Investor Sentiment Regarding Monuments and Statues
The past few months have seen many statues and monuments get defaced or torn down as a result of protestors, rioting, and racial tensions. Since the start of the riots and protesting, over 50 statues and monuments have been taken down, with more than a dozen that have been forcibly removed by protestors and rioters. Are these actions supported by the majority of Americans, or by a select few? Are there certain circumstances that are more understandable than others to remove monuments?
Investors disagree regarding the removal of statues and monuments that honor confederate war leaders and soldiers. A third of investors agree with the removal, while 44 percent disagree with the removal of these statues and monuments. Investors differ significantly in their opinions regarding this hot-button issue by age. Over half of Millennial investors agree with the removal of these statues and monuments, while over a half of Baby Boomers and nearly two-thirds of WWII investors disagree with removing these monuments and statues.
Those variances in opinion are also found when it comes to the possible renaming of military bases that are named after confederate war leaders. Sixty percent of Millennials agree with renaming of military bases, while less than a third of Baby Boomers agree with the possible renaming. Differences are very noticeable by political party as well, which is to be expected. Three-quarters of Republicans disagree with renaming of military bases, while 60 percent of Democrats support this idea. Independents are slightly more in the middle, with a third agreeing with renaming of military basis and 41 percent disagreeing with that possibility.
One issue that has more support than dissent from all age groups is removing confederate emblems from state flags and symbols. Over half of Millennials support the removal of these emblems, and 47 percent of Gen X and Baby Boomers agree with that. Forty-five percent of WWII investors also agree with the removal of those emblems from state flags and symbols. Only a third of older investors disagree with removing confederate emblems. This agreement towards removing these emblems is visible in various wealth segments as well. Regardless of wealth level, investors lean more towards agreement with this potential action than disagreement.
There is also the issue of those monuments and statues that honor individuals who may have been slave owners. Now these individuals include George Washington and other long-celebrated historical figures. Less than half of Millennials support removing these statues and monuments, and nearly three quarters (71 percent) of WWII investors disagree with these actions. Nearly half of investors disagree with these potential actions by wealth level, with only those investors who have a net worth of $100K-$499K being at 41 percent. Even Democrats express less enthusiasm towards this potential action, with less than half of Democrats agreeing with this action.
Regardless of which side of each of these debates investors fall into, it is clear that the events, riots and demonstrations will have influence on whom investors will vote for in the Presidential election. Only a third of investors feel that these recent events will have no influence on whom they will vote for. Twenty-nine percent of Millennial investors indicate that these events will have significant influence on whom they will vote for.