Trillions

How a Band of Wall Street Renegades Invented the Index Fund and Changed Finance Forever

Trillions
Robin Wigglesworth
RRP:
NZ$ 65.00
Our Price:
NZ$ 52.00
Hardback
h240 x 156mm - 224pg
14 Oct 2021 UK
International import eta 7-19 days
9780241422052
Out Of Stock
Currently no stock in-store, stock is sourced to your order
The explosive growth of index funds has revolutionised markets around the globe but how far can they go? Index funds are perhaps the most widely influential investment vehicles available. They have revolutionised investing, saving millions of people untold billions of dollars in fees that would otherwise have gone to fund managers. It is no exaggeration to say that the rise of passive investing is probably one of the most consequential financial inventions of the past half-century. It is rewiring markets and reshaping the finance industry. Yet some detractors say that index investing is an insidious disease and with their rapid expansion, and grip on the financial market, index funds may have cataclysmic consequences that we aren' t even aware of yet. What might the socio-economic risks of wide-spread passive investing be? What are the longer-term consequences to capitalism? And what does the future look like for the investment landscape? Through exclusive interviews with key industry giants, Robin Wigglesworth, the Financial Times' New York-based markets editor, reveals the thrilling and untold history of the revolutionists behind the invention of index funds and investigates one of the most pressing financial uncertainties of our time.
Trillions is both entertaining and educational. Wigglesworth explores one of the most important modern-day financial innovations and explains its broad impact on financial markets, investors, global economies and even capitalism. A terrific read and a topic that will become more important as passive investments increasingly dominate markets. Wigglesworth brings what could be a dull topic to full life * Gregory Zuckerman, special writer at the Wall Street Journal and author of The Man Who Solved the Market * As only the incomparable Robin Wigglesworth could do, in Trillions he turns the often obscured history of the investment industry into a rollicking great yarn, replete with admirable heroes, political infighting, fascinating diversions and unexpected triumphs * William Cohan, special correspondent at Vanity Fair and author of The Last Tycoons * Very few writers can tell a great story and help us understand a big idea. Robin Wigglesworth is one of those rare journalists who can. His history of the index fund is required reading for anyone who wants to know where the financial markets have come, and where they are going. It' s also just a wonderfully engaging romp through the last half century of market news * Rana Foroohar, global business columnist at the Financial Times and author of Don' t Be Evil * This is a tour de force. Passive investing has become a bedrock of finance but very few investors understand where and how this practice emerged from and how it is changing markets in a way that impacts us all. Wilgglesworth has turned this arcane tale into an easy-to-understand and fun read, full of lively characters and little known details of how finance really works today. Anyone who wants to understand modern investing should read it * Gillian Tett, chair of the editorial board and US editor-at-large at the Financial Times and author of Fool' s Gold * A real tour de force, this engaging and thought-provoking book brings together several historical threads - from Warren Buffett' s famous hedge fund bet to the ' Manhattan Project of financial economics' - to show how passive investing and index funds have evolved into an ETF phenomenon that has ' humble[d] the investment industry . . . reshape[d] finance forever,' and now poses risks for future financial stability and economic wellbeing * --Mohamed El Erian, Chief Economic Adviser of Allianz and author of When Markets Collide * The greatest change in investing in the last 100 years is brought to life like never before. A page turner! * Fred Grauer, former CEO of Wells Fargo Investment Advisors * Robin Wigglesworth is one of the most lucid and exciting journalists writing about finance today. Trillions tackles the enormous changes that have swept the investing world through the stories of its charismatic innovators. It' s a fascinating journey and a crucial book for anyone trying to understand the financial markets * Bradley Hope, writer at Project Brazen and author of Billion Dollar Whale *
Robin Wigglesworth is the Financial Times' New York-based markets editor. He is in charge of coverage of financial markets and asset management across the Americas. Previously he was Deputy Head of FastFT - the organisation' s breaking news and views service -, a capital markets correspondent in London and a Middle East correspondent based in the Gulf. Before joining the FT, he worked at Bloomberg News covering Nordic economics and politics.
Status: Active
ISBN-13: 9780241422052
Published: 14 Oct 2021
Published In: United Kingdom
Imprint: Penguin Business
Publisher: Penguin Books
Format: Hardback
Height: 240mm
Width: 156mm
Spine: 33mm
Weight: 600g
Pages: 224

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