How could a single fake tweet drive down the markets so quickly? It’s been billed as a “Terminator moment“, when the markets reminded us about Skynet’s grip on trading. The Dow dropped 145 points in a matter of minutes, only to recover and end up for the day. But the moment was yet another alarming display of how high-speed trading can instantly alter the markets.
Philip Carret was an investor and founder of Pioneer Fund, one of the first mutual funds in the United States. Carret ran the mutual fund for 55 years, during which time an investment of $10,000 became $8 million. That suggests he achieved a compound annual return of nearly 13% for his investors. Q1 2021 hedge Read More