6
Indices and aggregates: market indicators
“ We live in the Age of Performance. Performance means, quite simply, that your portfolio does better than others.”
George J W Goodman(“Adam Smith”)
“ The past history of the series (of stock price changes) cannot be used to predict the future in any meaningful way. The future path of the price level of a security is no more predictable than the path of a series of cumulated random numbers.”
Eugene Fama
- An index tracks the value of a basket of shares over time. A basket typically includes the shares of companies of a similar industry, size or location.
- Stock market indices are invaluable benchmarks for evaluating investors’ performance. For business managers too, such benchmark information is highly ...
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