传奇投资人士：投资意识要从娃娃抓起
在Ariel Capital公司的创始人小约翰·罗杰斯成为美国的知名投资者和黑人商业界先锋之前，他曾经是一个住在芝加哥南部海德公园（Hyde Park）的小孩。他的父亲此前是塔斯基吉的飞行员，后来转行做了库克郡法官。有一天，一名白人律师和他交谈时问道：“为什么非洲裔美国人不在股市多投点钱呢？在投资方面，你12岁的孩子和我12岁的孩子没有什么区别。”
从那个时候开始，罗杰斯一家在晚餐时的交谈内容发生了改变。罗杰斯在节日收到的是股权证，而不是玩具。他投资了当地的公用设施公司和通用汽车（General Motors），聚精会神地阅读他父亲订阅的股市研究资讯。他们的对话也变成了资产组合、研究和财务指标。最棒的福利在于：罗杰斯能够将股票组合的派息当作自己的零花钱。
罗杰斯也用类似的方法来教育自己的女儿，而且投身于动员更多的黑人家庭通过参与投资来创造财富，并开展一些超级基础的工作：谈论如何投资。
本周，Ariel携手嘉信理财（Charles Schwab）发布了其对美国黑人财务习惯的年度调查。其发现展现了一丝希望，但再次凸显了依然存在的投资不平等现象。调查称：“各组人群在投资参与方面存在根深蒂固的差距，参与股市投资的美国黑人和白人比例分别为55%和71%。这种不平等在经过时间的发酵后就会变成：中产阶级美国黑人在退休时的储蓄金比白人更少，而且可以留给子孙后代的财富也比白人更少。”
确实，在嘉信理财和Ariel调查覆盖的20年中，2020年黑人投资者的股市整体参与率最低。然而，这里也有一些令人鼓舞的迹象，涉及较年轻的黑人投资者。在40岁以下的受调对象中，有63%如今投资了股市，与同年龄段白人相当。报告显示，“较年轻投资者差距的缩小受益于新投资者，因为2020年首次投资股市的黑人投资者是白人的三倍（15%对比5%）”。
说到各类401(k)计划，仅有超过半数的黑人和白人受调对象投资了其中一种。然而，“白人401(K)计划参与者每个月在其退休账户的投资额要比黑人参与者高出26%（291美元对比231美元）。”这主要归咎于美国司空见惯的种族工资差距所带来的涓滴效应。
在一篇新闻稿中，Ariel的联席首席执行官兼总裁麦乐迪·霍布森称：“这些差异并非是什么新现象。说到积累财富，美国黑人从一开始就处于劣势。”他指出，23%的美国黑人称他们继承了财富遗产，而这个比例在美国白人中是51%。这一现象属于歧视性做法的遗留问题，它涉及房屋、借贷和薪酬，其中很多在当前依然屡见不鲜。我在《财富》杂志的同事麦肯纳·摩尔最近与《纽约时报》（New York Times）的艾米丽·福利特进行了交谈，后者正在撰写一本讲述金融歧视的书。
对凯利·施瓦布-珀梅兰茨（他的父亲查尔斯·施瓦布创建了同名公司）来说，该调查揭示了金融公司该如何与黑人群体建立信任以及鼓励其提升金融素养，以及金融公司在这一方面必须要做的工作。当问及金融服务提供商是否“可信”时，“超过70%的白人和黑人受调对象称他们是可信的。然而，仅有35%的黑人投资者觉得自己在与金融机构打交道时受到了尊重，而有此感受的白人投资者为62%。”她说：“有些人感觉自己并未得到金融机构的重视，作为一个行业，我们不得不与这些人建立更多的信任。”
Ariel与嘉信理财长期以来一直致力于投资那些鼓励提升年轻人金融素养的项目，施瓦布-珀梅兰茨认为此举或将成为我们社会“绝佳的均衡器”。罗杰斯对有一项数据感到由衷的高兴：虽然只有10%的美国黑人称自己会谈论股市的上扬，但当前的比例已经升至37%。他希望更多的父母能够向其孩子讲述这个道理：尽管玩具的开箱会让孩子感到愉悦，但股息会源源不断地产生。（财富中文网）
译者：冯丰
审校：夏林
在Ariel Capital公司的创始人小约翰·罗杰斯成为美国的知名投资者和黑人商业界先锋之前，他曾经是一个住在芝加哥南部海德公园（Hyde Park）的小孩。他的父亲此前是塔斯基吉的飞行员，后来转行做了库克郡法官。有一天，一名白人律师和他交谈时问道：“为什么非洲裔美国人不在股市多投点钱呢？在投资方面，你12岁的孩子和我12岁的孩子没有什么区别。”
