Survey: Wealthy Americans Buying More International Stocks
U.S. Trust on Tuesday released the findings of its 2007 Survey of Affluent Americans. This year, those polled had more than $5 million in total investable assets. The survey also included a focus on Americans with more than $25 million in total assets. Paul Napoli, executive vice president of U.S. Trust, appeared on “Squawk on the Street” with more on the study.
The survey revealed that 85% were pleased with their returns last year. “We also found that U.S. investors are moving into international stocks, where they expect higher returns over the next year,” said Napoli.
Napoli said that one of the biggest surprises was the shift in attitudes towards hedge funds. “Over one-half now see hedge funds as good return investments, and also as risk-reduction investments,” said Napoli, “We’re big believers in diversification. You make your money by concentrating and you preserve it by diversifying.”