Not-So-Great Expectations

Individual U.S. investors are less optimistic about the financial markets in 1999 than they were when they were asked to look ahead a year ago, according to a Securities Industry Assn. survey released Thursday.

About 35% of the poll’s 1,504 respondents said that next year will be a good one for investing, down from 56% who responded that way about 1998, the association said. This year’s survey was taken between Aug. 21 and Sept. 21, after the Dow Jones industrial average had begun its descent.

Among other findings: 60% of respondents said they know only “some” or “very few” of the things needed to make good investment decisions. About 43% reported going online to find investment information, 10% reported trading on the Internet this year, and 29% of those who have not traded that way said they expect to in the next year.