Full Name
Trillions: How a Band of Wall Street Renegades Invented the Index Fund and Changed Finance Forever

Trillions is a definitive book on the past, present and future of passive investing and how its reshaping financial markets. In this book, Financial Times journalist Robin Wigglesworth explores the emergence of the index fund as an unrivalled invention in recent financial history. He explains the history of financial innovation and index investing, told through the intimate account of individual ‘Wall Street renegades’ and those around them who made it possible. Trillions recounts how a number of academics created the theoretical basis for indexing and how their disciples established an industry based on those principles, but it is also a story of several random events that led to the indexing revolution.


“A magisterial, delightfully written history offering up portraits of the academic scribblers and entrepreneurial practitioners who created the index-fund revolution. It also contains common-sense wisdom that will benefit all investors...“

—The Wall Street Journal 

“A thoroughly reported and engaging account, featuring characters including the indomitable John "Jack" Bogle, founder of the Vanguard fund powerhouse, Larry Fink, architect of the even-larger BlackRock, and Louis Bachelier, a French mathematician whose 1900 PhD thesis made an early contribution to the academic underpinnings of passive enjoyable read.”


"Very few writers can tell a great story and help us understand a big idea. Wigglesworth is one of those rare journalists who can."

Rana Foroohar, global business columnist at the Financial Times and author of Makers and Takers and Don't Be Evil

“A tour de force."

—Mohamed El Erian, Chief Economic Adviser of Allianz and author of When Markets Collide and The Only Game in Town

"In Wigglesworth’s hands, the greatest change in investing in the last 100 years is brought to life like never before. A page turner!"

Fred Grauer, former CEO of Wells Fargo Investment Advisors/Barclays Global Investors


"Wigglesworth is one of the most lucid and exciting journalists writing about finance today. This book tackles the enormous changes that have swept the investing world through the stories of its charismatic innovators."

Bradley Hope, writer at Project Brazen and author of Billion Dollar Whale