YIKES. Since 1990, the top 1% of Americans has bought $1.2 trillion of stocks, while the remaining 99% have sold $1 trillion, according to Goldman Sachs. Concentration of household equity ownership among the wealthiest households is also at an all-time high. 
Top 1% of Americans now hold 56% of all equities.
Interestingly, equity ownership by wealthy Americans has historically been pro-cyclical, while for the bottom 90% it’s been countercyclical.
The equity allocations of wealthy Americans is also near a record...
Here are the various allocations.
