Taking guidance from our bi-monthly Australian Investors' Sentiment Survey, overall confidence isn't particularly high, but optimism (if we can call it that) has bounced from the scary, wary volatility days in January. Australian investors remain market neutral, which is probably the best way to describe the dominant general attitude. Cash levels remain relatively high at 19% on average. This time we asked questions about offshore equities and gold/alternative assets too, but don't get too excited: the average portfolio remains deeply embedded in the local share market and gold exposure outside equities is only for the few. The results of the March Australian Investors' Sentiment Survey: (VIEW LINK)