CHICAGO, IL--(Marketwire - March 4, 2009) - Spectrem Group (
www.spectrem.com) announced
today that its Spectrem Millionaire Investor Index (SMII)® fell 13 points
in February to -34, its second-lowest level ever.
The index's decline, the third-largest since its February 2004 inception,
returns the millionaire index to bearish territory, which it previously
reached in November 2008 when it set its all-time low of -39.
Meanwhile, the Spectrem Affluent Investor Index (SAII)®, which measures
the investment outlook of households with $500,000 or more in investable
assets, fell 10 points in January to -38, which is also bearish. The
affluent index's record low of -39, identical to the millionaire index's,
was set in November 2008.
"Millionaires and affluent investors alike saw their investment optimism
fall to near-record lows in February, all but wiping out the modest
improvements registered over the two prior months. With both groups'
concerns over the economy skyrocketing despite government stimulus plans,
it is clear that the wealthiest Americans feel the crisis remains far from
a turning point," said George H. Walper, Jr., President of Spectrem Group.
In response to an open-ended question about the news story most affecting
their economic outlook, affluent investors in February cited: the economy
(60%); stock market conditions (10%); housing and real estate (5%); and the
political climate (4%). Those choosing the economy rose from 42% in
November 2008, the last time this question was asked, while those choosing
stock market conditions fell from 17%.
Millionaires expressed slightly more concern about the economy (61%) than
the affluent but were slightly less worried about stock market conditions
(9%).
Historical Performance
September October November December January February
--------- ------- -------- -------- ------- --------
Spectrem Affluent
Investor Index® -22 -30 -39 -31 -28 -38
--------- ------- -------- -------- ------- --------
Spectrem Millionaire
Investor Index® -18 -24 -39 -23 -21 -34
--------- ------- -------- -------- ------- --------
Methodology
The Spectrem Affluent Investor Index® is based on 250 monthly interviews
with the financial decision-makers in households with $500,000 or more in
investable assets. The data have a margin of error of plus or minus 6.2
percentage points. The Spectrem Millionaire Investor Index® is based on a
subset of the overall survey group.
Contact Information: Contact:
Sharon Bially
(774) 270-1293
sharon@farrellkramer.com