Turnbull advice helped turn ‘fool’ into investment guru
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When he was setting up BetaShares ETFs, Alex Vynokur was frequently told he was a fool but a former Australian prime minister helped steady his hand as he started on a path to creating a multibillion-dollar index-tracking empire.
“Most of my friends thought that I was an idiot, basically, to start the business,” he says, casting his mind back to the late 2000s when he was also dealing with a new baby at home.
BetaShares ETFs CEO Alex Vynokur has seen funds under management jump from $10 billion to $18 billion in less than a year.
Turnbull advice helped turn fool into investment guru
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Turnbull advice helped turn fool into investment guru
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What are ETFs and should you buy one?
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April 24, 2021 11.01pm
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One of the most important things for new investors to understand about the Australian Securities Exchange is that it is about so much more than buying and selling shares.
Sure, you can definitely do that on the ASX. Of the roughly 2300 entities listed there, about 2000 are companies in a traditional sense. You know, a group of people who have a business idea who decide to issue shares in their company to investors, which can be bought and sold on the sharemarket.