(Washington, DC) Commissioner Thomas E. Hampton of the District of Columbia Department of Insurance, Securities and Banking (DISB) said he was deeply concerned to learn today that only one out of 100 investors knows or puts into practice eight basic “investing secrets,” and that just a bit more than a third (37 percent) get half or more of the fundamentals right.
That is according to the findings of the new “MoneyTrack/Investor Protection Trust Investing Secrets Survey” conducted by Opinion Research Corporation (ORC). The first-time-ever survey of more than 1,000 US investors is being released in conjunction with the second season of the MoneyTrack public television series, which will be aired in the District on WHUT Channel 32, beginning May 14, 2007, at 6 pm. There will be 15 episodes, each 30 minutes long.
MoneyTrack is designed to help investors understand several of the investing secrets that are critical to success in personal finance. The nonprofit Investor Protection Trust (IPT), which works with DISB, is a major supporter of the MoneyTrack public TV series.
“These survey results underscore in truly stark terms the importance of investor education in Washington, DC,” Commissioner Hampton said. “We need to maintain our efforts to make our District residents savvier investors who are ready to save and invest for any reason they so desire. DISB is committed to working with the Investor Protection Trust and other groups to understand the nuances of investing.”
Don Blandin, president and CEO, Investor Protection Trust, said, “Knowledge and action are crucial components of being a savvy investor. Too often, investors are uninformed and don’t take necessary action steps such as checking the background of the financial professionals to whom they entrust their money. To be safe and wise investors, Americans must learn the essentials and use that knowledge to make good investing decisions.”
Of all those American adults surveyed by ORC, 63 percent identified themselves as investors. To see the full “MoneyTrack/IPT Investing Secrets Survey,” go to www.moneytrack.org on the Web.