Stocks in the household portfolio: a look back at the 1990s

Schneider, Henry; Tracy, Joseph

Journal Article

Stocks in the household portfolio: a look back at the 1990s

Abstract: The growing prominence of stocks as a household asset in the 1990s encouraged the view that the United States had become a nation of zealous investors alert to every market development and eager to acquire new stocks. Yet an analysis of the factors behind the rise in the household equity share suggests that exceptionally high returns on stocks_rather than aggressive investment behavior_accounted for much of the increased importance of stocks.

Keywords: Financial markets; Rate of return;