Paper hats and noisemakers all ‘round: the Dow Jones Industrial Average closed above its all-time high on Tuesday. Yes, we hear you grumblers in the back. It’s an index of only 30 big-cap US companies, with an irrational price-based weighting scheme, and is not adjusted for inflation or dividends – hardly representative of equity returns generally. Well, if you dislike confetti, suit yourself. The rest of us can take this occasion for reflection, as we do on other arbitrary occasions, like birthdays (or are you grouchy about those, too?).
到處都是紙帽子和喧鬧聲。人們在慶賀，道瓊斯工業(yè)平均指數(shù)(Dow Jones Industrial Average)周二收盤創(chuàng)歷史新高。沒錯，我們也聽到有些人在背后發(fā)牢騷：這個指數(shù)只涵蓋30家美國藍籌企業(yè)，采用的是一種不合理的基于價格的加權(quán)機制，而且沒有經(jīng)過通脹或股息調(diào)整，大體上來說并不能反映美國股市的投資收益。好吧，如果你還在為歡慶之后的滿目垃圾生厭，那隨便吧。我們其他人還是可以借此機會做一番反思，就像我們在其他隨意場合所做的那樣，比如生日（或者你對此也滿腹牢騷？）