从那个时候开始，罗杰斯一家在晚餐时的交谈内容发生了改变。罗杰斯在节日收到的是股权证，而不是玩具。他投资了当地的公用设施公司和通用汽车（General Motors），聚精会神地阅读他父亲订阅的股市研究资讯。他们的对话也变成了资产组合、研究和财务指标。最棒的福利在于：罗杰斯能够将股票组合的派息当作自己的零花钱。
罗杰斯也用类似的方法来教育自己的女儿，而且投身于动员更多的黑人家庭通过参与投资来创造财富，并开展一些超级基础的工作：谈论如何投资。
本周，Ariel携手嘉信理财（Charles Schwab）发布了其对美国黑人财务习惯的年度调查。其发现展现了一丝希望，但再次凸显了依然存在的投资不平等现象。调查称：“各组人群在投资参与方面存在根深蒂固的差距，参与股市投资的美国黑人和白人比例分别为55%和71%。这种不平等在经过时间的发酵后就会变成：中产阶级美国黑人在退休时的储蓄金比白人更少，而且可以留给子孙后代的财富也比白人更少。”
确实，在嘉信理财和Ariel调查覆盖的20年中，2020年黑人投资者的股市整体参与率最低。然而，这里也有一些令人鼓舞的迹象，涉及较年轻的黑人投资者。在40岁以下的受调对象中，有63%如今投资了股市，与同年龄段白人相当。报告显示，“较年轻投资者差距的缩小受益于新投资者，因为2020年首次投资股市的黑人投资者是白人的三倍（15%对比5%）”。
说到各类401(k)计划，仅有超过半数的黑人和白人受调对象投资了其中一种。然而，“白人401(K)计划参与者每个月在其退休账户的投资额要比黑人参与者高出26%（291美元对比231美元）。”这主要归咎于美国司空见惯的种族工资差距所带来的涓滴效应。
在一篇新闻稿中，Ariel的联席首席执行官兼总裁麦乐迪·霍布森称：“这些差异并非是什么新现象。说到积累财富，美国黑人从一开始就处于劣势。”他指出，23%的美国黑人称他们继承了财富遗产，而这个比例在美国白人中是51%。这一现象属于歧视性做法的遗留问题，它涉及房屋、借贷和薪酬，其中很多在当前依然屡见不鲜。我在《财富》杂志的同事麦肯纳·摩尔最近与《纽约时报》（New York Times）的艾米丽·福利特进行了交谈，后者正在撰写一本讲述金融歧视的书。
对凯利·施瓦布-珀梅兰茨（他的父亲查尔斯·施瓦布创建了同名公司）来说，该调查揭示了金融公司该如何与黑人群体建立信任以及鼓励其提升金融素养，以及金融公司在这一方面必须要做的工作。当问及金融服务提供商是否“可信”时，“超过70%的白人和黑人受调对象称他们是可信的。然而，仅有35%的黑人投资者觉得自己在与金融机构打交道时受到了尊重，而有此感受的白人投资者为62%。”她说：“有些人感觉自己并未得到金融机构的重视，作为一个行业，我们不得不与这些人建立更多的信任。”
Ariel与嘉信理财长期以来一直致力于投资那些鼓励提升年轻人金融素养的项目，施瓦布-珀梅兰茨认为此举或将成为我们社会“绝佳的均衡器”。罗杰斯对有一项数据感到由衷的高兴：虽然只有10%的美国黑人称自己会谈论股市的上扬，但当前的比例已经升至37%。他希望更多的父母能够向其孩子讲述这个道理：尽管玩具的开箱会让孩子感到愉悦，但股息会源源不断地产生。（财富中文网）
译者：冯丰
审校：夏林
Before John W. Rogers Jr., the founder of Ariel Capital, was one of country's preeminent investors and a pioneer in the Black business community, he was a preteen living in Hyde Park, on the South Side of Chicago. His dad, a former Tuskegee Airman turned Cook County judge, one day got into a conversation with a white lawyer. "Why doesn't the African American community invest more in the stock market?" the lawyer wanted to know. "Your 12-year-old should know as much about investing as my 12-year-old."
