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Index Fund
An index fund (also index tracker) is a mutual fund or exchange-traded fund (ETF) designed to follow certain preset rules so that the fund can a specified basket of underlying investments.Reasonable Investor(s), Boston University Law Review, available at: https://ssrn.com/abstract=2579510 While index providers often emphasize that they are for-profit organizations, index providers have the ability to act as "reluctant regulators" when determining which companies are suitable for an index. Those rules may include tracking prominent indexes like the S&P 500 or the Dow Jones Industrial Average or implementation rules, such as tax-management, tracking error minimization, large block trading or patient/flexible trading strategies that allow for greater tracking error but lower market impact costs. Index funds may also have rules that screen for social and sustainable criteria. An index fund's rules of construction clearly identify the type of companies suitable for the fund. The most c ...
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Mutual Fund
A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV in Europe ('investment company with variable capital') and open-ended investment company (OEIC) in the UK. Mutual funds are often classified by their principal investments: money market funds, bond or fixed income funds, stock or equity funds, or hybrid funds. Funds may also be categorized as index funds, which are passively managed funds that track the performance of an index, such as a stock market index or bond market index, or actively managed funds, which seek to outperform stock market indices but generally charge higher fees. Primary structures of mutual funds are open-end funds, closed-end funds, unit investment trusts. Open-end funds are purchased from or sold to the issuer at the net asset value of each share as of the close ...
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Fortune (magazine)
''Fortune'' is an American multinational corporation, multinational business magazine headquartered in New York City. It is published by Fortune Media Group Holdings, owned by Thai businessman Chatchaval Jiaravanon. The publication was founded by Henry Luce in 1929. The magazine competes with ''Forbes'' and ''Bloomberg Businessweek'' in the national business magazine category and distinguishes itself with long, in-depth feature articles. The magazine regularly publishes ranked lists, including the Fortune 500, ''Fortune'' 500, a ranking of companies by revenue that it has published annually since 1955. The magazine is also known for its annual ''Fortune Investor's Guide''. History ''Fortune'' was founded by ''Time (magazine), Time'' magazine co-founder Henry Luce in 1929 as "the Ideal Super-Class Magazine", a "distinguished and de luxe" publication "vividly portraying, interpreting and recording the Industrial Civilization". Briton Hadden, Luce's business partner, was not enthu ...
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Dimensional Fund Advisors
Dimensional Fund Advisors, L.P. (branded Dimensional abbreviated DFA) is a private investment firm headquartered in Austin, Texas. Dimensional was founded in Chicago in 1981 by David Booth, Rex Sinquefield and Larry Klotz. The company has affiliates within 13 offices in the U.S., Canada, U.K., Germany, Netherlands, Australia, Singapore, and Japan. Dimensional maintains U.S. offices in Charlotte, North Carolina and Santa Monica, California and has affiliate offices globally. The company is owned by its employees, board members and outside investors. The company’s founders studied at the University of Chicago under Eugene Fama and Kenneth French. DFA's investment strategy is based on application of the efficient market hypothesis. Dimensional was one of the earliest firms to offer passive investing and "runs the oldest small-cap index fund" in the United States. However, DFA's versions of index funds skew towards smaller company stocks and value stocks, and thus operate different ...
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Jeremy Grantham
Robert Jeremy Goltho Grantham (born 6 October 1938) is a British investor and co-founder and chief investment strategist of Grantham, Mayo, & van Otterloo (GMO), a Boston-based asset management firm. GMO had more than US$118 billion in assets under management as of March 2015. GMO has seen this number halve to US$65 billion in assets under management as of Dec 2020. He has been a vocal critic of various governmental responses to the Global Financial Crisis from 2007 to 2010. Grantham started one of the world's first index funds in the early 1970s. In 2011 he was included in the 50 Most Influential ranking of ''Bloomberg Markets'' magazine. Early life Grantham was born in Ware, Hertfordshire and grew up in Doncaster. He studied Economics at the University of Sheffield. In 1966, he completed an MBA at Harvard Business School. Investment philosophy Grantham's investment philosophy can be summarised by his commonly used phrase "reversion to the mean." Essentially, ...
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Illinois Bell
Illinois Bell Telephone Company, LLC is the Bell Operating Company serving Illinois. It is owned by AT&T through AT&T Teleholdings, formerly Ameritech. Their headquarters are at 225 West Randolph St., Chicago, IL. After the 1984 Bell System Divestiture, Illinois Bell became a part of Ameritech, one of the 7 original Regional Bell Operating Companies. The Illinois Bell name continued to be used until January 1993, when Ameritech dropped all of their individual Bell Operating Company names in favor of using their corporate name, Ameritech, for marketing purposes. Illinois Bell started doing business as Ameritech Illinois. Illinois Bell, in 1971, became the first ever telephone company to offer Call waiting, Three-way calling, Speed Calling, and Call forwarding, all popular local exchange carrier telephone service options to this day. In 1997, Illinois Bell acquired lines in the Chicago metro area from Central Telephone Company of Illinois, a Sprint company. In 1998, Ameritech ...
