--- title: Millionaire Investors Think Stocks Will Fall in 2023 — but It Could Be a Big Buying Opportunity for You description: 'Investors predict 2023 will be bad for the stock market: Most millionaires think stocks will fall 10%, and investor pessimism is high.' authors: - name: Adam Hardy role: Lead Data Reporter url: https://money.com/author/adam-hardy/ bio: Adam Hardy is a lead data journalist at Money, where he frequently reports on financial barriers that affect low-income Americans. Adam’s work has also appeared in Business Insider, Forbes, Nasdaq, The Penny Hoarder, Yahoo! Finance and more than a dozen local and regional newspapers. education: University of South Florida, BA, Magazine Journalism at_money_since: 2021 articles: 498 covers: - Economy and Politics - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology also_seen_in: - The Penny Hoarder - Forbes Advisor - Creative Loafing - The New York Times - The Washington Post - Bloomberg - Harvard Law School - The Federal Register - National Consumer Law Center - CBS News - Becker's Hospital Review - Business Insider - Mother Jones - The Week - Fortune - The Philadelphia Inquirer - National Association of Student Financial Aid Administrators (NAFSAA) - Education Advisory Board (EAB) - The Institute for College Access & Success (TICAS) - This Morning with Gordon Deal - Empower - Reddit social: - https://www.x.com/hardyjournalism - https://www.linkedin.com/in/hardyjournalism/ editors: - name: Brad Tuttle role: Senior Editor url: https://money.com/author/brad-tuttle/ bio: Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals. education: Columbia University School of Journalism, MS at_money_since: 2014 articles: 366 covers: - Economy and Politics - Banking - Business - Career Advice - Credit - Credit Cards - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology social: - https://twitter.com/bradrtuttle - https://linkedin.com/in/brad-tuttle-834b225 former_staff: true published: '2022-12-23T11:00:30.000Z' modified: '2024-01-10T13:21:18.000Z' section: Economy and Politics tags: - News - stocks word_count: 656 canonical: https://money.com/investors-think-stocks-fall-2023/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Illustration of a stock market graph as if it was a roller coaster with a 2023 getting ready to roll down for the ride](https://img.money.com/2022/12/News-Investors-think-2023-bad-for-stock-market.jpg?crop=0px%2C0px%2C2388px%2C1343px&quality=85) Investors are historically pessimistic about the stock market heading into 2023. But the upside is that the new year could prove to be a great buying opportunity for stocks, especially for younger investors. The [S&P 500](https://money.com/how-to-invest-in-sp500/), a benchmark for U.S. stocks, is down about 19% so far this year, and the majority of millionaire investors expect to see further double-digit declines in 2023, according to CNBC’s [biannual investor survey](https://www.cnbc.com/2022/12/19/millionaire-investors-havent-been-this-bearish-since-2008.html). The survey, which polled more 761 millionaire investors, found that 56% of the group expect the S&P to decline 10% next year — with about a third anticipating the index to plummet more than 15%. Millionaire investors haven’t been this glum since the financial crisis and Great Recession, CNBC noted. And it’s not just millionaires who are worried. A separate investor sentiment [survey](https://www.aaii.com/latest/article/28430-aaii-sentiment-survey-bearish-sentiment-continues-to-rise) from the American Association of Individual Investors shows that pessimism in the stock market is high while optimism is “unusually low.” The survey found that investors have held above-average levels of bearish outlooks in 53 of the past 56 weeks. Meanwhile, [expert predictions for the stock market](https://money.com/stock-market-predictions-2023/) in 2023 are varied, with most expecting continued volatility but promising results in the long term. Of course, no one can accurately predict where the markets are going. At this time [last year](https://www.aaii.com/latest/article/15497-aaii-sentiment-survey-bullish-sentiment-falls-to-a-three-month-low), as inflation started spiking, investors had a much more neutral outlook heading into 2022, with many assuming consumer prices would quickly come back down and stocks would be mostly flat. That obviously did not happen. The doom-and-gloom