Katherine Sullivan
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Podcast Appearances
and Eric Trump, are investing in another drone company, Powerus.
And Roche shares fell nearly 3% after the Swiss pharmaceutical company said a late-stage study for an experimental breast cancer treatment missed its primary objective.
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So, Jason Zweig, what is a tontine?
Jason Zweig writes the Intelligent Investor column at the Wall Street Journal.
He spends a lot of time thinking about how people invest and how they used to invest.
You may have heard about tontines from popular culture.
They've been the subject of an episode of The Simpsons.
We're in the animated television show Archer, and we're also the subject of a 1966 movie called The Wrong Box, starring Michael Caine.
And he did it because he wanted me to have the tontine.
Tontines originated in Europe, but became popular as a financial tool in the early years of American independence.
Alexander Hamilton even proposed using a tontine system as a way to manage and fund national debt.
His plan wasn't approved, and Tantines eventually lost popularity due to fraud and corruption.
They also had a bad reputation in popular culture.
But before they fell out of fashion, Tantines were some of the earliest tools that people used for retirement.
Today, Americans no longer resort to tontines for retirement.
We rely instead on three main pillars of savings.