Investors get portfolio jitters in October

Investor optimism stayed at par in October, but investors were glum about their own portfolios, according to the UBS/Gallup Index of Investor Optimism. The Index of Investor Optimism rose two points from September to a reading of 70. However, the Personal Dimension of the Index, which measures investors' optimism about their own investment portfolios, tumbled sharply by 8 points to 62 from 70 in September. The Economic Dimension of the Index, which measures investors' feelings about the direction of the overall U.S. increased 10 points from a reading of -2 in September to 8 in October. Pessimism regarding the declining dollar grew to 39% this month, compared to 30% of investors who felt the same way in September. Despite the fact that oil prices recently passed the $80 per barrel mark, investor worries regarding higher energy prices fell five percentage points in October, as 60% of investors said that they believe energy prices are hurting the current investment climate "a lot." The survey, which was taken between Oct. 1 and Oct. 14, sampled 804 investors with household with total savings and investments of $10,000 or more. UBS AG is based in New York and the Galllup Organization is based in Washington.