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A three-fund portfolio is a portfolio which does not slice and dice, but uses only basic asset classes — usually a domestic stock "total market" index fund, an international stock "total market" index fund and a bond "total market" index fund. It is often recommended for and by Bogleheads attracted by "the majesty of simplicity" (Bogle's phrase), and for those who want finer control and better tax-efficiency than they would get in an all-in-one fund like a target retirement fund.
There is no magic in the number three; the phrase is shorthand for a style of portfolio construction that emphasizes simplicity, and is related to lazy portfolios. (more...)
This week in financial history
- 1868 - The Foreign and Colonial Government Trust published the earliest known mutual fund prospectus in London, England. The fund offered shares at 85 pounds sterling. The fund, now known as Foreign and Colonial Investment Trust, still trades on the London Stock Exchange.
- 1924 - The Massachusetts Investment Trust was organized in Boston as a managed fund offering redeemable securities, thus becoming the first open-ended mutual fund in U.S. Source: Business history: advisors
- 1720 - The South Sea Bill, granting virtual monopoly powers to the South Sea Co., passes in the British House of Commons after six hours of fierce debate, during which the price of South Sea shares fluctuates from 270 to 400.
- 1987 – The Standard & Poors 500 stock index closes above 300 for the first time, less than a year-and-a-half after breaking the 200 barrier. The index finishes the day at 301.16. Source:Closing milestones of the S&P 500 Index
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