Quote:
Originally Posted by Cynthetiq
calpers can't but there are many pension funds, and 401k, 503, all those should be lumped into there as well.
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I think I was going in circles there for a moment.
FYI, the CalPERS info:
Asset Allocation
The wealthiest 5% (w5) own 65.9% of that particular class of assets (common stocks) but a much higher percentage of non-publicly traded business assets. That explains the higher number in the business asset category.
The w5 may own a smaller part of common stocks because they're less secure. During a crash like we're seeing, the common stocks go first. After that come preferred stock holders, and then bond holders are fine because the lesser holders cushion the effect. And as you go from common stocks to bonds, the percentage of ownership in the w5 increases from about 65% up to about 93%.