Stay the course : the story of Vanguard and the index revolution /
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| Format: | Electronic eBook |
| Language: | English |
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Hoboken, New Jersey :
John Wiley & Sons, Inc.,
[2019]
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| Subjects: | |
| Online Access: | Connect to this title online (unlimited simultaneous users allowed; 325 uses per year) |
Table of Contents:
- Intro; Stay the Course; Dedication; Contents; About Stay the Course; What This Book Contains; Striving for Accuracy; Foreword; Part I The Story of Vanguard; Chapter 1 1974: The Prophecy; Structure and Strategy; 2018: The Prophecy Fulfilled; Vanguard: Lowering Costs for Investors; Index Strategy Follows Mutual Structure; "The Emperor's Clothes"; Chapter 2 1945-1965: The Background
- Blair, Princeton, Fortune, and Wellington; 1949: "Big Money in Boston"; "The 'Mutual' Fund"; 1951: "The Economic Role of the Investment Company"; July 1951: Enter Wellington and Walter Morgan
- Modus Operandi 1951: One Fund per ManagerThe Power of Conservative Investing; Staying the Course; Chapter 3 1965-1974: The "Go-Go" Era, the Aftermath, and the Formation of Vanguard; The "Go-Go" Era; Bagels Out, Doughnuts In; "I Was Too Conservative"; Three Strikes . . . but Not Quite Out; The Merger; The "Peace Dollar"; The Bubble Bursts; 1970-1974: Bear Market Follows Bull Market; Fiduciary Duty . . . but to Two Masters?; The Wrong Scapegoat; "Ex-Fund Chief to Come Back"; The Board Meeting That Changed Everything; Achieving Independence; Chuck Root: The Indispensable Man
- Option #2: "Weak Tea""Fired with Enthusiasm!"; The Challenge; Vanguard: The Birth of a New Flagship; A Narrow Escape; The First Skirmish; Game Over?; "A Near-Run Thing"; The Shareholders Approve; A Full-Fledged Mutual Fund Complex Emerges; "A Plague on Both Your Houses?"; Two Memorable
- and Opposite
- Reactions; Staying the Course; Chapter 4 The Index Fund Revolution: From Birth to Dominance; 1951: The Seed Is Planted; Motive and Opportunity; Persuading Vanguard's Directors That Costs Matter; "The Fund Is Not Managed"; First Index Investment Trust; Who Was First? Who Survived?
- More Index FailuresThe IPO; Fortune Strikes . . . Again; Dr. Samuelson Redux; The Road Shows Yield a Flop; "Bogle's Folly"; 280 Stocks, Not 500; "The Stone That the Builders Rejected Has Become the Chief Cornerstone"; Vanguard 500 Index Fund: Real-World Success; Recap: 15,000 Grows to 1,127,704; Caveats; Vindication: Money Talks; Buffett and Swensen; Paul Samuelson Completes a New "Murderer's Row"; Staying the Course; Chapter 5 1974-1981: A New Beginning; The First Step; The Anomaly of Fund Share Distribution; February 1977: Control of Marketing and Distribution
- Struggling with the Index FundThe 500-Index Superiority Fades; The Go-Go Era, the Nifty Fifty Era, and Their Aftermath; Wellington Fund Assets Drop by 75%; 1971: The Money Market Fund; A Late Start; 1977: The Defined-Maturity Municipal Bond Fund; A Simple Innovation; A Curious Anomaly; Vanguard Fixed Income Group Takes Shape; New Fund Profile; 1978-1993: 200-Plus Reductions in Advisory Fees; Only the Beginning; A Wave of Fee Reductions; The Wellington Fund Example; Across-the-Board Fee Reductions; Negotiating Fees on New Vanguard Funds; Index Funds and Bond Funds: Still Lower Costs