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Millionaire investors are betting that stocks will take at least a year to regain their previous highs, according to the CNBC Millionaire Survey.
Despite the continued surge in the stock market since its March lows, millionaire investors remain skeptical of the market’s V-shaped recovery. A majority of millionaires surveyed said the S&P 500 will end the year down, according to the semi-annual survey, which polls 750 investors with $1 million or more in investible assets. More than a third said the market will end the year down 10% or more.
Nearly two thirds say it