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From reflections on the volatility of 2007-08, to introducing new terms like "Big Dumb Money," and thoughts on building mental frameworks for investing, David reacts to his past essays with fresh insights for today's markets. I know 2007 wasn't great for investors. The first is, I didn't even remember 2007 almost zeroed out.
RITHOLTZ: So were you — in the early days, it was mutualfunds it was SMAs, what were you guys doing? That new name of the company became Franklin Templeton. So it was Franklin, along with mutualfund pioneer Sir John Templeton. You have half the number of publiccompanies that you had in 2000.
Now, I want to note four times over the past 20 years, the company split its stock, two for one in 2006, three for two in 2007, four for one in 2021, and 10 for one in 2024. By October 2007, the stock was making me look good as it tipped the scales at 120. Let's go through the story then. The stocks at 60. Think about it.
At one point in time, Jack Bogle, founder of, of Vanguard was chairman of their mutualfunds. Just really a fascinating history from, from a private company to a publiccompany back to a, a partnership. 00:07:33 [Speaker Changed] So when I, my first fund that I ran when I was at Montgomery was a mutualfund.
All of their portfolio managers not only are substantial investors in each of their funds, but they do a disclosure year that shows each manager by name and how much money they have invested in their own fund. I wish more mutualfunds and ETFs showed that data. What’s it like running a publiccompany?
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