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The University of Michigan's latest consumer sentiment survey reveals that the median value of U.S. consumers' stock holdings has reached a record $250,000 in October 2024. This figure has doubled over the past year, indicating a significant increase in retail investment activity. Additionally, respondents who own stocks reported an average gain of 65% in their portfolios over the last six months, despite the S&P 500 index rising only 10% during the same period. However, some analysts have raised concerns about the accuracy of these findings, suggesting that a shift from phone interviews to internet surveys may have skewed the results, leading to extreme responses that could misrepresent the true state of consumer investments.
According to UMich survey of respondents who own stocks, the median portfolio has: A) gone up 65% in the last 6m (SPX up 10%), the fastest increase in history B) a value of $250k Retail is all-in here. via @biancoresearch H/t @IfkovicsA https://t.co/MOYIZAMXY8
According to UMich survey, the median of respondents who own stocks claim to have: 1) made a gain of 65% in the last six months. 2) a portfolio worth $250k And this is the median. Something just doesn’t sound right about this. via @biancoresearch https://t.co/WoivM8Q5SU
It is not accurate. Switch from phone interview to internet survey has played havoc with UMich components. Since “portfolio value” is bounded to zero at low end, extreme responses (“I caught a fish THIS big!”) are skewing results. https://t.co/mHYwB41aG2