Share investors 'out for quick buck'

BRITONS could be losing out on long-term investment returns by being too hasty to move their money if it is not performing well, a survey has claimed. People are viewing the stock market as a short-term gamble rather than an investment which should be left in place for at least five years, according to Halifax Share Dealing.

The group found that just 7% of people interviewed regarded the stock market as a long-term investment, with most prepared to change providers following short periods of poor returns.

'Many people see stock market investment as a way to make a quick buck and adopt a short-term view with their investment decisions,' said Sue Concannon, managing director of Halifax Share Dealing. 'But for the majority of investors the financial rewards of stock market investment are realised over a longer period.

'A sensible approach for many people is to invest in stocks and shares and look at a five to 10-year time horizon.'

Investors were nearly twice as likely to continue watching a soap opera than stick with an investment, the research showed. They were nearly three times as likely to continue supporting a football team, no matter how badly it performed.

Men were marginally more likely to stick with an investment, with 9% claiming they would stay with a provider even if returns disappointed, compared with just 6% of women. It is not until people reach their 50s that they take a more long-term view, with 11% of people in that age group prepared to stay put, compared with just 3% in their 20s.

Taylor Nelson RSGB questioned 2,000 people face-to-face during February.