Most Americans don't realize the stock market gained 30 percent last year, and only 1 in 9 call themselves savvy about investing, according to a recent survey.
Gallup found that 37 percent of those polled believe the market increased 10 percent in 2013, a year in which the S&P 500's total return was 32 percent. Just 7 percent recognized the 30 percent gain, and 9 percent thought stocks actually decreased.
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Those results mesh with a general distrust of the market. Given the choice of what to do with an extra $10,000 in cash, 41 percent said they would put it in the market, but 36 percent opted for cash and 20 percent chose a near-zero yielding certificate of deposit.
The sample audience wasn't exactly random, either: The Wells Fargo/Gallup Investor and Retirement Optimism Index poll asked questions of investors with at least $10,000 in stocks, bonds, mutual funds or in retirement programs such as a 401(k) or IRA.
Only 16 percent of respondents said they were "not nervous at all" about stock investments, while 11 percent classified themselves as "extremely nervous" and 34 percent as "somewhat nervous."
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As for market savvy, the results showed a low level of sophistication. Just 11 percent classified themselves as "highly knowledgeable," while 36 percent were "somewhat knowledgeable" and 33 percent responded "not that knowledgeable" about stocks.
They're a hopeful group, though: Over the next 12 months, 46 percent said they are optimistic, while just 26 percent said they were "pessimistic" about stock performance.
This piece originally appeared in CNBC.com.
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