Day by Day

Thursday, May 15, 2008

Got an email

That refers to my post about the oil companies and what their responsibilities are. The emailer states that "more than 40 percent of oil and natural gas company shares are owned by mutual funds, 401(k) plans and pension funds".

Well, take a gander at this page, especially the handy-dandy chart they've got.

Mutual Funds and other firms: 29.5%
Pension Funds: 27%
IRA's: 14%
Private Investors (i..e people who bought stock on their own): 23%

Lessee, if I did my math right, that's 93.5%, correct? The other 6.5% is owned by other institutional investers and corporate insiders. So, if the gummint decides that it's going to tax the hell out of the oil companies, just who do you think will get hurt the most?

Got any mutual funds of your own?

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