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Robin Wigglesworth
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TRILLIONS - HOW A BAND OF WALL STREET RENEGADES INVENTED THE INDEX FUND AND
Robin Wigglesworth
- Portfolio
- 12 Octobre 2021
- 9780593421314
B>b>From the/b>b> Financial Times''s /b>b>global finance correspondent, the incredible true story of the iconoclastic geeks who defied conventional wisdom and endured Wall Street''s scorn to launch the index fund revolution, democratizing investing and saving hundreds of billions of dollars in fees that would have otherwise lined fat cats'' pockets./b>/b>br>br>Fifty years ago, the Manhattan Project of money management was quietly assembled in the financial industry''s backwaters, unified by the heretical idea that even many of the world''s finest investors couldn''t beat the market in the long run. br> br>The motley crew of nerds--including economist wunderkind Gene Fama, humiliated industry executive Jack Bogle, bull-headed and computer-obsessive John McQuown, and avuncular former WWII submariner Nate Most--succeeded beyond their wildest dreams. Passive investing now accounts for more than $20 trillion, equal to the entire gross domestic product of the US, and is today a force reshaping markets, finance and even capitalism itself in myriad subtle but pivotal ways. br> br>Yet even some fans of index funds and ETFs are growing perturbed that their swelling heft is destabilizing markets, wrecking the investment industry and leading to an unwelcome concentration of power in fewer and fewer hands. br> br>In Trillions, Financial Times journalist Robin Wigglesworth unveils the vivid secret history of an invention Wall Street wishes was never created, bringing to life the characters behind its birth, growth, and evolution into a world-conquering phenomenon. This engrossing narrative is essential reading for anyone who wants to understand modern finance--and one of the most pressing financial uncertainties of our time.
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TRILLIONS (HOW A BAND OF WALL STREET RENEGADES INVENTED THE INDEX FUND AND CHANG
WIGGLESWORTH, ROBIN
- PENGUIN BOOKS UK
- 9 Mars 2023
- 9780241987971
Best books of 2021, Financial Timesbr>br>''Grab some popcorn and take a front row seat, because Robin Wigglesworth has an astonishing story to tell you'' Tim Harford, author of How to Make the World Add Upbr>br>''A fascinating account of an investment revolution'' Ian Fraser, Literary Reviewbr>br>''A magisterial, delightfully written history offering up portraits of the academic scribblers and entrepreneurial practitioners who created the index-fund revolution'' The Wall Street Journalbr>br>''Wigglesworth has written an important book'' Patrick Hosking, Financial Editor, The Timesbr>br>''A terrific read'' Gregory Zuckerman, author of The Man Who Solved the Marketbr>br>''A fascinating journey and a crucial book for anyone trying to understand the financial markets'' Bradley Hope, author of Billion Dollar Whalebr>br>br>---------------------------------------------------------------------------------------------------------br>br>In Trillions, Financial Times journalist Robin Wigglesworth unveils the vivid secret history of index funds, bringing to life the colourful characters behind their birth, growth and evolution into a world-conquering phenomenon. It is the untold story behind one of the most pressing financial uncertainties of our time.br>br>---------------------------------------------------------------------------------------------------------br>''An easy-to-understand and fun read, full of lively characters and little-known details of how finance really works today'' Gillian Tett, author of Anthro-Vision>
