#13 The Contrarian
Behind the Balance Sheet
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Index Funds Are Not Invented for People to Invest In
Index committees put into the index a whole lot of new fangled companies that er had probably not existed five years before, and certainly ihd hardly heard of some of them. That was the peak of the tet boom. And sure enough, in march two thousand, the theck bubble burst. Six months later, the index committee had to reverse their move because in that interim time, the price of whit bread had gone up by 25 or 30%. I think the average price increase of those five or six companies was 25 %. So if you were following the index fund, if you were invested in index fun, that's what you did. You are really treading on the coat tails of
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