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October 18, 2004 at 08:00 PM
CHICAGO (HedgeWorld.com)–The Spectrem Group reported its Spectrem Millionaire Index fell to neutral in September, after seven consecutive months in mildly bullish terrain.
The SMI measures the investment outlook of households with investable assets of US$1 million or more via 250 10-minute phone conversations each month. In response to an open-ended question about the biggest threat to their household financial goals, 18% of these respondents said the economy, 14% terrorism, 12% the presidential election, 9% unemployment, 7% stock market performance and 6% household income.
“If news from the Middle East is starting to take such a toll on this generally more patient and positive group, it is not at all clear that sentiment will rebound once the November election is behind us,” said George H. Walper, Jr., president of the Spectrem Group, in a statement.
A sister index, the Spectrem Affluent Investor Index, measures the investment outlook of households with US$500,000 or more of investable assets. That index has been neutral since July (see ). It fell in September, too, moving closer to bearishness.
Millionaires have been measurably more optimistic than the “affluents” throughout this year, Mr. Walper said.
