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Here are the product details for the book "Trillions: How a Band of Wall Street Renegades Invented the Index Fund and Changed Finance Forever" by Robin Wigglesworth:
- ISBN: 9780241422069
- Author: Robin Wigglesworth
- Genre: Economic Theory, Banking, Finance, Investment, Money
- Publication: Penguin
- Pages: 224 pages
- Format: Paperback
- Language: English
About the book:
"Trillions" uncovers the secret history of index funds and their profound impact on the world of finance. Written by Financial Times journalist Robin Wigglesworth, this book tells the story of an unlikely group of individuals who came together with the heretical idea that even the world's best investors couldn't consistently outperform the market over the long term.
The group, which included economist Gene Fama, industry executive Jack Bogle, computer enthusiast John McQuown, and Second World War submariner Nate Most, succeeded beyond their wildest dreams. Today, passive investing through index funds likely accounts for over $26 trillion, equivalent to the entire gross domestic product of the United States. It has become a powerful force that is reshaping financial markets, finance, and even capitalism itself.
"Trillions" not only delves into the history of index funds but also explores the challenges and concerns that have arisen due to their immense growth. Some observers worry that the increasing influence of index funds and ETFs (exchange-traded funds) is destabilizing markets, transforming the investment industry, and concentrating power in the hands of a few.
This book offers a fascinating journey through the world of finance, featuring colorful characters and little-known details about how finance operates today. It is a must-read for anyone interested in the evolution of index funds and their impact on the financial world.
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