The First Index Fund Ever?

We take our ability to dip in and out of the indices each day for granted.  In the 1970’s, this is was an impossibility for 99% of market participants.  So was wearing non-hideous clothing, but that’s a topic for another day.

Gary Antonacci sent over this cool little story yesterday.  Gary’s a 35-year market veteran, his research and trading firm is called Optimal Momentum.

You guys’ll get a kick out of this…

Did you ever wonder how and when the very first index fund started? Many think it was in 1971 when Wells Fargo (which became Barclays Global Investors before being acquired by Black Rock in 2009) put $6 into every stock on the NYSE for the Samsonite pension fund. But that’s not correct. Let me tell you how it really began.

Head over for the rest…

Source:

World’s First Index Fund (Optimal Momentum)