CHICAGO, IL--(Marketwire - December 3, 2008) - Spectrem Group (
www.spectrem.com) announced
today that its Spectrem Millionaire Investor Index (SMII)® fell 15 points
in November to a new all-time low of -39.
The decline in the millionaire index, its biggest ever, pushes it into
bearish territory for the first time since the indexes' February 2004
inception. The millionaire index's prior record low of -24 was reached in
October 2008.
Meanwhile, the Spectrem Affluent Investor Index (SAII)®, which measures
the investment outlook of households with $500,000 or more in investable
assets, also fell to a new all-time low, dropping 9 points to -39, its
first bearish reading.
"Millionaires' investment outlook plunged for the fourth-straight month in
November to another record low, landing in bearish territory for the first
time. The broader affluent population ended at exactly the same level,
albeit off a smaller decline. With all eyes firmly fixed on the economy,
the wealthiest Americans seem poised for little investment joy during the
2008 holiday season," said George H. Walper, Jr., President of Spectrem
Group.
In response to an open-ended question about the news story most affecting
their economic outlook, affluent investors in November cited: the economy
(42%); election results (18%); stock market conditions (17%); housing and
real estate (2%) and increasing oil and gas prices (1%). Those choosing
the economy rose from 12% in August 2008, the last time this question was
asked.
Millionaires expressed more concern about the economy (48%) and stock
market conditions (21%) than the affluent, but less about election results
(13%).
Historical Performance
June July August September October November
Spectrem
Affluent
Investor Index® -17 -17 -13 -22 -30 -39
Spectrem
Millionaire
Investor Index® -12 -8 -9 -18 -24 -39
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