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   Investment Thoughts - Quotes on the Fly

...on the wealth effect
Excerpt

 

"The wealth effect from equities is limited. Most people do not own equities. More Americans own a cat than own equity directly, and less than half of the US population own equities even when indirect holdings like pension funds are included."

 

 

"Economists are calm, even if equities are not", UBS, January 2016-Paul Donovan

18.01.2016