On: Michael Lewis: shilling for the buyside?

[drcode]

The median Joe Sixpack has a pension fund, which is the crux of Lewis' argument (I agree it's ridiculous.)

[ryandrake → drcode]

You're right, but BARELY:

http://www.csmonitor.com/Business/2013/0508/Dow-hits-15000-b...

The rate of stock ownership (including through mutual funds and retirement accounts) for Americans is around 52%, down from last year. So, while the median American owns some stock, it's probably a minuscule amount. Two percentage points lower, and the median American (Joe Six Pack) owns no stock.

EDIT for more related info:

45% of Americans have no retirement savings [1]

1/4 of Americans have no savings whatsoever [2]

[1] http://www.twincities.com/ci_23505006/americans-retirement-s...

[2] http://www.ibtimes.com/over-fourth-americans-have-no-money-t...

[drcode → ryandrake]

Interesting- Thanks.