A primitive version of what today would most likely be a "mutual fund" or similar instrument.
The origins of the term date to the stock market bubble of the Roaring Twenties, where at the peak of the frenzy individual speculators were offering "$600 for radio" - in this case, not an actual AM radio receiver, but one share of stock in RCA, which was being hyped in those days as vociferously as Internet-related stocks at the turn of the millennium.
$600 was a lot of money in those days, so those who couldn't afford to buy the stock directly would collectively buy into a bucket fund and the bucket fund would buy the stock, hold it briefly, then sell it to repay the individual speculators.
Eventually the bubble burst and everyone lost their shirt.
The origins of the term date to the stock market bubble of the Roaring Twenties, where at the peak of the frenzy individual speculators were offering "$600 for radio" - in this case, not an actual AM radio receiver, but one share of stock in RCA, which was being hyped in those days as vociferously as Internet-related stocks at the turn of the millennium.
$600 was a lot of money in those days, so those who couldn't afford to buy the stock directly would collectively buy into a bucket fund and the bucket fund would buy the stock, hold it briefly, then sell it to repay the individual speculators.
Eventually the bubble burst and everyone lost their shirt.
It seems that everyone these days is peddling mutual funds, exchange traded funds, funds, funds, funds. Banks, trust companies, credit unions, insurance companies... all are getting on the bandwagon and unleashing their most voracious commission salespeople. No wonder, though, as the various inscrutable offerings are a nightmare of fees - front-end loads, back-end loads, management expense ratios - to the point where the modern equivalent to a bucket fund is a leaky bucket where 2% of your life slavings may well be gone every year just in fees. Over a quarter century, that might add up to half your capital.
So basically, the leaky bucket fund with its active management has to outperform the market by 2% annually every darned year just to cover all of the bull-shovel fees. Not all of them do. It's a little like a stockbroker proudly pointing out his shiny new boat at the marina only to be asked "but where are the customer's yachts?"
So basically, the leaky bucket fund with its active management has to outperform the market by 2% annually every darned year just to cover all of the bull-shovel fees. Not all of them do. It's a little like a stockbroker proudly pointing out his shiny new boat at the marina only to be asked "but where are the customer's yachts?"
by bitchuck September 20, 2024
Get the bucket fundmug. A young attractive female who has no, or little, visible means of support, living a wealthy lifestyle through the generosity of a wealthy man. Sometimes the gifting from the man is through make work, such as handling one high dollar real estate deal so that the thrust fund recipient can live off of the commission for a long period of time.
She sells one $20M piece of real estate every year for a commission of nearly 800k - She's a thrust fund recipient.
by Wrangler of Skanks March 12, 2025
Get the Thrust Fund Recipientmug. by Iamfromalabama August 9, 2017
Get the disney fundmug. by Midnight2000 July 5, 2024
Get the Insignificant fundsmug. A sort of hedge fund that is invisible to the government and tax implications. It is a legal loophole to use cryptocurrency to get around the bureaucratic policies that would usually stop normal individuals from starting a hedge fund. It does not exist as far as taxes are concerned
I invested in a ghost fund last year. Despite me making money using that investment vehicle, I claimed the taxes in my name instead.
by loosoh June 15, 2021
Get the Ghost fundmug. by Vodka_Veins August 20, 2016
Get the aux fundsmug. Sarcastic term for da sizeable wad of cash dat a lying chat-contact from Ghana or Nigeria asked you to send to him/her, supposedly in order to give said foreigner confidence dat you're "for real" prior to his traveling overseas to meet you in person. Doubly a bad idea for you to actually comply with, of course, since (A) this OTHER person should conceivably be da one to prove to YOU dat he/she is legit, since presumably you will likely be da one who will be paying for most of da person's expenses if he/she comes to see you, and (B) most likely said conniving moocher is merely trying to con money out of you, and in reality has no actual intention of ever making any travel-plans to hang out with you.
by QuacksO March 22, 2023
Get the trust fundsmug.