The post-election euphoria has given way to a month of the market going nowhere. So what's an individual investor managing their own money to do?
Diverging views from billionaires on a Trump stock strategy aren't much help. Liberal icon George Soros still thinks his uber-pessimistic Trump short will be proved right. John Paulson — who was right about the "Big Short" — has increased his long exposure. And eternal America optimist Warren Buffett — being Buffett — told CNBC on Friday that the United States will be just fine under Trump, though he has no idea where the stock market will go in the next 10 days or two years.
A look at how average, ordinary millionaires who manage their own stock portfolios are investing might offer better advice.
They aren't showing signs of doubt, according to results from an E-Trade Financial survey conducted this month and provided exclusively to CNBC. These investors who manage at least $1 million in their brokerage accounts are not exuberant, but they remain moderately bullish on the U.S. economy. And they are even more bullish on the stock market, even if they don't expect a major move up in the first quarter and do expect the Federal Reserve to raise rates several times this year.
Only 10 percent of millionaires said they plan to move out of market positions and into cash as Donald Trump takes office.