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National Investor Survey 2022 - Who is a Polish investor?

National Investor Survey 2022 - Who is a Polish investor?

created Michał SielskiDecember 7, 2022

Up to 4 137 investors took part in this year's survey Association of Individual Investors. Thanks to this, we know who and what most often invests and what their expectations are. Some answers may surprise you.

The National Investor Study was created for the 20th time. It is the most complete picture of the Polish investor that we can get to know. Not only because the largest group of people involved in investing in the capital market is checked, but also because the questions are the most detailed.

Polish investor more often chooses abroad

– The next edition of the National Investor Survey showed that Polish individual investors reacted to the war, inflation and their consequences. We have opened up more widely to investing outside the country, both directly in shares of foreign companies and through passive instruments, such as ETFs - says Michał Masłowski, vice-president of the Association of Individual Investors.

Nationwide Investor Research 2023

We invest not only in indices of foreign markets, but also specific stocks, and above all ETFs. It is also clear that we value security more and more, which can be seen from the growing share of bonds. On the other hand, it may also result from their increasingly better interest rates directly resulting from inflation. There are also more and more precious metals and bank deposits in wallets.


On the other hand, portfolio diversification is also increasing. The average investor has more and more companies in it. You can also see that their number is growing from year to year. However, it is not known whether this is the result of a broader view of the market or simply ... holding on to losses and waiting for at least some of them to bounce back to the purchase level over time.


The average investor is still most often a man with a university degree, who is on average 42 years old. Interestingly, however, its investment horizon is changing. Especially among those who invest in cryptocurrencies. Although these are the assets with the highest volatility and potentially the greatest risk, it is the cryptocurrencies that the average investor wants to hold in the portfolio for the longest. Like us, running a cryptocurrency pension portfolio.

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However, the average Polish individual investor is not a professional. The vast majority of people rather invest additionally, dealing with it after work. Few people declare that they live and make a living thanks to capital markets.


Most also focus on fundamentals, or rather think so, because the number of investors who define themselves as fundamental players is by far the largest. Just over 8% believe that technical analysis is the most important.


The study also clearly shows that not small amounts are invested. Most investors declare that they trade in the amount of 100-500 thousand. zloty. Slightly less has 50-100 thousand. PLN and almost the same amount from 10 to 50 thousand. zloty. 3/4 of all investors fall within this range.

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However, the fact that we do not expect miracles after capital investments is welcome. The vast majority of people surveyed have a healthy attitude. 28,4% of people expect to earn up to 10% per year, 55,3% of respondents would like to make a profit in the range of 10-20% per year, and 16,3% of respondents hope for a profit of more than 20% per year.

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About the Author
Michał Sielski
Professional journalist for over 20 years. He worked, among others, in Gazeta Wyborcza, recently associated with the largest regional portal - He has been present on the financial market for 18 years, he started on the Warsaw Stock Exchange when the shares of PKN Orlen and TP SA were just being introduced to the market. Recently, his investment focus has been exclusively on the Forex market. Privately, he is a parachutist, a lover of Polish mountains and a Polish karate champion.