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Trillions

How a Band of Wall Street Renegades Invented the Index Fund and Changed Finance Forever
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Description

The explosive growth of index funds has revolutionised markets around the globe but how far can they go? Index funds are the most widely influential investment vehicles available. They have revolutionised investing by saving millions of people billions of dollars in fees that would otherwise have gone to fund managers. It is no exaggeration to say that the rise of passive investing is probably one of the most consequential financial inventions of the past half-century, by rewiring markets and reshaping the finance industry. Yet some detractors say that index investing is an insidious disease and, with their rapid expansion and grip on the financial market, index funds may have cataclysmic consequences that we aren't even aware of yet. What might the socio-economic risks of wide-spread passive investing be? What are the longer-term consequences to capitalism? And what does the future look like for the investment landscape? Through exclusive interviews with key industry giants, Robin Wigglesworth, the Financial Times' New York-based markets editor, reveals the thrilling and untold history of the revolutionists behind the invention of index funds and investigates one of the most pressing financial uncertainties of our time.

Author Biography:

Robin Wigglesworth is the Financial Times' global finance corrospondent based in Oslo, Norway. He focuses on the biggest trends reshaping markets, investing and finance across the world. He was previously the FT's US markets editor, spearheading its coverage of financial markets and asset management across the Americas, deputy head of FastFT, capital markets correspondent, and Gulf correspondent. Before joining the FT, he worked at Bloomberg News covering Nordic economics and politics.
Release date Australia
October 14th, 2021
Audiences
  • General (US: Trade)
  • Professional & Vocational
  • Tertiary Education (US: College)
Country of Publication
United Kingdom
Imprint
Penguin Business
Pages
352
Publisher
Penguin Books Ltd
Dimensions
162x240x33
ISBN-13
9780241422052
Product ID
33970594

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