this post was submitted on 04 Oct 2024
50 points (86.8% liked)
Stocks
820 readers
4 users here now
A community for discussing stocks.
Rules:
- No bigotry: Including racism, sexism, homophobia, transphobia, or xenophobia. Code of Conduct.
- Be respectful. Everyone should feel welcome here.
- No NSFW content.
- No Ads / Spamming.
- Be thoughtful and helpful: even with ‘stupid’ questions. The world won’t be made better or worse by snarky comments schooling naive newcomers on Lemmy.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
It could mean that, or maybe the rich own most of those mutual funds too? Unfortunately the video links to a probably-AI-generated Medium article that references an article by The Atlantic that is from 2007 and about an unrelated topic and obviously isn't the actual source for the 89% figure, so checking the actual numbers would require more work.
About two thirds of Americans have retirement money in the stock market. “Institutional investors” include retirement funds and mutual funds.
Source: https://crsreports.congress.gov/product/pdf/R/R47699
Here’s a good breakdown of wealth inequality in the US
That doesn't really answer the question of whether the 89% figure is misleading due to regular investors having stake in institutional investors though, as suggested by the comment above mine. This would require information on the proportion of those funds owned by wealthy people vs non wealthy. That said you're clearly giving better info than the OP video so kudos for that
The second link I posted shows that.
Edit: this goes into a lot of depth on income, assets, and debts by quartile: https://usafacts.org/articles/how-this-chart-explains-americans-wealth-across-income-levels/