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August 31, 2009 at 08:00 PM
In August, advisor confidence in the economy and the stock market increased, according to Rydex|SGI AdvisorBenchmarking. The Advisor Confidence Index (ACI) — a benchmark that gauges advisor views on the U.S. economy and stock market — was 104.05 in August, up nearly 9% from 95.51 in July.
The ACI bounced back after the July dip, continuing its upward path that started in February 2009, when the index hit an all-time low. Advisor confidence appears to be back on the mend. “The recession is over,” said Bill Ramsay from Financial Symmetry. “The eye of the storm has passed. The market (acted) as a leading indicator to correctly
forecast (the recovery) just like in all other recessions,” added Kenny Landgraf, Kenjol Capital Management.
