News 10 Now
January 23, 2008

Finance museum revamped to show visitors how and why the markets move

By Lindley Pless

Mutual funds, treasury inflation protected securities, corporate bonds, U.S. government bonds – how familiar are you with these terms?

Professor Richard Sylla of NYU’s Stern School of Business says the Museum of American Finance on Wall Street has been renovated and revamped so that investors, both young and old, can come to get some insights.

“It's probably good for students of all ages. Young kids can come here and see a $5,000 or $10,000 bill that they probably didn't imagine existed,” says Sylla.

Finance museum revamped to show visitors how and why the markets move
With many people managing their own investments, understanding the markets is important. Our Lindley Pless tells us about a place where you can learn how and why the markets move.

Lee Kjelleren, president and CEO of the museum says the three-year renovation brought some new exhibitions to this 30,000 square foot space. He hopes people will really be inspired by what they see, especially the interactive entrepreneur section, where 16 business pioneers talk about how they made it to the top – just a small piece of what the museum offers.

“This has a certain practical utility,” said Kjelleren. “Yes, there are some beautiful, interesting documents. Really, you are here to improve your awareness on a level of information which his in your self interest.”

Another favorite section is the commodities wall. With gold and oil hitting prices that were unthinkable a year ago, this gives museum guests a visual sense of how these commodities are traded and why their prices change.

These days many people manage their own investments, which is why the museum says it's imperative that people of all ages understand the financial markets.

“We make a real strong societal contribution by empowering people to make more effective financial decisions. That's important in an age when increasingly folks have to take responsibility for their own financial situations,” said Kjelleren.

The museum says they give an honest view of Wall Streets ups and downs, while also offering classrooms where students can hear professors and speakers share their insights.

The cost of admission is $8 for adults, $6 for students, $5 for seniors, and children under six get in for free. It’s a small price to pay considering what you learn at the museum could help you to make some very big returns.

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