But since that beginning, Wall Street professionals have pushed for a larger and larger number of stocks in any measure of the market. The feeling was that the more companies that are represented in an index, the more representative of the broader market.
So we've had the Standard and Poors 500 Stock Index, The Russel 2000 Index and the Wilshire 5000 index.
Always the push to include more and more companies in each measure of the market.
But, recent market performance indicates that we may have gotten it all wrong.