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
- 1688 - The earliest known book on the stock market, Joseph Penso de la Vega's Confusion de Confusiones (Confusion of Confusions), appeared when Vega signed a dedication to his dialogues about the Amsterdam stock exchange on May 24, 1688. Source: Joseph de la Vega, Confusion de Confusiones (Baker Library, Harvard Graduate School of Business Administration, Cambridge, MA, 1957), pp. xi, 22. available at google digitized
- 1933 - The United States Congress enacted the Securities Act of 1933. The act required that new security offerings be registered with the Securities and Exchange Commission (SEC), and that prospective investors must be provided with a prospectus. Source: Securities Act of 1933
- 2015 - The NASDAQ Composite Index passed the 5100 milestone for the first time in history when it closed at 5106.59. Reaching the 5100 milestone was a long climb back from the 2000 - 2003 dot.com bubble collapse. The NASDAQ Composite breached the 5000 milestone on March 9, 2000. Source: NASDAQ Composite (COMP)
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