CHICAGO, IL--(Marketwire - November 4, 2009) - Spectrem Group (
www.spectrem.com) announced
today that its Spectrem Millionaire Investor Confidence Index (SMICI (SM))
fell 2 points in October to -7, its first decline since June 2009.
Despite the October drop, which follows a 5-point advance in September, the
millionaire index remains in neutral territory for a third-straight month.
Meanwhile, the Spectrem Affluent Investor Confidence Index (SAICI (SM)),
which measures the investment confidence of households with $500,000 or
more in investable assets, also fell by 2 points, to -15. The decline
follows three consecutive monthly gains and keeps the index in mildly
bearish territory.
"Millionaires and the broader affluent population saw their investment
confidence decline slightly in October, ending a run of three consecutive
monthly advances that began in July. Despite the erosion, confidence
levels remain higher than they've been through most of the economic
downturn. Overall, this suggests the nation's wealthiest investors are
reacting cautiously to the stock market's October gains and recent signs
that the economy may be coming back to life," 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 (27%); the economic environment (22%); the political climate
(7%); retirement (6%); household income (4%); and household cash flow (4%).
Millionaires expressed more concern about the stock market (29%) than the
affluent, but were slightly less concerned about the economy (20%).
Historical Performance
May June July August September October
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Spectrem
Affluent
Investor -12 -20 -19 -18 -13 -15
Confidence
Index(SM)
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Spectrem
Millionaire
Investor -2 -20 -16 -10 -5 -7
Confidence
Index(SM)
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Methodology
The Spectrem Affluent Investor Confidence Index (SAICI (SM)) 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 Confidence Index (SMICI (SM)) is based on a subset of the overall
survey group.
Contact Information: Contact:
Sharon Bially
(774) 270-1293
sharon@farrellkramer.com