US households now hold a record >45% of their financial assets in equities. The highest level ever recorded.

Summary

• The post highlights that US households' allocation to equities as a percentage of their total financial assets has reached a record high of over 45%, citing FRED data.
• The author's thesis is that with US households, foreign investors, and global indices heavily weighted towards US equities, the market may be saturated. This raises the question of who the "next buyer" will be to push prices higher, suggesting a potential market top or increased vulnerability.
• Quality assessment: This is data-driven speculation. The author uses a valid and interesting data point (FRED chart) to support a bearish, contrarian thesis, but the conclusion is an open-ended question rather than a firm prediction.