Volatility Reducing Investor Confidence

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    Continued market volatility is taking its toll on the confidence of wealthy investors, says Spectrem Group’s most recent ‘Millionaire Investor Confidence Index’ (SMICI), which fell by eight points in October to six, its second monthly decline. During the same period, the Spectrem ‘Affluent Investor Confidence Index’ (SAICI) dipped by a third to four. October’s results underscore growing concerns among millionaire investors about the state of the markets and reveal a rising bearish sentiment. For the second consecutive month, millionaires indicated they intend to stay on the investment sidelines rather than investing. “Affluent investors have consistently pointed to market conditions as the most important factor affecting their investment plans,” says George H. Walper, Jr., president of Spectrem Group. “However, it’s important to note that while millionaires may be wary in the short term about investing, they remain optimistic longer term, as indicated in an increase in the October ‘Spectrem Affluent Household Outlook’.”