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.
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Mutual funds are registered investment companies that pool investors capital for the purpose of investing in securities. Mutual funds are managed by professional money managers. They are a primary funding vehicle for the corporate contributory retirement system in the United States. In 2014, a total of 7,923 U.S. mutual funds held over 16 trillion dollars of assets, owned by forty-three percent of American households and an estimated 90.4 million individuals
Mutual funds offer investors the advantage of diversification, professional management, liquidity, and convenience. These advantages are offset by such factors as costs, fund turnover, and the consequences of organizational structure. (more...)
This week in financial history
- 1694 - The Royal Charter was sealed establishing the Bank of England on July 27, 1694. Source:Timeline: Bank of England
- 1866 - The opening of Cyrus W. Field's Atlantic Cable led to inauguration of arbitrage in which brokers profited by price differences between New York and London markets for U.S. shares.(Source)
- 1971 - Wells Fargo launched the worlds first stock-index fund with $6 million from the pension fund of Samsonite Corp. Source:Peter L. Bernstein, Capital Ideas: The Improbable Origins of Modern Wall Street (Free Press, New York, 1992), p. 247.
- 1990 - The Ho Chi Minh City Stock exchange officially starts trading. Source: Ho Chi Minh Stock Exchange (Vietnamese) (Google Translate)
- 1965 - The Social Security Amendments of 1965 was signed into law, establishing Medicaid and Medicare in the United States. Source: Legislative history
- 2002 - The Sarbanes-Oxley Act was signed into law. The Act mandated a number of reforms to enhance corporate responsibility, enhance financial disclosures and combat corporate and accounting fraud, and created the "Public Company Accounting Oversight Board" to oversee the activities of the auditing profession. (Source)
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