Wall Street for Dummies
One hundred and thirty million Americans have a self-directed retirement account with a total value of $25 trillion. Two decades ago, the management of these accounts was the exclusive domain of Wall Street. The along came Joe Ricketts and Jack Bogle who built tools that allow ordinary investors to produce results that are better than the pros.
I operate under no illusion that I have discovered the investment Holy Grail. But what I have discovered that the conventional wisdom on how the stock market operates, doesn’t hold water in the real world. My mission is to make investors aware of their options and teach them how to use them.
Wall Street Dummy s are shrewd investors who realize that Wall Street’s jibber jabber generates more money for Wall Street than Main Street. They view the moniker Dummy as a badge of honor and a put down of the Wall Street elite. Wall Street Dummies are stalwart proponents of the investment tools created by Joe Ricketts and Jack Bogle and use them to enhance the returns of their retirement accounts.
Wall Street for Dummies
Season 1 Episode 2 The Amazing Electronic Stock Market
For the first 200 years of its existence, the New York Stock Exchange operated as a virtual monopoly. Then in 2007, the SEC decided that the NYSE needed more competition, and miraculously 12 new electronic exchanges appeared. Their electronic infrastructure was a game changer. New electronic traders entered the mix and dramatically altered the markets pricing mechanism.