Who Owns U.S. Stocks?

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The U.S. stock market made headlines in 2020. Its performance under pandemic conditions took many market participants by surprise. 
New players joined the market. A new generation of investors suddenly has access to cheap commissions as the brokerage industry in the United States changed dramatically. Nowadays, you do not need to own a full share of a stock, as the broker allows you to own only a fraction of it.
Moreover, robo-advisory services automate the…

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