Another interesting chart from the folks at CNN/Money shows in graphic detail the changing views about stock ownership by age group, the accompanying report noting how the Generation Y crowd is currently being hit with a double whammy – a recent history of market crashes and a job market that is much worse than for older workers.

What’s amazing about this data is the 35-49 age group where decades of conditioning that your best bet is “stocks for the long run” appears to have produced a nearly unshakable belief system. Even after ten years of dismal returns for equities (with the notable exception of gold stocks), Wall Street and the financial media should give themselves a pat on the back for being so successful in their efforts to convince the public that stocks are still a good bet despite the overwhelming evidence to the contrary.