Affluent investors are divided about Bush vs. Kerry
Affluent-Dynamics, a research company specializing in surveying affluent investors with the assets of $1 mln and above, found little difference in expectations regarding the upcoming US Presidential Elections. Affluent-Dynamics says 53% of affluent investors think that the American economy will do better over the next 12 months if President George W. Bush wins in November, against 48% if Sen. John Kerry does. Wealthy individuals are sophisticated people who have been around the block, and “they don’t see the two guys as that significantly different,” says Neil W. Benedict, Affluent-Dynamics’ managing partner.
Affluent investors are mostly worried about the growing U.S. budget deficit, the rising cost of health care and rising oil prices – all of which rank above terrorism as a worry, even though terrorism often ranks above economic issues in other surveys. Two-thirds of those surveyed expressed at least some concern over the sustainability of U.S. economic growth. That finding is at odds with their outlook for investment returns. Affluent investors expect their investments to grow by 7.3% over the next 12 months and by 9.4% per year over the next five years.