Wealthy Americans have less doubt about market rally, economy, but still fear stock investing

The message Altfest has been conveying to clients is to expect volatility will remain in the short-term. "They are happy the market has gone up, but not sure it will last," Prendergast said. "We have clients talking about reducing allocations because they don't feel confident ... some just keeping cash on the sidelines because they are really unsure," he said.

"I don't have more than a handful who I would say are bullish about things," the CFP at the $5 billion wealth management firm Kovitz said. Concerns that the market is pricing in a V-shaped recovery, which is looking less likely based on the recent Covid-19 new case trends, have led to a lack of investor conviction about the U.S. stock market's valuation.

Loewengart said the election fears are a reflection of how important federal policy, from the Trump tax cuts to the Fed and the recent Covid-19 stimulus, has been to the stock market. However, he and other experts said it is the one big fear that investors should throw out. "Don't let politics get in the way of money," he said. "There is no evidence Republicans are better for investments. … If you let politics drive investment decisions you will have bad results. We're happy to take on that argument, but on valuation, not a lot looks cheap to us.

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acorns Stocks rises isn't it

acorns Those guys aren’t wearing masks, what concentration camp do we send them to?

acorns What is this, speaking like Trump? Two contradicting statements?

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acorns Poor babies must worry about investing, gosh golly.

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