Affluent investors grew more confident in February, according to a survey released Wednesday by Spectrem Group, a Chicago research firm.
Spectrem's Affluent Investor Index returned to mildly bullish territory last month, gaining 3 points to an overall reading of 11.
The index, which samples the investment outlook of households with $500,000 or more of investable assets, reversed a January decline into neutral territory.
Spectrem's Millionaire Index has been consistently bullish since late 2004. In February it rose one point, to 21, its fifth straight month of a mildly bullish reading.
In response to an open-ended question about the news events influencing their economic outlooks, affluent investors mentioned the Iraq w ar, 20%; Social Security, 12%; the deficit, 8%; and rising oil and gas prices, 6%, as top concerns.
For millionaires, the top issues were Iraq, 19%; the deficit, 12%; Social Security, 8%; and interest rates, 8%.
Social Security had barely registered as a concern in earlier surveys.
