Confidence among wealthy investors declined last month for the first time in three months, according to an index compiled by Spectrem Group.
The Spectrem Millionaire Investor Index fell 3 points from October, to 12, after two months of steady increases, the Chicago research firm said Wednesday.
The index, which had risen 2 points in October and 12 points in September, remained in mildly bullish territory, despite the November decline.
The Spectrem Affluent Investor Index, which measures the investment outlook of households with $500,000 or more of investable assets, fell 3 points, to 4, but remained in neutral territory.
The indexes are calculated on a scale of minus-51 to 51, with a score of minus-10 to 10 indicating a neutral outlook.
In response to a question about the news event having the greatest effect last month on their outlook, millionaires cited the elections (19%), the war in Iraq (18%), and increasing oil and gas prices (18%).
Affluent investors cited the elections (20%), the war in Iraq (18%), increasing oil and gas prices (15%), housing and real estate (6%), the economy (3%), and interest rate increases (1%).
