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Bogleheads® wiki - Investing Advice Inspired by John Bogle Academics Asset classes Employer provided retirement plans ETFs and mutual funds Financial planning Indexing Investing Non-US domiciles Personal retirement plans Retirement planning Tax considerations Complete list... Academics Asset classes Employer provided retirement plans ETFs and mutual funds Financial planning Indexing Investing Non-US domiciles Personal retirement plans Retirement planning Tax considerations Complete list...

 

Welcome

John Bogle
(1929 - 2019)
Forum postsWelcome 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. Returning visitors may be interested in our new pages.

 

Getting started

• Getting started - Start here.
• Bogleheads® investment philosophy - Our investment principles.
• Bogleheads® investing start-up kit - A top-down approach to start investing.
• Investment policy statement - Identify your investment objectives and how you plan to meet them.
• Bogleheads® personal finance planning start-up kit - Other than investing, such as financial planning, insurance, and saving for college.
• Preparing for retirement - Steps you should take before retiring.
• Prioritizing investments - Choosing where to save your investing money, such as an employer's retirement plan or a savings account.

 

Today's featured article

An index fund is a fund that pools investors capital for the purpose of investing in securities, typically a mutual fund or exchange-traded fund (ETF), that aims to replicate the movements of an index of a specific financial market.

A well-managed index fund provides investors with a simple way to access such advantages as low costs, improved tax efficiency, style consistency and reduced manager risk. Investors should be mindful that not all index funds are low cost and that some indexes can be exploited by active investors when the indexes periodically reconstitute.

The key measure for accessing an index fund's efficiency is how well it tracks its benchmark index. (more...)

 

This week in financial history

June 1:

• 1932 - Benjamin Graham, writing during the nadir of the depression-era bear market in US stocks, published the first of three articles in Forbes, where he pointed out that over one-third of the market's stocks were being valued at less than liquidation value. Source: Forbes Magazine: “Is American Business Worth More Dead than Alive?” by Benjamin Graham (1932), available for download
• 1992 - Eugene Fama and Kenneth French published the paper, The cross‐section of expected stock returns, introducing the Fama/French three-factor model of stock returns. Source: Google scholar

June 2:

• 1997 - On June 2, 1997, the minimum tick size on the NASDAQ stock exchange changed from 1/8 to 1/16 on all stocks with a bid price of $10 or more. The New York Stock Exchange implemented a similar change on June 24, 1997. Source: Spreads, Depths, and Quote Clustering on the NYSE and Nasdaq, available for download.

June 4:

• 1968 - The Standard & Poors 500 index closed over 100 for the first time in history on June 4, 1968. Source: Closing milestones of the S&P 500 Index

June 5:

• 1883 - John Maynard Keynes, the British economist whose studies of unemployment and recession revolutionized 20th-century economics, was born. Source: The New York Times Also see: John Maynard Keynes
• 1933 - US president Franklin D Roosevelt banned gold from being used as a method of payment in private contracts.Source: 5 June 1933: The US dollar is unshackled from gold

June 6:

• 1934 - The Securities and Exchange Commission, the agency primarily responsible for enforcement of United States federal securities law was created by the June 6, 1934 enactment of the Securities Exchange Act of 1934. (Source)

June 7:

• 1995 - The Securities and Exchange Commission (SEC) Rule 15c6-1, which establishes three business days as the standard time period for settling transactions in most securities (T+3) became effective. Source: 95-26 Conversion To T+3 Settlement, Reg. T, And SEC Rule 15c3-3(m)

 

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Our Canadian sister site, Financial Wisdom Forum, and its finiki, the Canadian financial wiki has a similar focus, many like-minded members, and may be of interest as well.

We also have a sister site in Spain, Bogleheads® España (en español).

 

Contributing to the wiki

Anyone can read the wiki. If you would like to edit it, you must first join the Bogleheads forum. Once you've joined, send a private message requesting access, and you can then become an editor. Information on editing the wiki is available on the left sidebar of every wiki page. Suggestions are welcome by posting in Suggestions for the Wiki.

If you see content in need of improvement, or a new page on a topic not yet covered, consider becoming an editor so that you can contribute to the site. If you find yourself writing a reply to a forum question that's been discussed a number of times before, consider creating a wiki page with the answer. Then you and others can reply to subsequent questions on that topic with a link and a quote of your text. That way, the Bogleheads Community both preserves our knowledge base and makes it more accessible, particularly to those using search engines.