The Spectrem Millionaire Investor Confidence Index (SMIC) decreased from seven to one, while the Spectrem Affluent Investor Confidence Index (SAICI) fell from -1 to -5 in December, which are their lowest levels since January 2016 and August 2013 respectively.

Spectrem Group’s High Net Worth Insights Journal found that despite a slight increase in millionaires looking to add to their investment portfolio, cash investing was the only category that increased in December, with declining interest in stock, stock mutual fund and individual bond investing resulting in the six-point drop in the SMICI.

Non-millionaires increas...