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
- 2000 - The Euronext Exchange was created on this date following a merger of the Amsterdam Stock Exchange, Paris Bourse and Brussels Stock Exchange. Source: Euronext
- 1998 - On September 23, 1998, a group of fourteen banks and brokerage firms invested $3.6 billion in Long-Term Capital Management L.P. (LTCM) to prevent the firm’s imminent collapse. The hedge fund, operating on leveraged capital based on mathematical models designed by Nobel laureate finance economists Myron Scholes and Robert C. Merton, had experienced massive losses after Russia devalued its currency and defaulted on its debt in August 1998. Source:Near Failure of Long-Term Capital Management, Federal Reserve History.
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