Index
Accumulation
Acres of Diamonds thesis
Adjustable rate mortgage fund
Advice, cost of/fees . See also Costs, investment
Age, and asset allocation
Agency society
All-stock market index fund. See Indexing/index funds, all-stock market
Alpha
Alternative investment strategies/assets
Ambachtsheer, Keith
American Enterprise Institute
American Stock Exchange
Arnott, Robert
Asset allocation
and age
balance, ready-made/tailor-made
benefits of balanced investment program
and costs
determining appropriate balance
equity risk premium
long-term strategy, options for
and modern portfolio theory
policy (vs. strategy)
and reversion to the mean
and risk
tactical
Asset classes, principal
Asset(s), cost as percentage of
Asset size
and closet index funds
effect on returns
and fund investment returns
real size/real problems
recommendations
rule 6
size-proof mutual fund
why funds get too large
Balance. See Asset allocation
Basis points
Batterymarch Financial Management
Bear/bull scenarios
Beating the Street (Lynch)
Behavioral finance
Being There (film)
Berkshire Hathaway Corporation
Bernstein, Peter
Beta
Bogle, John C., Jr.
Bogle Financial Markets Research Center
Bogleheads
Bond market
assets of bond funds vs. stock funds
commodity-like (defined)
corporate bond funds, intermediate-term
costs consuming returns over time
duration
future of
history
impact of fees on
and indexing
inflation-hedge bonds
“inflation-protected” bonds
information on (web site)
long-term municipal bonds
low-cost options
and management skill
misgivings about
and Occam’s Razor
portfolio quality
predictability of bond funds
ratio, bond fund/stock fund
returns
risk management
vs. stocks, in investment strategy
and taxes
U.S. government and GNMA funds, intermediate-term
U.S. government bond funds, short-term
variation in funds
volatility
zero coupon bonds
Borglum, Gutzon
Brazil
BRIC funds (Brazil, Russia, India, China)
Brinson, Gary
Brinson-Hood-Beebower (BHB) study
Bubbles
Buffett, Warren
Bull/bear scenarios
Business Week
Capitalism:
casino
vs. trusteeship
Capitalization. See also Styles, equity
large cap stock funds: returns vs. expenses (1991 to 1996)
large cap stocks vs. small cap stocks (and RTM)
market, and GDP (1929-1008)
of world markets
Carhart, Mark
Cash reserves
Casino capitalism
“Challenge to Judgment” (Samuelson)
China
Closet indexing
Closing a fund
Coca-Cola
Collateralized debt obligations (CDOs)
College Retirement Equities Fund (CREF)
Commodity, equity portfolio as
Commodity-like (defined)
“Common Sense” (Paine)
Communications technology. See Technology
Competition (lack of)
Compounding:
and cost
magic of
moderation of
and reward
and risk
Rule of
Rule of 72
tyranny of
Conflict of interest. See also Directors
Control:
consequences of
divorced from ownership
levers of
shareholder
Conwell, Russell
Cornfeld, Bernie
Corporate bond funds, intermediate-term
Corporate earnings/dividends
Corporate profitability
Costs, investment
of advice (See also Costs, investment)
and asset size
and bond funds. See Bond market
evaluating equity funds on basis of
funds of funds
importance of
and index funds
and manager performance
perspective on impact of
portfolio expense ratios
reducing (mutual funds)
and returns (equity funds)
“rule 1” (low-cost)
source of variations in return
taxes. See Taxes
third dimension of investing
and time
12b-1 fees. See 12b-1 fees
wrap accounts
Cowles Commission
Crash of 1929
Crash of 1987
Crash of 2000-2002
Crash of 2007-2009
Credit default swaps (CDSs)
Crichton, Michael
Currency risk
Davis, Steven I.
Death of investor, and tax deferral
DeVoe, Raymond
Diamonds
Dickens, Charles
Dickson, Joel M.