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American National Bank
First American National Bank was a subsidiary of First American Corporation, a financial institution based in Nashville, Tennessee, that served the states of Tennessee, Kentucky, Georgia and Virginia. It was headquartered in the First American Center in downtown Nashville. The bank began, in Nashville, as the American National Bank and later (1930), merged with James E. Caldwell's Fourth and First National Bank, to become First American National Bank. In 1971, construction of the First American Center (now the UBS Tower) in downtown Nashville resulted in the discovery of the skeleton of a sabertooth cat (''Smilodon floridanus'') within a cave beneath the bedrock. First American National Bank facilitated archaeological excavations at the site, funded radiocarbon analysis of the bone, and altered their original building design to protect the remnants of the cave, which still exist beneath the lower level of the building's parking garage. The cave is known variously as the "Firs ...
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Rex Sinquefield
Rex Andrew Sinquefield (; born September 7, 1944) is an American businessman, investor, and philanthropist who has been called an "index-fund pioneer" for creating the first passively managed index fund open to the general public Sinquefield was also a co-founder of Dimensional Fund Advisors. He is active in Missouri politics; his two main interests being rolling back the income tax and increasing public funding for charter schools. Early life and education He had 18 cleft palate operations before age five. His father died when he was five years old. Because of the family's poverty, Sinquefield and his brother were placed in a local Catholic orphanage, the Saint Vincent Home for Children in St. Louis, Missouri.Rex Sinquefield biography.
Retrieved October 29, 2013.
The school was run by strict Ger ...
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Wells Fargo
Wells Fargo & Company is an American multinational financial services company with corporate headquarters in San Francisco, California; operational headquarters in Manhattan; and managerial offices throughout the United States and internationally. The company has operations in 35 countries with over 70 million customers globally. It is considered a systemically important financial institution by the Financial Stability Board. The firm's primary subsidiary is Wells Fargo Bank, N.A., a national bank which designates its Sioux Falls, South Dakota site as its main office. It is the fourth largest bank in the United States by total assets and is also one of the largest as ranked by bank deposits and market capitalization. Along with JPMorgan Chase, Bank of America and Citigroup. Wells Fargo is one of the "Big Four Banks" of the United States. It has 8,050 branches and 13,000 ATMs. It is one of the most valuable bank brands. Wells Fargo, in its present form, is a result of a ...
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David G
David (; , "beloved one") (traditional spelling), , ''Dāwūd''; grc-koi, Δαυΐδ, Dauíd; la, Davidus, David; gez , ዳዊት, ''Dawit''; xcl, Դաւիթ, ''Dawitʿ''; cu, Давíдъ, ''Davidŭ''; possibly meaning "beloved one". was, according to the Hebrew Bible, the third king of the United Kingdom of Israel. In the Books of Samuel, he is described as a young shepherd and harpist who gains fame by slaying Goliath, a champion of the Philistines, in southern Canaan. David becomes a favourite of Saul, the first king of Israel; he also forges a notably close friendship with Jonathan, a son of Saul. However, under the paranoia that David is seeking to usurp the throne, Saul attempts to kill David, forcing the latter to go into hiding and effectively operate as a fugitive for several years. After Saul and Jonathan are both killed in battle against the Philistines, a 30-year-old David is anointed king over all of Israel and Judah. Following his rise to power, David ...
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Magellan Fund
The Fidelity Magellan Fund () is a U.S.-domiciled mutual fund from the Fidelity family of funds. It is perhaps the world's best-known actively managed mutual fund, known particularly for its record-setting growth under the management of Peter Lynch from 1977 to 1990. On January 14, 2008, Fidelity announced that the fund would open to new investors for the first time in over a decade. By the end of the 20th century the Magellan Fund had well over $100 billion in assets under management. For quite some time it was the single largest mutual fund in the world until April 2000, when it was displaced by Vanguard's S&P 500 index fund. Overview Fidelity earns its income, like most companies managing mutual funds, from fees charged on its funds' assets under management (AUM). From the fund's inception in 1963 through 1977 Magellan grew to $20 million in AUM. The $20 million fund Peter Lynch inherited grew to $14 billion in AUM during his tenure. During Morris Smith's tenure, AUM grew fr ...
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S&P 500
The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the stock performance of 500 large companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices. As of December 31, 2020, more than $5.4 trillion was invested in assets tied to the performance of the index. The S&P 500 index is a free-float weighted/capitalization-weighted index. As of August 31, 2022, the nine largest companies on the list of S&P 500 companies accounted for 27.8% of the market capitalization of the index and were, in order of highest to lowest weighting: Apple, Microsoft, Alphabet (including both class A & C shares), Amazon.com, Tesla, Berkshire Hathaway, UnitedHealth Group, Johnson & Johnson and ExxonMobil. The components that have increased their dividends in 25 consecutive years are known as the S&P 500 Dividend Aristocrats. The index is one of the factors in computation of the Conference Board Leading Economic Index ...
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McGraw-Hill
McGraw Hill is an American educational publishing company and one of the "big three" educational publishers that publishes educational content, software, and services for pre-K through postgraduate education. The company also publishes reference and trade publications for the medical, business, and engineering professions. McGraw Hill operates in 28 countries, has about 4,000 employees globally, and offers products and services to about 140 countries in about 60 languages. Formerly a division of The McGraw Hill Companies (later renamed McGraw Hill Financial, now S&P Global), McGraw Hill Education was divested and acquired by Apollo Global Management in March 2013 for $2.4 billion in cash. McGraw Hill was sold in 2021 to Platinum Equity for $4.5 billion. Corporate History McGraw Hill was founded in 1888 when James H. McGraw, co-founder of the company, purchased the ''American Journal of Railway Appliances''. He continued to add further publications, eventually establishing The ...
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