Wealthy Americans are more bullish on the 2007 prospects for the stock market than they are on the outlook for the general economy, accordin...

Wealthy Americans are more bullish on the 2007 prospects for the stock market than they are on the outlook for the general economy, according to a new survey. A survey of more than 1,100 people conducted in October and November for PNC Wealth Management found that while 50 per cent said they believed the stock market would perform well next year, only 38 per cent were optimistic about the prospects for the US economy. Of this group, made up of people with at least $500,000 in investible assets, 35 per cent said they were pessimistic about the economic outlook. A survey of ultra-high net worth individuals – those with $10 million or more in assets – found slightly more pessimism on equities, with only 23 per cent saying they were more optimistic, with 27 per cent counting themselves more pessimistic. Asked how their portfolios were currently allocated, the wealthy Americans said 43.7 per cent was in stocks, 15.6 per cent in bonds, 54.4 per cent in cash, 1.6 per cent in hedge funds, 7.5 per cent in private equity pools and 11.6 per cent in real estate.