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
- 1998 - The Toronto Stock Exchange announces closure of its traditional floor trading (open outcry) system to make way for a completely electronic trading environment. Source: Canadian History Timeline
- 1922 - A questionnaire for regular examination of member firms' financial condition was inaugurated by the New York Stock Exchange. (Source)
- 1973 - The Chicago Board Options Exchange opened for trading as 911 contracts were sold on 16 underlying stocks. Source: Business history: Derivatives
- 2002 - William Bernstein's book, The Four Pillars of Investing: Lessons for Building a Winning Portfolio was published on April 26, 2002.
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