What are the Millionaires Investing in?

First of all Happy Thanksgiving.  This was my first Thanksgiving as a father and my wife and I enjoyed it with our new triplets in downtown Detroit at the traditional Thanksgiving day parade.  The kids met Santa for the first time without any meltdowns so I consider the day a success.


While combing through the articles of the day I found this interesting piece via the WSJ on how millionaires are making their investment choices

• Only one in ten millionaires are optimistic about the U.S. economy – the lowest since the survey started in 2006, and even below the 2008-2009 crisis levels.
• 75% surveyed are pessimistic about the economy’s prospects in the next six months.
• They say the private sector is generally working, but nearly half say the U.S. financial system has “serious flaws in how it’s working.”  In other words, they think Washington is incompetent, the U.S. is going to the dogs and Wall Street is still out of control. Sounds like most Americans.

Most indexes were down in steep fashion the first three days this week thanks to continued issues in Europe and the failure of the super committee.  On this day of thanks it probably best to take a moment to regroup and think about all of the things that we are truly thankful for as the relative bad news continues to swirl around us.  Remember someone always has it better than you and someone always has it worse than you.