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?).
到处都是纸帽子和喧闹声。人们在庆贺，道琼斯工业平均指数(Dow Jones Industrial Average)周二收盘创历史新高。没错，我们也听到有些人在背后发牢骚：这个指数只涵盖30家美国蓝筹企业，采用的是一种不合理的基于价格的加权机制，而且没有经过通胀或股息调整，大体上来说并不能反映美国股市的投资收益。好吧，如果你还在为欢庆之后的满目垃圾生厌，那随便吧。我们其他人还是可以借此机会做一番反思，就像我们在其他随意场合所做的那样，比如生日（或者你对此也满腹牢骚？）