The Nasdaq Government Relief Index
At first I thought this was joke, but apparently NASDAQ has introduced an index that consists of all the companies that are getting bailout money:
The index enables investors to track the performance of U.S.-listed securities that are participating in U.S. government sponsored relief programs such as the Troubled Asset Relief Program (TARP) or other direct government investments. The NASDAQ OMX Government Relief Index is the latest index launched by NASDAQ OMX Index Group and underscores its commitment to designing and calculating relevant world-class indexes.
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“We believe the NASDAQ OMX Government Relief Index will be useful in helping investors evaluate the government’s investments and the impact of the relief plan on the economy during this period of historical significance.” (Source)
Actually this isn’t a bad idea. Using this index, we can track the money the government took from us and invested. After all, all those politicians told us that we’d probably turn a profit on this.
The index started with a value of $1000 in 3 weeks ago. Let’s use Yahoo Finance to check on our investment: hmm… it looks like it closed at $658.03.
So in 3 weeks, we’ve lost over 35%. Perhaps I was wrong about the government being stupid and inefficient. After all, it took two awarding winning investors a whole year to lose that much money.
To speed things up, we should consider skipping the middleman and just dump the money in a big hole.
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