The share of millionaires planning to investing in stocks this year rose to 55 per cent, up 10 per cent from 2010, according to a survey of 1,450 millionaires by SpectremGroup.
That’s a nice increase, but it doesn’t mean they’re bullish on the economy.
“Millionaires are taking more risks, but not necessarily because they feel things are better from an economic standpoint,” Spectrem president George Walper told BI. “It’s strictly the challenge of desiring a better return and that’s been available because interest rates are so low. At the same time, they are also holding back money in reserve.”
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