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WTT: When the Benchmark Becomes a Bet
Throughout most of my career, the S&P 500 has been an appropriate bogey to assess manager performance. More than that, it's the most widely used benchmark in the capital markets.
But today, it doesn't represent the broad-based, diversified exposure to the U.S. economy that most participants take for granted when investing passively or measuring manager skill.
This WTT, When the Benchmark Becomes a Bet, considers the evidence, implications, and challenges posed by the current composition of the S&P 500.
Read Ted's blog here.
Editing and post-production work for this episode was provided by The…
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