Investors play the blame game
A vast majority of investors are blaming everyone but themselves for their struggle to find value in today's stock market, according to a new poll by the online market research firm, InsightExpress.
In particular, CEOs (72 percent), accountants and auditors (71 percent), and boards of directors (67 percent) were blamed most for the troubled market. Only 17 percent of the 300 investors polled online felt investors themselves share in the blame.
At the same time, 82 percent of those polled admitted that they are not doing enough due diligence before making investment decisions. Cited most often among the reasons: lack of time, complexity of conducting their own analyses, lack of trust in available information, and complexity of published research reports.
Less than half of the investors polled said they contact a broker or investment adviser, and only one-quarter read annual reports. Even fewer take the time to analyze financial statements or listen to company conference calls.
Despite the market's woes, investors maintained unbridled optimism. When asked if they had $1,000 to invest between now and December, 81 percent said they would expect their investment to grow by 10 percent or better. And one-quarter believed their money would double.