The WSJ's Fund Track
column takes a look at Strategic Insight's
fund Flow data and Fidelity's
first Millionaire's Outlook
survey. Millionaires say they are more pessimistic about 12 months from now than today, but they want to buy more stocks anyway.
"We asked the millionaires what their confidence levels were in five different areas of the national economy," explained Emily Chien, a Fidelity senior vice president to the paper. "When we added up all five, going forward they're significantly more cautious than today."
"Millionaire's are looking for opportunities to increase their portfolios," Chien added, according to the paper. "Even though they expect an economic slowdown, they're looking at it as a buying opportunity."
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