Beware the “Proven 15-Year Track Record” on Wall Street

by Pam Martens and Russ Martens
Wall Street on Parade

We’ve been at the gym recently working off those pounds that come from spending too much time in a chair researching the serial crimes on Wall Street. The equipment at the gym is conveniently equipped with cable news and a commercial that is airing regularly on the business news channel, CNBC, caught our eye.

The commercial starts out like this:

“The power of 100 of the world’s top companies. The power of a proven 15-year track record.”

We were first inclined to giggle at a market index claiming a “15-year” track record. The Dow Jones Industrial Average, another stock market index, has been around since May 26, 1896 – a potentially more meaningful 120 years.

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