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SPY - Americans horribly misinformed about who has money
Welcome to the emerging Plutocracy. We won't even know what hit us:
http://www.ritholtz.co...
No wonder there seems to be such a huge disconnect between the professional chattering class and the rest of us.
They really just don't know.
And ignorance is never a sound foundation for effective policy prescriptions.
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Nothing too revelatory about that, IMO, but it does help explain why the market can rally as it has while retail investors keep pulling their money out of equity funds.