From that moment, the conversations around Rogers' dinner table changed. Instead of toys, Rogers received stock certificates at holidays. He invested in the local utility company and General Motors, poring over the research newsletters his dad subscribed to. Their conversations veered toward portfolios and research and financial metrics. The best part: Rogers got to keep the dividends from his stock portfolio as spending money.
Rogers took a similar path with his own daughter and is on a mission to get more Black families involved in creating wealth through investing, as well as doing something far more basic: talking.
This week Ariel, in partnership with Schwab, released their annual survey of the financial habits of Black Americans. The findings, while showing glimmers of hope, reinforce how much of an investing disparity remains. "The deep-rooted gap in participation between the groups persists, with 55% of Black Americans and 71% of white Americans reporting stock market investments. This disparity, compounded over time, means that middle-class Black Americans will have less money saved for retirement and less wealth to pass on to the next generation than their white peers," according to the survey.
Indeed, in 2020 Black investors reported their lowest overall participation rate in the stock market in the 20 years that Schwab and Ariel have been conducting this research. There were encouraging signs, however, among younger Black investors. Sixty-three percent of respondents under the age of 40 now are participating in the stock market, equal to their white counterparts. "The closing of this gap among younger investors is being driven by new investors," the report shows, as "three times as many Black investors as white investors (15% vs. 5%) report having invested in the market for the first time in 2020."
When it comes to 401(k) plans, just over half of Black and white survey respondents invest through one, but "white 401(k) plan participants invest 26% more per month toward their retirement accounts than Black 401(k) plan participants ($291 vs. $231)." This is one more trickle-down effect of the well-documented racial pay gap.
In a release, Ariel's co-CEO and president Mellody Hobson added, "These differences are not new. Black Americans are disadvantaged from the outset when it comes to building wealth," noting that 23% of Black Americans say they have inherited wealth versus 51% of white Americans. This stems from a legacy of discriminatory practices when it comes to housing, lending, and pay, many of which persist to this day. My colleague at Fortune, McKenna Moore, recently talked to Emily Flitter of the New York Times, who is working on a book about financial discrimination.
For Carrie Schwab-Pomerantz, whose father, Charles Schwab, founded the namesake firm, the survey underscores how much work financial firms must do to build trust with the Black community and encourage financial literacy. When asked whether financial service providers were "trustworthy," more than 70% of white and Black respondents said they were. But only 35% of Black investors feel they are treated with respect by financial institutions, versus 62% of white investors. "We as an industry have to build more trust with people who have not felt welcomed by financial institutions," she says.
Both Ariel and Schwab have long invested in programs that encourage financial literacy among young people, something Schwab-Pomerantz believes that could be a "great equalizer" in our society. And Rogers is cheered by one statistic: While only 10% of Black Americans report talking about the stock market growing up, 37% do so now. It's a lesson he hopes more parents will impart to their kids: Toys may be fun to unwrap, but dividends keep on giving.
