What balloon? Millionaires are positioning themselves for a strong market in 2021

If the stock market maintains it, the rich will indeed be richer in 2021.

According to the CNBC Millionaire Survey, 70% of households with at least $ 1 million in investment assets are looking for the S&P 500 to raise at least 5% next year. Nearly a third expected double-digit gains. That would be in the top of a year that has already registered a rally of almost 14%.

With this in mind, most of the 750 millionaires surveyed will add to their equity portfolios in the coming months. Only 9% intend to reduce stocks.

George Walper, president of Spectrem Group, the company that conducted the survey, said he expected to see several of them make plans to exit the market.

“They have clearly adapted to volatility,” he told CNBC.

In total, half of the gold set expects their personal wealth to increase next year, while another 40% expect it to remain the same. “Given everything that’s going on around us, they’re optimistic,” Walper said. “It’s the vaccine and the hope of a reopening.”

The bull case had a bit of a hit on Monday, though DJIA Dow Jones Industrial Average,
+ 0.16%
managed to recover the three-figure losses at the beginning of the session. S&P 500 SPX,
and Nasdaq Composite COMP,
remained below.