Volatility and Race

Doug Henwood dhenwood at panix.com
Tue Mar 20 07:29:08 PST 2001


Daniel Davies wrote:


> Now in its fifth year, the annual survey shows that
>the percentageof Blacks who own stocks or stock mutual
>funds climbed from 57% in 1998 to 64% last year, while
>White stock ownership remained flat atabout 81%.

I assume these percentages refer to the over-$50,000 universe, because otherwise they're thoroughly implausible. The median black household has financial wealth (assets less debts, excluding primary residence and its mortgage) of $1,200, and 27% have zero or negative net worth. The median white household has financial wealth of $37,600, and 15% have zero or negative net worth. For Hispanics, the numbers are $0 and 36%.

Doug



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