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