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
by Compare funds October 18, 2021
n. A marital engagement under which the housing and living expenses of one fiance are covered by the other.
No matter how good your proposal is, she won't say 'yes' unless you agree to shack-up and make this a full-on funded engagement.
by Dkr. J February 23, 2018
n. feminine (for sticklers), (masculine: funded fiancé): An engaged individual whose housing and living costs are completely covered by the opposite party in the engagement.
by Dkr. J February 23, 2018
There goes Carl trying to swindle the city out of funds
by MrYellowTeeth47 April 28, 2024
by LingDanc803 March 22, 2023
Bro 1: drinks?
Bro 2: nah dog I'm more broke than the Maccys ice-cream machine!
Bro 1: Bro fund?
Bro 2: yeah sweet bro I'll get them in next time!
Bro 2: nah dog I'm more broke than the Maccys ice-cream machine!
Bro 1: Bro fund?
Bro 2: yeah sweet bro I'll get them in next time!
by TheAbominableVapeman December 27, 2016