• The Origins of Mutual Funds
    • “Mutual funds emerged as early as the second half of the 18th century in The Netherlands. The paper traces the history of mutual funds from the development of securitization in the 17th century to the invention of depository receipts in the 19th century. The apparent motivation for organizing the first mutual funds was to provide diversification for small investors.”
  • The Conman Who Pulled Off History’s Most Audacious Scam
    • “In October 1822, Gregor MacGregor, a native of Glengyle, Scotland, made a striking announcement. He was, he said, not only a local banker’s son, but the Cazique, or prince, of the land of Poyais along Honduras’s Black River.”
  • Global Factor Premiums
    • “We examine 24 global factor premiums across the main asset classes via replication and new-sample evidence spanning more than 200 years of data.”

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