I never knew there’s a millionaire index until I read a piece news from Reuters. The index, The Spectrem Millionaire Investor Index, created by The Spectrem Group, isn’t really a measure millionaires’ wealth, but rather the sentiment of investors who have more than $500,000 or more assets in the household that can be invested.
The Millionaire Investor Index currently has a reading of 15 at the end of April, up 10 points from March. Reading of the index can indicate whether wealthy investors are bullish or bearish about the market. The current value of 15 is in the mildly bullish according to the Reuters news. The previous reading of 5 was in the neutral range, after the roller coaster month from late February to early March.
I don’t find this index particularly useful as it only focuses on a small group of wealthy people and how they perceive the market is different from our small investors because I feel they can tolerate more market fluctuations. When they say they are mildly bearish, I might already feel a bear market.
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