: stock market
conditions (40%); the economic environment (21%); household cash flow (6%);
retirement (6%); the presidential election (5%) and household income (3%).
Those choosing stock market conditions rose from 27% in July 2008, the last
time this question was asked.
Millionaires expressed slightly less concern about stock market conditions
(33%) yet more concern about the economy (24%) than the affluent.
Historical Performance
May June July August September October
---- ----- ---- ------ --------- -------
Spectrem
Affluent
Investor Index® -13 -17 -17 -13 -22 -30
Spectrem
Millionaire
Investor Index® -9 -12 -8 -9 -18 -24
Methodology
The Spectrem Affluent Investor Index® is based on 250 monthly interviews
with the financial decision-makers in households with $500,000 or more in
investable assets. The data have a margin of error of plus or minus 6.2
percentage points. The Spectrem Millionaire Investor Index® is based on
a subset of the overall survey group.
Contact Information: Contact:
Sharon Bially
(774) 270-1293
sharon@farrellkramer.com