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Index Funds Book
Index Funds: The 12-Step Program for Active Investors (Hardcover)

by Mark T Hebner
ISBN: 0-9768023-0-9




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Videos
Harry M. Markowitz explains Portfolio Theory: what it is and how it's used from a top-down model from the asset classes to the investments. He covers Standard Deviation, Variance, Correlation, and Covariance. Markowitz also explains what happened in 2008 with Modern Portfolio Theory. (39 Min.)

Harry M. Markowitz - Portfolio Theory and 2008

Mark covers historic recovery patterns and probability of future returns, the risks and returns that come with big government, the role of commodities in your investments, the pros and cons of inflation-hedging securities, and an investment strategy that has been highly successful historically. (92 Min.)

Mark T. Hebner - Big Losses, Big Government and Your Investments

Harry Markowitz gives an IFA Exclusive Presentation on Portfolio Theory Vs. Financial Engineering, and Their Roles in Financial Crises. Markowitz explains the difference between Portfolio Theory and Financial Engineering. Markowitz also covers Black Monday (October 19, 1987), Long Term Capital Management, and Now. (47 Min.)

Harry Markowitz - Portfolio Theory Vs. Financial Engineering, and Their Roles in Financial Crises

The first step on the index funds journey is to recognize active investor behavior. If all investors were lined up in a row, could the active investors be identified? Active investors actively engage in stock picking, time picking (market timing), manager picking, and style picking.

Step 1: Active Investors - Podcast Interview with Mark Hebner

Mark Hebner explains the Nobel Laureates. Mark suggests a higher power of non-biased information from academics who carefully analyze data and have that data peer reviewed before it is published. Mark identifies the five basic concepts of the Modern Portfolio Theory.

Step 2: Nobel Laureates - Podcast Interview with Mark Hebner

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Will McClatchy
Will McClatchy

Holdings Study: Fidelity Growth & Income vs. Vanguard 500

Will McClatchy
Monday, August 21, 2000

This table compares amounts of stock held in each fund. At least 63% of the holdings are absolutely identical. Periods during which data was gathered (source: Wiesenberger) do not entirely coincide.

Fund Name


Vanguard S&P 500


Fidelity Growth & Income

  
Holdings as of:
12/31/99 3/31/00  
Symbol Company Name % of fund % of fund % identical
GE GENERALELECCO 4.20% 5.64% 4.20%
INTC INTELCORP 3.67% 2.96% 2.96%
CSCO CISCOSYSINC 3.41% 3.30% 3.30%
MSFT MICROSOFTCORP 3.39% 3.92% 3.39%
PFE PFIZERINC 2.45% 2.76% 2.45%
XOM EXXONMOBILCORP 2.23% 3.46% 2.23%
WMT WALMARTSTORESINC 2.11% 2.16% 2.11%
ORCL ORACLECORP 1.96% 1.19% 1.19%
C CITIGROUPINC 1.71% 1.00% 1.00%
IBM INTERNAT'LBUSMACHS 1.62% 1.07% 1.07%
LU LUCENTTECHNOLOGIESINC 1.52% 0.59% 0.59%
NT NORTELNETWORKSCORP 1.52% 0.30% 0.30%
AIG AMERICANINTLGROUPINC 1.49% 1.88% 1.49%
MRK MERCK&COINC 1.47% 2.65% 1.47%
EMC EMCCORPMASS 1.29% 1.18% 1.18%
SBC SBCCOMMUNICATIONSINC 1.28% 1.59% 1.28%
SUNW SUNMICROSYSTEMSINC 1.17% 0.79% 0.79%
KO COCACOLACO 1.16% 0.48% 0.48%
JNJ JOHNSON&JOHNSON 1.16% 0.24% 0.24%
RD ROYALDUTCHPETECO 1.08% 0.87% 0.87%
T AT&TCORP 1.07% 0.83% 0.83%
WCOM WORLDCOMINCGANEW 1.07% 0.86% 0.86%
HWP HEWLETTPACKARDCO 1.04% 0.70% 0.70%
DELL DELLCOMPUTERCORP 1.03% 0.50% 0.50%
AOL AMERICAONLINEINCDEL 0.97% 0.21% 0.21%
BMY BRISTOLMYERSSQUIBBCO 0.95% 1.28% 0.95%
HD HOMEDEPOTINC 0.94% 1.53% 0.94%
TXN TEXASINSTRSINC 0.90% 0.86% 0.86%
LLY LILLYELI&CO 0.89% 2.02% 0.89%
VIAB VIACOMINC 0.84% 0.84% 0.84%
TWX TIMEWARNERINC 0.80% 0.69% 0.69%
MWD MORGANSTANLEYDEAN 0.76% 0.72% 0.72%
BLS BELLSOUTHCORP 0.66% 0.72% 0.66%
TYC TYCOINTLLTDNEW 0.66% 1.56% 0.66%
DIS DISNEYWALTCO 0.66% 0.42% 0.42%
BEL BELLATLANTICCORP 0.65% 0.39% 0.39%
AHP AMERICANHOMEPRODS 0.63% 1.04% 0.63%
PG PROCTER&GAMBLECO 0.62% 1.00% 0.62%
SGP SCHERINGPLOUGHCORP 0.61% 0.74% 0.61%
BAC BANKOFAMERICACORP 0.60% 0.00% 0.00%
AMGN AMGENINC 0.59% 1.25% 0.59%
AXP AMERICANEXPRESSCO 0.57% 2.13% 0.57%
AMAT APPLIEDMATLSINC 0.56% 0.26% 0.26%
ABT ABBOTTLABS 0.56% 0.05% 0.05%
GLW CORNINGINC 0.54% 0.90% 0.54%
YHOO YAHOOINC 0.54% 0.05% 0.05%
PEP PEPSICOINC 0.53% 0.65% 0.53%
PHA PHARMACIACORP 0.53% 0.63% 0.53%
WFC WELLSFARGO&CONEW 0.52% 0.39% 0.39%
MO PHILIPMORRISCOSINC 0.51% 0.63% 0.51%
MOT MOTOROLAINC 0.51% 0.54% 0.51%
GTE GTECORP 0.50% 0.45% 0.45%
MDT MEDTRONICINC 0.49% 0.25% 0.25%
CMB CHASEMANHATTANCORP 0.47% 0.30% 0.30%
CHV CHEVRONCORPORATION 0.46% 0.33% 0.33%
FNM FEDERALNATLMTGASSN 0.44% 1.80% 0.44%
F FORDMTRCODEL 0.43% 0.38% 0.38%
PCS SPRINTCORP 0.42% 0.41% 0.41%
MU MICRONTECHNOLOGYINC 0.39% 0.00% 0.00%
ENE ENRONCORP 0.38% 0.35%

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