Swater wrote:
] ] The democratization of ownership
] ] supposedly brought about by mutual funds has a long way
] ] to go.

At least they are forthright about the way they are manipulating the data, but this conclusion clearly doesn't follow. They aren't including IRAs. Most people own stock in the context of a retirement fund, so you obviously can't make conclusions about this without looking at retirement fund information. If the difference is minor, which is what they claim, then why not include it? I don't see how it would detract from their point. If the difference isn't minor, then maybe the data shows that people are saving more, rather then showing that wealth is becoming more concentrated.

I'd guess that the answer might be both, but these guys obviously have an interest in backing a particular conclusion.