IN DEBT WE TRUST

The first index fund was created by someone allergic to opinions. Passive investing: introvert finance.

✗ FAKE
The first index fund for individual investors was launched by John Bogle's Vanguard in 1976. It tracked the S&P 500 and was based on research showing most active managers fail to beat the market.

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The first loan agreement was sealed with a handshake and a suspicious stare. Legal departments cried from the future.“Burn rate” was coined after a startup burned dinner and the budget simultaneously. Efficiency was not invited.The first credit card was made of wood. It declined constantly but looked artisanal.The first time someone said “the market is efficient,” the market laughed in fees.The first financial meme was “stonks” carved into a cave wall. Humanity never changes.The word 'salary' comes from the Latin word for salt, which was once used as currency. Which explains why you’re still salty on payday.See all In Debt We Trust facts →

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