An astounding 40 percent of Americans said the financial crisis had no impact on their life, according to a recent survey by Hartford Funds. Still, 46 percent altered their spending and savings habits since the crisis and 42 percent have avoided the stock market altogether. Meanwhile, even though 2017 has been a banner year for markets, only 17 percent are confident in their investments and aren’t touching their portfolios to prepare for the next recession or market downturn, the survey said.
Hedge Funds Hit All-Time AUM High
Market performance led to another all-time high in assets under management at hedge funds in October, despite redemptions during the month. Year-to-date, hedge funds have taken in a net new $33.3 billion. That new money, and market performance, more than made up for the relatively small $2.9 billion in net outflows during the month of October, according to a report from Evestment. Investors took notable interest in managed futures strategies, investing $2.85 billion in those funds. Top redemptions came from event-driven and macro strategy funds at $3.64 and $3.96 billion, respectively.
Goldman: Brick-and-Mortar Gets Relief
Two weeks after the launch of an ETF betting on the decline of retailers reliant on brick-and-mortar sales revenue, those same retailers posted a good start to the holiday season. The Thanksgiving holiday weekend—the first of the holiday season—brought some relief to brick-and-mortar retailers, according to Matt Fassler, the business unit leader of Goldman Sachs U.S. Consumer/Retail Research. In a video this week, Fassler said a healthy U.S. economy, good weather and rational approaches to Black Friday promotions helped the sector.