Dimensions. See investing/investment dimensions (four)
Directors
alternative structure
and Congress and the SEC
control, consequences of
control, levers of
disclosure by
“empty suit” director syndrome
fees(See also Costs, investment)
and law
missions statements, corporate vs. mutual funds
Disclosure
Distribution
Distribution fees. See Costs, investment
Diversification
Dodd, David
Dollar-weighted returns
Dow Jones Industrial Average
Dow 36,000 (Glassman and Hassett)
EAFE Index (Europe, Australia, Far East)
Economic growth, U.S. (twentieth century)
Economic recovery
Economics of investing, understanding
Economies, international (and financial markets)
Efficient frontier
Efficient market theory
Einstein, Albert
Ellis, Charles
“Empty suit” director syndrome
Enhanced indexing
Enterprise/investment/speculation (Keynes)
Entrepreneurial lessons (17)
Entrepreneurship
Equity funds. See Mutual funds/mutual fund industry
Equity risk premium. See also Risk
Equity styles. See Styles, equity
Exchange-traded funds (ETFs)
Expense ratio
Fees. See Costs, investment
Fidelity/Vanguard rivalry
Fiduciary relationship
Field of Dreams (film)
Financial Analysts Journal
Financial press
Financial World
First Index Investment Trust
Forecasting. See Future predictions/ expectations
Fortune magazine
Fossel, Jon
Founders Mutual Fund
Fouse, William
Franklin, Benjamin
Friedman, Milton
Full House: The Spread of Excellence from Plato to Darwin (Gould)
Function/form (and strategy/structure)
Fund, mutual. See Mutual funds/mutual fund industry
Fundamental return vs. actual/market
Fund Marketing Alert
Fund selection
Funds of funds
Future predictions/expectations:
bears/bulls, and equity premium forecasting
bond returns in coming decade
forecasting returns (whether important)
indexing (countervailing forces)
Occam’s Razor methodology
selecting top performers in advance
stock returns in coming decade
Galbraith, John Kenneth
Garland, James P.
Ginnie Mae. See Government National Mortgage Association (GNMA/Ginnie Mae) securities
Glassman, James K.
Global investing
academic theorists’ ideal portfolio (world-market weightings)
capitalization of world markets
and costs
currency risks, and returns
efficient frontier
emerging markets
Europe/Pacific
global returns-year
indexing in international markets
international economies and financial markets
portfolio construction
U.S. stocks vs. international stocks
Global vs. international portfolio (defined)
GNMA. See Government National Mortgage Association (GNMA/Ginnie Mae) securities
Goetzmann, William
Gold
Gold standard, and inflation
Gore, Al
Gould, Stephen Jay
Government National Mortgage Association (GNMA/Ginnie Mae) securities
Government-plus fund
Graham, Benjamin
Graham and Dodd award
Grantham, Jeremy
Grantham, Mayo, and Van Otterlo
Greenleaf, Robert
Greenspan, Alan
Gross National Product (GNP), U.S.
Growth, economic, U.S. (twentieth century)
Growth funds/strategy
Hassett, Kevin A.
Hedge funds
Hitchens, Christopher
Hulbert Financial Digest
Human beings (business principle)
Human capital vs. financial capital
Human values
Ibbotson, Roger
Illinois Bell Telephone Corporation
Illiquid investments
Incentive fees
Indexing/index funds
advent of index fund
advocates of
all-stock market(See also Wilshire 5000 Equity Index)
balanced, simplicity in
and bond market
BRIC funds (Brazil, Russia, India, China)
challenge to fund managers
choice of
closet indexing
and costs
enhanced
equity, simplicity in
future of (countervailing forces)
“hot” product/“holy grail”
in international markets
and investment relativism
lessons of history
and long-term strategy
and market efficiency/inefficiency
and market efficiency/inefficiency (Pascal’s bet)
multi-fund portfolio
percentage of equity fund assets
performance, relative
and portfolio turnover
recent strategy
and reversion to the mean
and risk
S&P 500. See Standard & Poor’s 500 Stock Price Index
sales charges
and simplicity paradigm
and taxes
and time horizon
trend toward
triumph of
and unrealized capital gains
working in all markets
India
Individual stocks vs. mutual funds
Inflation
Inflation-hedge bonds
Information (for investors)
