Americans who own assets are winning. US household equity holdings are up to a record $74 trillion. Since 2020, this figure has surged +$48 trillion, or +185%. By comparison, US household equity holdings stood at $13 trillion at the start of this century. As a % of GDP, equity ownership is up to a record ~232%, more than tripling since the 2008 Financial Crisis To put this into perspective, this ratio peaked at ~140% during the 2000 Dot-Com Bubble. Own assets or be left behind.(The Kobeissi Letter)