The most accurate stock-market predictor was released this week. The next 10 years don’t look good.

The most important stock-market-related news of the past three months was released this week, and I bet you didn’t notice.

It was imbedded in a report that the Federal Reserve released Thursday, its quarterly update of the Financial Accounts of the United States. Among that report’s myriad statistics was the average household’s portfolio allocation to equities.


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