Before Google’s IPO in 2004, the company felt responsible for preparing their employees to manage their upcoming IPO wealth. So Google hosted a few experts in finance and economics to speak to their employees about personal investing. Some of the speakers were:
- William Sharpe: 1990 Nobel Laureate economist and professor emeritus of finance at Stanford’s Graduate School of Business
- Burton Malkiel: former dean of the Yale School of Management, now a professor of economics at Princeton, and author of the classic “A Random Walk Down Wall Street”
- John Bogle: founder and retired CEO of The Vanguard Group, the first company to offer index funds to retail investors
To the employees’ surprise, all speakers essentially had the same advice for Googlers: don’t try to beat the market and invest in low-cost index funds. This advice is not very interesting and you won’t get it from most paid advisors, however it is the best advice you can follow.
“The best investment advice you’ll never get” by Mark Dowie