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To be fair, it isn’t only the rich they make richer. Think pension plans and other regular folk who rely on returns in their portfolio to retire.
by voisin 2y ago
To be fair, it isn’t only the rich they make richer. Think pension plans and other regular folk who rely on returns in their portfolio to retire.
- Eddy_Viscosity2 2y agoThe richest Americans own the vast majority of the US stock market, according to Fed data. The top 10% of Americans held 93% of all stocks, the highest level ever recorded.
- voisin 2y agoSource? I can’t imagine pensions only hold 7% of stocks.
- neilknowsbest 2y agoI was skeptical too, but it's plausible. According to the Federal Reserve's Distributional Financial Accounts release [0], the bottom 90%'s share of "corporate equities and mutual fund shares" in Q4 2023 was about 13% (5.24 / 39.94) [0] - https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/chart/#quarter:137;series:Corporate%20equities%20and%20mutual%20fund%20shares;demographic:networth;population:1,3,5,7,9;units:levels https://www.federalreserve.gov/releases/z1/dataviz/dfa/distr...