Are Millionaires Pulling Out of Stocks?

Posted: 28 Mar 2012 07:44 AM PDT

Financially speaking, it's a good time to be a millionaire.

Stock markets are up. The population of millionaires in America grew by 200,000 last year. And millionaire optimism has surged at its fastest rate in years.

Still, a new study from Phoenix Marketing International shows that many millionaires are pulling money out of their financial investments. The study shows that the percentage of millionaire investors who plan to pull money out over the next 3 months stands is at 12%, a multi-year high. For most of last year, only 7% of millionaire investors were planning decreases in their investments.

Meanwhile, the number of millionaires planning to add to their investments has fallen to 47% from 54%.

Granted, the number of investors adding to their investments outnumbers those who are withdrawing. Yet the trend is to take money off the table. And it stands in stark contrast to the millionaire's financial outlook. According to the study, 53% of millionaire investors are optimistic about the U.S. economy over the next three months. That's up significantly from 34% in December.

The number of pessimistic millionaire has fallen to 40% from 61%.

David Thompson of Phoenix said millionaire investors tend to react more quickly to markets, and some are worried about a market top.

"While the current run-up in the equities markets, coupled with good news on unemployment and progress in the European debt crisis, had fueled their impressive turnaround in confidence in the U.S. economy," he said, "wealthy investors were likely getting advised to exercise some caution regarding putting more money to work in the equities markets (under the premise that they may have reached their peak)."

Why do you think more millionaire investors are taking money off the table?

: Phoenix Marketing International

Lifestyles of the Rich and Ethnic

Posted: 27 Mar 2012 11:54 AM PDT

Bravo's “Shahs of Sunset” show is suddenly drawing big audiences.

: Associated Press; Mike Shouhed, left, and Golnesa “GG” Gharachedagi are shown in a scene from the new series, “Shahs of Sunset.”

The reality show, which features the Chihuahua-toting, sequin-covered, mansion-dwelling excesses of an Iranian clan in LA, wracked up 1.5 million viewers on Sunday – up by more than a third from the previous week.

The show has its critics, of course. Writing in the Jewish Journal, USC's Gina Nahai wrote that the show “consists entirely of every negative stereotype floating around this city about the community. All the women here are vain, stupid and spoiled; all the men are vain, stupid and spoiled. To see these characters, one would never imagine that an Iranian could engage in any profession other than selling real estate, or speak about anything other than looks, money and sex.”

All of which has added up to a huge hit. In fact, “Shahs of Sunset” may have stumbled onto a new formula for the reality TV: wealth + ethnic stereotype = hit.

On TV and in real life, wealth is no longer quite as special or exotic. Yet pairing wealth with an immigrant group offers the promise of both voyeurism and cultural tourism, giving viewers a peak into a culture that's both financially and ethnically alien to the rest of America.

Here’s one sample line from the character MJ: “I love flying private and I feel sorry for people that have to fly any other way.”

I can already picture the multitude of offshoots after “Shahs” success.

We'll have the “The Brahmins of Edison,” and the “Czars of Brighton Beach.” Miami could be the backdrop to either the Cuban “Barons of Brickell” or the Brazilian “Grandees of South Beach.”

Tasteless? Of course. But this is reality-TV we're talking about.