Chapter Fifteen
The Exchange
Traded Fund
-
A Trader to the Cause
EVEN BEFORE THE RISE of the so-called new paradigm of
fundamental indexing described in Chapter 14, traditional
indexing was being challenged by a sort of wolf-in-sheep’s
clothing, the exchange traded fund (ETF).

Chapter Fifteen The Exchange Traded Fund - A Trader to the Cause EVEN BEFORE THE RISE of the so-called new paradigm of fundamental indexing described in Chapter 14, traditional indexing was being challenged by a sort of wolf-in-sheep’s clothing, the exchange traded fund (ETF).

The Exchange Traded Fund

To Paul A. Samuelson, professor of economics 
at Massachusetts Institute of Technology, 
Nobel Laureate, investment sage.
In 1948 when I was a student at Princeton 
University, his classic textbook introduced me 
to economics. In 1974, his writings reignited my 
interest in market indexing as an investment strategy.
In 1976, his Newsweek column applauded my cre-
ation of the world’s first index mutual fund. In
1993, he wrote the foreword to my first book, and
in 1999 he provided a powerful endorsement for my
second. Now in his ninety-second year, he remains
my mentor, my inspiratio

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To Paul A. Samuelson, professor of economics at Massachusetts Institute of Technology, Nobel Laureate, investment sage. In 1948 when I was a student at Princeton University, his classic textbook introduced me to economics. In 1974, his writings reignited my interest in market indexing as an investment strategy. In 1976, his Newsweek column applauded my cre- ation of the world’s first index mutual fund. In 1993, he wrote the foreword to my first book, and in 1999 he provided a powerful endorsement for my second. Now in his ninety-second year, he remains my mentor, my inspiratio

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The Exchange Traded Fund

The Exchange Traded Fund