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Stocks as a percentage of household financial assets peaked in 2000 and bottomed in 2008, but...

Stocks as a percentage of household financial assets peaked in 2000 and bottomed in 2008, but never got near as low as about 12% at the start of the early 80's bull run, according to BAML. Where did the money go? Bond funds - the chart of whose cumulative inflows since 1996 looks like the Nikkei prior to 1990.
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