(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.
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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
- 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.
- 2008 - A 101-day cash management bill (CMB) security was auctioned for $60 billion. This is the highest amount ever offered for a Treasury security in U.S. history. Source: Timeline of U.S. Treasury Bills
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