Charles Schwab Survey Finds Retail Investor Clients Confident

by Carla Johnson, Investors Offshore.com

23 November 2001

A survey conducted for Charles Schwab, a leading financial services firm in the US, has revealed a high degree of confidence among investors in the stock market, despite the terrorist attacks of September 11th and present global and economic concerns.

The Harris Poll survey, conducted earlier this month, found that 92 per cent of respondents (Schwab clients) claim that the stock market continues to be the best place for long term investing. Charles R. Schwab, Chairman and Co-CEO, said: 'Despite the market downturn of the past 18 months, and the unprecedented terrorist attacks against our country, 84 per cent of our clients remain comfortable with their investment approach. Further, 66 per cent agree that market conditions will have little impact on their ability to reach their long-term goals.'

' These results illustrate the confidence and faith which investors place in the future of our economy and our financial markets,' he added.

However, the recent market conditions have had a very real impact on many investors. Nearly one-fifth of respondents (18 per cent) reported that as a result of the market downturn, they would have to delay their retirement.

The survey showed that the majority (67 per cent) made no changes to their investment portfolios following September 11. Among those who did trade after the markets reopened on September 17th, many viewed the downturn as a buying opportunity - 41 per cent surveyed primarily purchased securities while an additional 40 per cent both purchased and sold securities and very few, only 14 per cent, reported primarily selling.

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