/biz/ - Business & Finance

40 more minutes to buy in at a discount.

Time is now. Load up on SQQQ and puts

>In the early seventies trading was not a job you went into to make large sums of money. It was a good stable profession like selling insurance or banking. And if trading was boring then the Index department at the Exchange was downright comatose. We all know about indices, give em to your nephew when he turns 16 and then when he's thirty he makes a hundred dollars. Yawn. Indices were losers. That is, until John C. Bogle came on the scene at Vanguard
>You see, John didn't know it yet, but he had already changed trading forever. He had just one simple idea...
>The Exchange Traded Fund. Or public security E.T.F.
>What is that?
>Here's how it works. You've got your average bluechip portfolio, 3% per year. Boring, safe, small pay off. But when you have dozens of them all bundled together... Suddenly the yield goes up and the risk is still low cause it's a bluechip, and what bluechip isn't stable? And because the risk is hedged these securities allow for people with not so perfect strategies to invest. So you're making money, and you're doing a good thing.
>John and his band of foul mouthed stock traders took a sleepy department and made it the most profitable on Wall Street. Pretty soon bonds and savings were almost inconsequential to the big funds. They were doing 50, 100, 200 billion in traded funds and dozens of other closed funds a year. And America barely noticed as its number one indsutry became boring old stock trading. Then one day... almost forty years later... in 2018... It all came crashing down.
>In the end, John Bogle's Exchange Traded Fund mutated into a monstrosity that collapsed the whole world economy. And none ofthe experts or leaders or talking heads had a clue it was coming. I'm guessing most of you still don't really know what happened.