Conflicting numbers from Phoenix Marketing International bimonthly survey of affluent and high-net-worth investors suggests that while they’re gloomier than usual about the economy’s prospects, they’re also investing more in the market than they were.
This survey, which Phoenix conducted in late-August/early September, polled 1,273 people on their current level of optimism about the market. Their three-month outlook was as bad as it was in early 2009 (59% were negative; that same number was positive as recently as April), but balances in deposit accounts increased more slowly as investors siphoned more money off into alternative investments, annuities and cash-value life insurance. The amount of investors planning on depleting their stock holdings doubled from 7% in April to 14% today.
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