Wealthy investors now have more confidence in the economy than they've had in almost three years, Chicago consulting firm Spectrem said Wednesday. The company's Millionaire Investor Confidence Index swung from a negative number last month, which indicates pessimism among millionaires about U.S. investment prospects, into neutral territory.

The Spectrem Millionaire Investor Confidence Index sits at 0 this month, up from a negative 6 reading in September. It's now at its highest level since December 2007, when the index hit 8, according to Spectrem. Meanwhile, the Spectrem Affluent Investor Confidence Index, which surveys households with at least $500,000 in investable assets, increased to negative 13 from negative 16 in September.

Both indices have advanced for the second straight month, indicating that investment confidence among the wealthy has been on the upswing since hitting bottom in August. Much of the improving sentiment has to do with the stock market and the overall economic environment, which respondents said were about twice as likely to influence their investment plans than their own cash flow or the U.S. political climate, according to the surveys.

But the numbers indicate cautious optimism at best, Spectrum warns. "While the stock market's October gains clearly contributed to this positive trend, underlying economic fundamentals remain a top concern for America's wealthiest investors," George H. Walper, Jr., president of the company, said in a statement.

And, of course, the feelings of the wealthiest investors may differ widely from those of investors with fewer assets.

Increase your money and finance knowledge from home

Economics 101

Intro to economics. But fun.

View Course »

Socially Responsible Investing

Invest in companies with a conscience.

View Course »

Add a Comment

*0 / 3000 Character Maximum


Filter by:

If it's true, so what! There's a bunch of us who ARN"T confident AT ALL!

October 28 2010 at 6:13 PM Report abuse rate up rate down Reply

And this study out of Chicago is actually factual ?? As one of those millionaires myself this makes no sense as long as Obama is in Washington where he changes the rules to accomodate his agenda that is ruining this country worse than ever. As long as he keeps printing and borrowing $$ we are doomed...

October 28 2010 at 2:54 PM Report abuse -3 rate up rate down Reply

I cannot imagine anyone being confident in the economy with a trillion dollar national debt and no correlation between minimal federal taxes collected from everyone and money spent in washington and The Fed printing and diluting our dollar....unless you own gold.

October 28 2010 at 9:40 AM Report abuse -1 rate up rate down Reply

Do you think this means that investors will stop pulling money out of the US markets?

October 27 2010 at 9:47 PM Report abuse +3 rate up rate down Reply