Welcome to the Bogleheads® wiki, a collaborative undertaking by members of the Bogleheads Community. This wiki is a reference resource for investors. Bogleheads emphasize starting early, living below one's means, regular saving, broad diversification, and sticking to one's investment plan.
If all this seems a bit overwhelming, relax and don't panic. A good place to begin is getting started
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Understanding and avoiding behavioral pitfalls will ultimately have a greater impact on investing success than any other factor. Since emotions and subsequent behavioral pitfalls are frequently associated with miscalculating risk tolerance and asset allocation, the new investor should be aware of behavioral pitfalls before making asset allocation decisions.
“Your investing brain does not just add and multiply and estimate and evaluate,” says Jason Zweig in his book, Your Money and Your Brain. “When you win, lose, or risk money, you stir up some of the most profound emotions a human being can ever feel.” (more...)
This week in financial history
- 1991 - The Warsaw Stock Exchange held its first trading session with five listed companies, all of which were formerly State-owned companies that had been privatized. Source: Warsaw Stock Exchange - History
- 1930 - The stock market hit its post-Crash high, as the Dow Jones Industrial Average closed at 294.07, a 48% increase in the five months since the Crash bottomed on November 13, 1929. Over the coming two years, however, the Dow will lose another 85.99% of its value, bottoming at 41.22 on July 8, 1932. Source: Barrie A. Wigmore, The Crash and Its Aftermath: A History of Securities Markets in the United States, 1929-1933 (Greenwood Press, Westport, CT, and London, 1985), p. 137.
- 1991 - The Dow Jones Industrial Average topped 3000 points for the first time. Source: Closing milestones of the Dow Jones Industrial Average
- 2000 - The NASDAQ (National Association of Securities Dealers Automated Quotations) rose 254.41 points, the highest single day point gain to date, just 4 days after it's largest single day loss of 355.49 points (April 14, 2000). Source: NASDAQ Composite Index Increases, Decreases
- 1776 - The US Congress appointed a Committee "to examine and ascertain the value of the several species of gold and silver coins and the proportions they ought to bear to the Spanish milled dollar." Source: Timeline of the United States Mint
- 1895 - The Railroad Gazette made the first public notice of the Herman Hollerith tabulating machine used for the 1890 census. Hollerith's great breakthrough was his use of electricity to read, count, and sort punched cards whose holes represented data gathered by the census-takers. His machines accomplished in one year what would have taken nearly ten years of hand tabulating. Hollerith's company later developed into the International Business Machines Corporation, known as IBM. Source: American Treasuries of the Library of Congress
- 1933 - The gold standard, which directly linked the American dollar to its worth in gold, was abandoned on this day during the Great Depression. Source: This Day in Economic history.
- 2007 - The Wilshire 5000 Index closed above 15,000 for the first time in history. Source: Wilshire 5000
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