From
cnbc: It won’t come as news that the wealthy are pessimistic about the economy,
the government and taxes. But here’s a
surprising bright spot: the majority of the ultra-wealthy plan to buy more
stocks in the next 12 months. In fact, stocks beat out all other asset classes
when it comes to where the rich plan to put their money in 2012.
So
why are the rich buying stocks even if they’re pessimistic about the economy? George Walper, president of Spectrem, says
researchers didn't ask the rich how much money they plan to put into stocks –
just whether they planned to buy.
"This
group is always investing in equities, so this just continues that trend,"
he said.
But
their appetite for stocks is also being driven by returns. Bonds and money-markets are dead meat right
now. As a group, the super-rich are highly aggressive when it comes to return
on their money. The survey found that more than 62 percent want annual returns
or 9 percent or more. Fully 64 percent said they expected to do better than the
stock market. And nearly three quarters
said taking risk was important to creating their wealth. That need for yield is driving many into
stocks, as well as hedge funds and other alternatives…
Don't stop reading now. Go to http://www.cnbc.com/id/48914750
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