alternative investment strategies
cost
fee waivers
investment guidance
performance
proxy voting
Information technology. See Technology
Institutional Investor
Institutionalization of fund ownership
Integrity, and fiduciary relationship
Intelligent Investor, The (Graham)
Interest payments (source of bond market long-term returns)
International funds
International portfolio vs. global portfolio (defined). See also Global investing
International stocks vs. U.S. stocks
Investing/investment:
central task of
faith in/paradox of
global. See Global investing
long-term. See Long-term investing
in mutual funds. See Mutual funds/mutual fund industry
principles for (6 basic)
rules for (changing)
rules for (8 basic)
simplicity. See Simplicity, paradigm of
Investing/investment choices:
bonds(See also Bond market)
equity styles(See also Styles, equity)
fund selection(See also Mutual funds evaluation/selection)
global investing(See also Global investing)
indexing(See also Indexing/index funds)
Investing/investment dimensions (four)
cost(See also Costs, investment)
dimensional imperative
interaction of
reward
risk(See also Risk)
time
Investing/investment strategy
asset allocation(See also Asset allocation)
long-term investing(See also Long-term investing)
returns, nature of
and simplicity
Investment Company Act of 1940
Investment Company Institute (ICI)
Investment management industry. See also Mutual funds/mutual fund industry
directors(See also Directors)
ideal vs. actual
informed investors demanding reform
marketing(See also Marketing)
principles(See also Principles)
structure(See also Structure)
technology(See also Technology)
working in reverse, reasons for
Investment News
Investment performance
and asset size(See also Asset size)
and relativism, investment(See also Relativism, investment)
and reversion to the mean(See also Reversion to the mean (RTM))
and taxes(See also Taxes)
and time(See also Time)
Investment relativism. See Relativism, investment
Investment returns. See Returns
Investment/speculation/enterprise (Keynes)
Jahnke, William
Japan
Jeffrey, Robert H.
Johnson, Howard M.
Johnson, Samuel
Journal of Portfolio Management
Kelly, Michael
Kemp, Jack
Keynes, John Maynard
Kosinski, Jerzy
Leadership
failure/determination
for the future
implementation of
intellectual and ethical
luck
patience/courage
readiness/foresight, purpose/passion
sense of purpose
servant, leader as
LeBaron, Dean
Legg, Mason & Company
Legg Mason Value Trust
Lehman bond indexes
Levitt, Arthur
Life insurance companies
Lincoln, Abraham
“Lion King, The”
Long-term investing
alarms/major events
bond market historical returns/risk
and bull/bear markets
case for
and costs/fees
economics of investing
growth strategy, stocks vs. bonds
historical returns
and mutual funds
practice departing from principle
principles (six) for success
rule 8 (hold tight)
vs. short-term. See Short-term investing
stock market historical returns/risk
U.S. economic growth
Loser’s Game, The (Ellis)
Loser’s game (tick-tack-toe)
Lowenstein, Louis
Lowenstein, Roger
Lown, Dr. Bernard
Lynch, Peter
Magellan Fund
Malkiel, Burton
Management fees. See also Costs, investment
highest paid fund directors
over time (1920-1996)
Management principles . See also Leadership
Market efficiency/inefficiency, and index funds
Marketing
hawking products, hiding risk
investment firm vs. marketing firm
misleading advertising
money no object
owners vs. customers
press getting message
three novel types of funds
Market timing
Markowitz, Harry
Massachusetts Investors Trust (MIT)
Mathisen, Tyler
McLuhan, Marshall
McQuown, John
Mean. See Reversion to the mean (RTM)
Micawber’s formula
Microsoft
Miller, Merton
Mission statements
Modern portfolio theory
Modigliani, Franco
Money magazine
Money market funds
Morgan, Walter L.
Morgan Stanley Capital International (MSCI)
All Country World Index
Emerging Markets Index
Europe, Australasia, Far East (EAFE) Index
Pacific Index
Morgan Stanley Dean Witter
Morningstar
category rating system
Principia database
web site
Morningstar Investor
“Morning-stars”
Motley Fool
Multi-fund diversification
Munger, Charles T.
