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March 13, 2020 at 02:24 PM
As the decade-long bull market came to an abrupt end, individual investors were not allowing concerns about the economic effects of the market plunge to influence their investment decisions, Spectrem Group reported Friday.
This finding emerged from two surveys, one conducted among 845 investors during the last week of February, the other among 795 investors polled March 4 to 9. Survey participants had a net worth between $100,000 and $25 million, not including their primary residence.
The survey found that from late February to mid-March, investors’ concern level over the effect of Covid-19 on the economy jumped 10 points, from 60.94 to 70.49 on a 100-point scale.
A fifth of investors said they had not been affected by the “Corona Crash.” Seventeen percent reported that they had bought equities during the market decline, while only 9% had sold equities.
Financial professionals appeared to be communicating with their clients during the challenging period, as less than a third of survey participants said they had not heard from their financial advisor from late February to mid-March.
