Topic: How To Invest

What is Pat’s commentary for the week of January 18, 2022

Article Excerpt

Here’s the text of my latest letter to our Portfolio Management clients, sent in October 2021: “You may be surprised to learn that the percentage of Americans who own stocks has been going down for some time. The Gallup organization carries out an annual Economy and Personal finance survey. Between 2001 and 2008, an average of 62% of Americans said they owned stocks. The average fell to 54% between 2009 and 2017. Gallup thinks the drop is due to the 2008-2009 bear market and its 55% plunge in stock prices. We think stock ownership also fell because the financial industry now provides more alternative investments and promotes them more aggressively. Lots of investors sold stocks during that market downturn. Many sold because they feared the market would keep falling. Others sold because they were out of work and needed the money. Others worried about political/economic developments—higher taxes, expanding regulation, predictions by government insiders that the economy was headed for years of what it…

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