With the ultra-wealthy sitting on a sizable amount of cash, its good news for the markets that more than half now say they’ll buy stocks or mutual funds in the coming year, according to a survey from Spectrem Group..
The study surveyed U.S. households with a net worth between $5 and $25 million, excluding their homes. Their average cash balance, including money market funds, checking, savings, Treasury Bills and CDs, was $659,000 at the end of 2010, 10% of their total investable assets.
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