this post was submitted on 30 Nov 2023
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I know it sounds wild, but it's actually true: an obscure financial institution called Cede and Company technically owns 83% of the stock market all by itself. This includes the stock that regular people like you and me think that we own in our brokerage accounts and retirement plans. You don't have to take my word for it. It's not some conspiracy theory I heard on InfoWars. You can look it up right on Wikipedia with citations back to the SEC:
https://en.wikipedia.org/wiki/Cede_and_Company
Even crazier - that 83% number was all the way back in 1998, the final year DTC published an updated number for total market ownership.
Considering their rhetoric never changed my money is on the trendline continuing. I bet they're at 95%+ these days (total conjecture).