US President Donald Trump recently launched 'Trump Accounts' for children to have investments in stock indices, which interestingly follows a simple stock market strategy that legendary investor Warren Buffett has been preaching for several years now.
The Treasury Department of the White House announced last week that Trump Accounts can accept donations of public stock, which in turn will be put in the State Street SPDR Portfolio S&P 500 ETF (SPYM) as an “initial default investment.” “The fund was selected to provide broad exposure to the US stock market while maintaining expenses well below the statutory fee limitation,” the department said in a statement on Thursday.
