In The Past 30 Years, The "Top 1%" Has Bought $1.2 Trillion In Stocks; The "Bottom 99%" Has Sold $1 Trillion
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In The Past 30 Years, The "Top 1%" Has Bought $1.2 Trillion In Stocks; The "Bottom 99%" Has Sold $1 Trillion

For years, the market had been stumped by what in 2019 we dubbed a "great conundrum" - namely, how was it possible that equity funds were liquidating stocks at a furious pace, with outflows hitting a post-crisis high last year, and yet stock prices not only kept hitting daily all time highs but unleashed a furious meltup in September which has lasted to this day?

Some...

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