Every summer, investment guru Byron Wien(right)convenes two lunches in the Hamptons on Long Island for the ultrarich. He calls them the "Benchmark Lunches," and they are one part investment-conference and part-idea salon for the lucky 50 who are invited.

Most of the attendees summer in the Hamptons but some fly in for the New York event. At least 10 are billionaires. While Mr. Wien points out that "net worth does not always connote wisdom," they all have strong opinions and arent afraid to voice them.

What was being served up this year? Gloom, doom and complaints about the Obama administration.

Mr. Wien writes in his market commentarythat: the group was gloomy on the outlook despite the comfort of the surroundings. They saw the United States in a long-term slow growth environment with the near-term risk of recession quite real. The Obama administration was viewed as hostile to business and that discouraged both hiring and investment.

To the laundry list of other troubles, they said companies and entrepreneurs didnt want to hire because of uncertain health-care costs and taxes. Wall Street doesnt like the new regulations. The government has too much debt and the stimulus didnt work. Our education system is broken, thanks largely to the teacher unions. Good people dont go into government anymore. Washington is both "redistributionist" and paralyzed by gridlock.