Municipal bond fund
long-term
and taxes
Mutual funds evaluation/selection
academic studies
equity fund record, modern era
and investment styles
real world tests
Mutual funds/mutual fund industry
advertising/promotion. See Marketing
and asset size. See Asset size
as business
call for reform
cash reserves. See Cash reserves
directors(See also Directors)
distribution vs. management
failure rate
fee-setting practices
fund holdings
fund structures
ideal vs. actual
vs. individual stocks
institutionalization of fund ownership
manager ownership of U.S. stocks
manager turnover, and taxes
marketing(See also Marketing)
mismanagement in
organizational structure (See also Structure)
performance, relative
principles(See also Principles)
reforms/suggestions for
resistance to reform
response to challenge of the index fund
risks, returns, and costs
and short term philosophy
technology(See also Technology)
triangle
true business of (gathering assets)
NASD. See National Association of Securities Dealers (NASD)
Nation, The
National Association of Securities Dealers (NASD)
Neff, John
New Yorker
New York Stock Exchange
New York Times
Nifty Fifty
Nikkei stock market index
Nominal returns (vs. real)
Numeric Investors
Occam’s Razor methodology
bond returns in coming decade
stock returns in coming decade
OppenheimerFunds
Options
Ownership society
Paine, Thomas
Paradox of investing
Parallax view
Pascal, Blaise
Passion, and leadership
Passive investment techniques. See also Indexing/index funds
Patience, and leadership
Pensions & Investments
Performance. See also Investment performance; Relativism, investment; Returns
comparing apples to apples
fund returns, through 2009
indexing
information
mutual funds
overrating past performance
S&P 500
using past performance to determine consistency and risk
Phillips, Don
Pie theory
Plexus Group
Portfolio:
balance, philosophy of(See also Asset allocation)
commodity, equity portfolio as
composition, and closet index funds
constructing your own global portfolio
fund selection recommendations
global vs. international portfolio (defined)
“ideal” global portfolio (world-market weightings)
vs. individual securities, and predictability/ probability
modern portfolio theory
portfolio expense ratios
rule 8 (hold tight)
turnover. See Turnover
Posner, Richard
Price, Michael
Price-earnings ratio
Pricing strategy decisions
Principles
human
human beings focus of
leadership. See Leadership
for long-term investing success
for a new fiduciary society
practice departing from
Process over judgment, triumph of
Product strategy decisions
Proxy voting information
Quantitative analysis
Quantitative investing
Random Walk Down Wall Street (Malkiel)
Real vs. nominal returns
Recession of 2008
Relativism, investment
closet indexing
measuring managers
and quantitative investing
Repeat-winner hypothesis
Reputation risk
Retirement plans/funds
Returns 1999-2009
and asset size. See Asset size
asset-weighted
balanced funds, managed vs. passive
bond market historical
bond market returns in coming decade
and costs. See Costs, investment
and dimensional imperative. See Investing/ investment dimensions (four)
dollar-weighted
equity vs. balanced funds
forecasting
fundamental return vs. actual/market
fundamental vs. actual/market
funds of funds
future
historical
nature of, and Occam’s Razor
nominal (vs. real)
randomness of
relative performance. See Relativism, investment
risk-adjusted (See also Risk)
stock market historical
stock market returns in coming decade
stock market 25-year
and style of investing. See Styles, equity
and time
time-weighted
Reversion to the mean (RTM)
and asset allocation
champions coming down to earth
common stocks
exceptions to
fund annual returns relative to average equity fund
fund annual returns relative to market index
new/higher mean
and retirement plans
and stock market sectors
Reward. See Returns
Risk
and allocation
average equity fund and index funds
and bond market. See Bond market
determining by past performance
disclosure
and equity funds
and global investing
and index funds
intolerance
and multiple funds
profile
rating (Morningstar)
stock market
and time
Risk, types of:
currency risk
manager risk
market risk
objective risk
reputation risk
style risk
Risk-adjusted returns
Risk management strategy
Rockefeller, John D.
Roosevelt, Theodore
R-squared
Rule of
Rules for investing
Russell 2500 Small Cap Index
Russia
S&P 500. See Standard & Poor’s 500 Stock Price Index
Safire, William
Sales charges
Samsonite Corporation
Samuelson, Paul A.
Sayre, Francis B., Jr.
Say’s Law (Jean Baptiste Say)
Schumpeter, Joseph
Schwab, Charles
Sector-neutral strategies, quantitative investing
Securities and Exchange Commission (SEC)
Security Analysis (Graham and Dodd)
Selecting funds/securities. See also Investing/investment choices; Investing/investment strategy
Servant, leader as
Share distribution
Shareholders:
control of a fund
independence of
interests of
vs. owners of management companies
Sharpe, William F.
Sharpe ratio
Short-term global income fund
Short-term investing
vs. long-term. See Long-term investing
market timing
and mutual fund management
Shoven, John B.
turnover, rapid
Siegel, Jeremy J.
