The Economist just published a study. 70+ year olds now own 39% of the entire US stock market. These are the same people who spent four decades in bonds, index funds and treasury bills.
Jay Gurley, 77, studies mathematics at George Mason University. He holds 92% of his portfolio in equities. "I can take on some risk without worrying about having to panhandle."
"Turns out — the oldest money is the most degen money."
They don't know what a meme coin is. They just buy the dip. They don't know what CT is. They just never sell. They have been through 1987, dot-com, 2008. Nothing scares them.
One 90-year-old reportedly purchased Nvidia from a hospice bed. Portfolio of $20 million. She was not concerned about the risk.