^{The Spectrem Millionaire Investor Index loses it’s gains from last month, and falls 11 points from October to November, stopping at 3 on the index in neutral territory.} 

 Spectrem Affluent Investor Index (SAII)^®   

 ^{The Spectrem Affluent Investor Index fell 5 points to –5 on the index, still in neutral territory for the sixth month in a row.}

Reacting to a stock market freefall that saw the Dow’s 2007 gains almost erased in a single month, the Spectrem Millionaire Investor Index (SMII)® fell (11 pts.), losing all the points gained in last months short-lived surge back into the stock market.   

The Spectrem Affluent Investor Index (SAII)® also fell, but not as sharply, losing only 5 points and now stands at its second lowest-level ever, just a point above its all-time low of -6 reached in October 2005.  It previously reached this second-lowest level of -5 in August 2006. This smaller drop may be because the Affluent were much more cautious than Millionaire investors.  The drop in Millionaire sentiment is the second sharpest since March 2007’s record 14 point fall, tied with an 11 point fall in June 2006.

The fact that home sales have slowed to a crawl, and large financial institutions have announced billions of dollars in write-downs from mortgage investments gone sour are concerns of the affluent, as are the deeper impact these factors are having on the national economy. When asked “what story in the news most affects their economic outlook”,    concern about housing peaked in August of this year, and remains the highest consideration this month, in our measure of Perceptions of Issues.

In Investment Preferences, which reflects   investor intentions in the near term, Stock investing dropped eight points this month as   Millionaires and the Affluent called an overall  retreat. Also down, though not as sharply was Cash and cash equivalents. Not Investing rose sharply (+7 pts.) signaling the Affluent decision to wait and see what happens with this volatile    market and the Fed rate cut. The only investment vehicle which saw a rise this month was Bond mutual funds. Real estate, Bonds, and Stock   mutual funds leveled off.

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