CHICAGO (HedgeWorld.com)--Spectrem Group announced the return of its Spectrem Millionaire Index to mildly bullish levels in October, after September's dip into neutral territory.
The broader Spectrem Affluent Investor Index, though, which measures the investment outlook of households with US$500,000 or more in investable assets, remained at a neutral level in October. It has been neutral since July.
"The re-emergence of millionaires to the ranks of the bullish is good news for all investors, since this group tends to be a trendsetter for the affluent population as a whole," said George H. Walper Jr., president of Spectrem Group, in a statement. "Their responses to our October survey, combined with the relatively flat performance of the affluent index for the past three months, suggests we may be seeing a bottom to the greater pessimism investors have exhibited since midsummer."
The Spectrem Group is a strategic consulting firm specializing in the affluent and retirement markets, (see ).
Its Affluent Investor Index is based on 250, 10-minute telephone interviews each month. The Millionaire Index is based on a subset of that survey group, which can vary each month but is typically drawn from more than 100 interviews.
In October, the election ranked only fourth among the factors affecting the investment plans of the broader sample-behind stock-market performance, the economy and household cash flow.
There was little divergence between the affluent and the millionaire samples in their rating of their concerns.
Also receiving some mentions as reasons for concern: interest rate increases, household income, low investment returns, retirement and job security.
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