BET.com Staff
- It’s not as if there was a deep pool of African-American stock owners before the sudden downturn and volatility in the market, but the relatively few Black owners are diminishing at an alarming rate, according to a new study.
The unfortunate thing, say observers, is that even though Blacks traditionally trail Whites in stock ownership, the number of African-American stock owners has risen substantially in recent years. For example, they note, the rate of stock ownership by Blacks increased to 34 percent in 2001, up more than 17 percent from 1992. However, between 2001 and 2004, those gains evaporated by 12 percent, according to the study, “The Decrease in Stock Ownership by Minority Households,” which looks at individual stocks and those within a 401(k) and IRA
