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  1. Wealth
March 5, 2009

Millionaires’ confidence plunges

By Spear's

An index which measures the confidence of US millionaires, the Spectrem Millionaire Investor Index, has fallen its second-lowest level ever.

An index which measures the confidence of US millionaires, the Spectrem Millionaire Investor Index, has fallen its second-lowest level ever.

The index’s 13 points decline to -33, the third-largest fall 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, 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 very much at the bearish end. The affluent index’s record low of -39, identical to the millionaire index’s, was set in November 2008.

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