I laugh so loud :-)
“Despite the fact that almost half of all households owned stock shares either directly or indirectly through mutual funds, trusts, or various pension accounts, the richest 10% of households controlled 84% of the total value of these stocks in 2016" Edward N. Wolff writes.
I don't think it is the households controlling the total value of the stock. It's the reverse.
You mean it is secret organization of intelligent stocks that loves rich people more so go to them?
Stock Buyback Announcements swelled to a record $436.6 Billion in the second quarter, smashing the previous record of $242.1 billion set just one quarter earlier, in Q1. Combined, this brings the first half total at a ridiculous $680 billion, or just $160 billion less than JPM's full year forecast. Annualized, this number amounts to $1.35 trillion, an absolutely staggering number.
Putting the Q2 number in context, TrimTabs writes that "the amount of money committed to buybacks last quarter could fund 6.8 million $1,000 bonus checks to workers every single trading day."
If you factor in the costs on the environment then they are not just ripping us off, they are royally screwing the whole of humanity.
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