‘Anarchist’ Mac McQuown Started an Index Revolution 50 Years Ago

Bloomberg Quint | Jul 1, 2021 at 11:31 AM
  • The unsung hero of modern investing spends his days on the sunny vineyards of Sonoma, California — a world away from Wall Street.
  • The complexity and cost of constantly re-weighting the fund’s constituents was a huge drag, and in 1976 the Samsonite product was rolled into another fund that held members of the S&P 500 Index in proportion to their market values.
  • It’s largely thanks to index funds — which demystified the investing process and lowered costs for returns — that more than half of all Americans are invested in the stock market today.