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Trillions by Robin Wigglesworth - Top 10 Takeaways Thumbnail

Trillions by Robin Wigglesworth - Top 10 Takeaways

Welcome to Efficient Markets

On today's episode, I summarize my top 10 lessons from the book "Trillions" by Robin Wigglesworth

Here is a brief summary of the takeaways I took from the book:

1.  The idea of coming up with a central data repository for historical stock prices was actually a marketing strategy by Merrill Lynch

2. This work led to academics beginning to realize that active management doesn't work as well as just owning a broad basket of stocks and keeping expenses low

3.  Samsonite (suitcase company) owned the first index fund

4.  Indexing was very hard to sell to pension funds, and it took a while to get off the ground

5.  Even early, index fund skeptics were casting "FUD" on them

6.  The first retail index fund was a total flop

7.  The turning point for index funds occurred in the mid-1980's

8.  Small cap Index investing was born in the early 1980's 

9.  Timing and luck play a huge role in business success

10.  ETF's poured gasoline on the Indexing / Systematic Investing Fire

Here are some other resources mentioned in the podcast:

Rational Reminder Podcast

Snowball by Alice Schroeder

Poor Charlie's Almanac by Peter Kaufman