predictions for 2023 are now being fueled by [stubbornly high inflation](https://money.com/stocks-soar-after-inflation-falls/) and — perhaps more importantly — the Federal Reserve's aggressive action to slow the economy and tamp prices down. The Fed, which is the nation’s central bank, has [hiked interest rates seven consecutive times](https://money.com/fed-interest-rate-hike-december-2022/) after years of not hiking them, and investors are feeling the whiplash. Higher interest rates make borrowing more expensive for consumers and businesses alike and are intended to lower consumer demand when the economy is running too hot. Rate hikes also increase the cost of doing business and could lead to layoffs or missed earnings goals — which can ultimately affect the price of a company’s stock. Following the latest rate hike, the Fed signaled there’s still a long way to go to lower inflation to 2%, its preferred rate. And many worry that too much aggression from the Fed will lead the economy into a recession. The delicate balancing act has many investors uneasy about 2023. "High rates eat into growth and stifle investment, and it’s been tough to process that we could be stuck in this purgatory for months to come," Callie Cox, eToro’s U.S. investment analyst, [recently told Money](https://money.com/fed-interest-rate-hike-december-2022/). ## Buying opportunity for stock market investors Despite the challenges facing the economy in 2023, younger investors tend to be much more optimistic about the stock market, CNBC’s survey found. More than 80% of millennials polled by CNBC reported that they expect their portfolios to actually be higher by the end of 2023. Compare that to 61% of baby boomers who anticipate their assets to be lower. Some financial experts chalk up the optimism of younger investors to inexperience, i.e. they haven’t lived through an economy marred by high interest rates and inflation. Still, there is plenty of time for their portfolios to recover, and [continuing to invest during the downturns](https://money.com/why-keep-investing-when-stocks-down/) could be a savvy move. "Whenever we have market downturns, it’s hard for investors to 'keep their eye on the prize,' but that’s exactly what they need to do," Jordan Sowhangar, vice president and wealth advisor at wealth management firm Girard, [recently told Money](https://money.com/why-keep-investing-when-stocks-down/). "If you are financially able, down markets provide an excellent opportunity to buy into your existing or new investments at generally lower levels," Sowhangar added. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/investors-think-stocks-fall-2023/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Economy and Politics", "item": "https://money.com/economy-and-politics/" }, { "@type": "ListItem", "position": 3, "name": "Stock Market", "item": "https://money.com/stock-market/" }, { "@type": "ListItem", "position": 4, "name": "Millionaire Investors Think Stocks Will Fall in 2023 — but It Could Be a Big Buying Opportunity for You" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/investors-think-stocks-fall-2023/#webpage", "url": "https://money.com/investors-think-stocks-fall-2023/", "name": "Millionaire Investors Think Stocks Will Fall in 2023 — but It Could Be a Big Buying Opportunity for You", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2022-12-23T11:00:30.000Z", "mainEntity": { "@id": "https://money.com/investors-think-stocks-fall-2023/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/investors-think-stocks-fall-2023/#breadcrumb" }, "dateModified": "2024-01-10T13:21:18.000Z" }, { "@type": "NewsArticle", "headline": "Millionaire Investors Think Stocks Will Fall in 2023 — but It Could Be a Big Buying Opportunity for You", "articleSection": "Economy and Politics", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2022/12/News-Investors-think-2023-bad-for-stock-market.jpg?crop=0px%2C0px%2C2388px%2C1343px&quality=85", "width": 1012, "height": 569, "caption": "News-Investors-think-2023-bad-for-stock-market" } ], "author": [ { "@type": "Person", "name": "Adam Hardy", "url": "https://money.com/author/adam-hardy/", "@id": "https://money.com/author/adam-hardy/#author", "description": "Adam Hardy is a lead data journalist at Money, where he frequently reports on financial barriers that affect low-income Americans. 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