Recent bouts of market volatility haven't done much to dim investor confidence, according to a new report.

After a year of wild market swings followed by the S&P 500 hitting fresh highs last week, nearly two-thirds of investors expect their portfolios to perform the same or better in the coming months, according to Fidelity Investments' " State of the American Investor " study.

However, while newer investors are increasingly bullish, seasoned investors have a more pessimistic outlook and lower risk tolerance, likely from experiencing other periods of extreme market fluctuations, the report found.

Fidelity analyzed sentiment and behaviors of more than 2,000 adult "DIY investors," or those who manage their own portfolios. The investors had at least $25,000 in investable assets outs

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