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Vanguard Steps Up To The Plate

机译:先锋步步高升

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摘要

John bogle, founder of the Vanguard Group and one of the 20th century's great innovators in finance, made a colossal mistake 17 years ago. He sent Nathan Most packing. Most, then a 77-year-old product developer for the American Stock Exchange, had an innovative idea of his own: the exchange-traded index fund. Investors would have shares in a fixed portfolio, just like the one held by the Vanguard S&P 500 fund, but would trade these shares as if they were Microsoft stock. They could buy and sell the index fund all day long, they could sell the fund short, and they could borrow against the position. Shares of the tradable index fund would be created or extinguished in response to market demand.
机译:先锋集团的创始人约翰·博格尔(John bogle)是20世纪金融领域的伟大创新者之一,在17年前犯了一个巨大的错误。他派Nathan Most打包。大多数人当时是美国证券交易所的一名77岁的产品开发人员,他有自己的创新想法:交易所交易指数基金。投资者将拥有固定投资组合中的股票,就像Vanguard S&P 500基金所持有的那样,但将这些股票当作Microsoft股票进行交易。他们可以全天买卖指数基金,可以卖空该基金,并可以从该头寸中借钱。交易性指数基金的股票将根据市场需求而创建或关闭。

著录项

  • 来源
    《Forbes》 |2008年第2期|p.84-86|共3页
  • 作者

    Michael Maiello;

  • 作者单位
  • 收录信息 美国《科学引文索引》(SCI);
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类 世界经济问题;
  • 关键词

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