I just took the total NAV and I divided it by the shares.

And all of these guys benefit when stock markets go up.

But what it does is, it limits the interactions.

The only people who are customers of the financial press are money managers, financial planners, and things

Or I guess you can say that the share structure is locked from the beginning

So people who want to manage your wealth, stock brokers, mutual fund companies, anyone who can advertise.

Then came MlT, Bill Clinton handed him his diploma

Trust me, kids.

But in the same time, those new shares could be traded on an open market and that combination or you can kind of view it as the combination of the due actually exist and they're called Exchange Traded Funds.

And what we looked at was whether the number of fund offerings available in a retirement savings plan, the 401(k) plan, does that affect people's likelihood to save more for tomorrow.

When the story was published, unsolicited donations poured in.

These actually do exchange trade hand on the stock exchanges, but these aren't officially ETF.

You really want to get the decision right if it's for all eternity, right?

A buy side analyst is someone who works for a hedge fund or works for Fidelity at a mutual fund.

you have to buy this back from me at the NAV (net asset value) per share.

These funds are to philanthropy what venture capital, private equity, and eventually mutual funds are to investing, but with a twist because often a community forms around these funds, as it has at Acumen and other places.

I'll give you one very dramatic example of this a study that was done of investments in voluntary retirement plans.

And what she found is that for every 10 mutual funds the employer offered, rate of participation went down two percent.

That assets, A for assets, is equal to

But we'll do a whole playlist on that.

And those who fulfil their trusts and keep their promises

And those who keep proper regard for their trusts and their pledges.

and who preserve their trusts and their covenant

And those who of their trusts and covenant are keepers.

Those who are faithfully true to their Amanat (all the duties which Allah has ordained, honesty, moral responsibility and trusts etc.) and to their covenants

Those who are faithful to their trusts and pledges.

who are true to their trusts and their covenants,

And who are shepherds of their pledge and their covenant,

and those who keep their trusts and covenants

(Prosperous are those) who preserve their trusts and pledges

And they who are to their trusts and their promises attentive

those who are true to their trust,

And those who are keepers of their trusts and their covenant,

those who are faithful to their trusts and promises

Those who faithfully observe their trusts and their covenants

David Whittaker, Carnelian Prime Trust.

Those can only take funds from certain types of sophisticated investors. and what happens in Pete's fund, and this is going to be an open ended mutual fund that we're showing here, and most mutual funds are like that.

He'd be willing to take a lower return as long as he was allowed to invest in less risky investments.

And what is required is a combination of physical capital, institutional capital, human capital and security, of course, is critical, but so is information.

It should start to make a little bit of intuitive sense

And then on the equity side, because we have no liability, so in this case assets will be equal to equity.

You offer 50 funds 10 percent fewer employees participate than if you only offer five.

liabilities plus equity.

Right now with only 400 under management, it would only be about 4 year

In the last video we had Pete starting an open ended mutual fund that was managed by Pete Inc.