Siegel, Laurence
Simplicity
focus of investment principles
majesty of
paradigm of
renewed need for
sticking to
trumping complexity
Size. See Asset size; Capitalization
Smith, Edgar Lawrence
Speculation
Spiders
Spirit
on entrepreneurship
on human beings
on leadership
Standard & Poor’s 500 Stock Price Index:
choosing index fund based on, vs. all-market fund
concession by Morgan Stanley Dean Witter
described
vs. global funds
and index funds
international companies in
not the market
and Occam’s Razor methodology results
performance comparisons
performance (long-term)
performance (through 2009)
price/book ratio
single standard
Spiders
Wilshire 5000 lower hurdle than
Standard deviation
Star ratings
Stewardship and trust
Stock market:
historic parallels (with 1929)
index funds. See Indexing/index funds
investing in. See Investing/investment
mutual funds. See Mutual funds/mutual fund industry
returns in coming decade (Occam’s Razor)
risk/return
thoughts on current (2010)
voting machine/weighing machine
Stock(s):
25-year returns on
individual; vs. mutual funds
vs. bonds(See also Asset allocation; Bond market)
Stocks for the Long Run (Siegel)
Strategy, investment. See Investing/investment strategy
Strategy decisions (and structure)
indexing
marketing
pricing
product
profit
risk management
service
Strategy vs. objectives, fund’s
Structure
control divorced from ownership
futuristic thoughts on change of course
and history of mutual fund industry
mutual vs. corporate traditional
ownership
restructuring or revision
and strategy decisions
Vanguard Group unique (See also Vanguard Group)
Structured investment vehicles (SIVs)
Styles, equity
annual returns by fund category
evaluating equity funds on basis of
and index funds
institutional style box
Morningstar style box
risk, by fund category
style purity
and tick-tack-toe
Supreme Court, and proxy voting
Survivor bias
Sutter, John
Swiss Bank Corp.
Tactical asset allocation
Talmud and modern portfolio theory
Taxes
and alpha
fund industry disregard for
and fund manager turnover
and index funds
mutual funds vs. individual stocks
parallax view
stock/bond funds, taxable vs. tax-deferred accounts
strategies
tax efficiency/inefficiency
tax-managed fund
and trading
and turnover
value of tax deferral
Taxpayer Relief Act of 1997
Technology
and alternative instruments
information vs. wisdom
pervasive impact of
report card
and turnover
Theory of Economic Development, The (Schumpeter)
Theory of rational expectations
Tick
Tick-tack-toe (loser’s game)
Time
and cost
dimensional imperative
and reward
and risk
Time dependence
TIME magazine
Timing. See Market timing
Tobin, James
Tracking error
Transaction costs. See Costs, investment
Triumph of Indexing (pamphlet)
Trusteeship, and mutual funds
Trusts
Turnover . See also Short-term investing; Speculation
2009
of equity fund shares (1961-2008)
fund manager (and taxes)
and global investing
mutual fund portfolio turnover (1946-2008)
rapid
and taxes
12b-1 fees
United States:
corporations (profitability of)
economic growth in
efficient frontier (vs. international)
fund manager ownership of U.S. stocks
government and GNMA funds, intermediate-term
government bond funds, short-term
international stocks vs. U.S. stocks
investing outside of. See Global investing
Treasury Bills
Treasury bonds
world market weight
Values, and leadership
Vanguard Group
Award for Excellence
client loyalty
composition of assets
employees (“crew”)
and entrepreneurship
and Fidelity feud
first index mutual fund
history of
and human beings
investor as human being
and leadership
name of
Partnership Plan
unique structure
Vanguard Index Trust
Vanguard 500 Index Fund
Van Wagoner Emerging Growth Fund
Venture capital
Vision, and leadership
Volatility
bond market (1802-2008)
stock market (1802-2008)
Voting/weighing machine (stock market as)
Waivers, fee (information on)
Wall Street Journal
Walter Scott and Partners, Edinburgh
War Games (film)
Warner, Charles Dudley
Washington, George
Washington Mutual
Weighted market index
Wellington Fund
Wells Fargo Bank
Wilshire 4500 Equity Index
Wilshire 5000 Equity Index
Wrap accounts
Zero-coupon bonds
Zweig, Jason