Survey shows investment optimism, economic pessimism.

Despite general economic pessimism, almost 60 percent of ultrawealthy Americans surveyed by PNC Wealth Management are more optimistic about their investments in the coming year than they were at the beginning of 2007. The ultrawealthy—with investable assets of at least $10 million—are often in a better position to withstand market volatility, explains Thomas Melcher, the managing director of PNC’s Hawthorn division.

PNC’s Wealth and Values Survey, released in December, included 1,509 respondents with at least $500,000 in investable assets. In that broader group, 44 percent classified themselves as “more pessimistic” about the national economy in the coming year, up from 35 percent at the beginning of 2007. More than a third are now concerned about a recession, and more than one-quarter are pessimistic about the overall performance of the stock market.