Percentage of stockholders

[Christian Gregory]

Check out the Survey of Consumer Finances summary of the most recent study:

http://www.federalreserve.gov/pubs/oss/oss2/98/bull0100.pdf.

Although this is the result of the 1998 survey, the overall composition of
financial holdings hasn't changed all that much, as I recall from Maki and
Palumbo's paper on the wealth effect. Roughly 49% of all families had direct
or indirect shareholdings in 1998; the top 20% owned a little more than 80%
of all publicly traded stock.

Christian