‘Hells Angel Days’ of 1 Percent Below Average in S&P 500
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The original “1 percenters” in the U.S. were not a bunch of Gucci-wearing, Tesla-driving, yacht-racing bon vivants who spent six figures at the local mall.
Rather, as ConvergEx Group LLC strategist Nicholas Colas points out in a research note today, they were a scruffier group: Hells Angels and other biker groups, who embraced the label after the American Motorcyclist Association said in the gangs’ early days that only 1 percent of riders were troublemakers.