ABSTRACT
The Dow Jones Index, arguably the best-known stock market index in the world, celebrated its 100th anniversary on May 26, 1996. For over a century, investors have relied on this benchmark as a barometer of the ups and downs on Wall Street. Over the years, indexes have played an increasingly important role in the investment community. In the early 1970s, indexes moved into the mainstream of investment management with the introduction of the first index funds. At this point, people began to think about indexes as investment portfolios. Index funds proliferated, and the simplest form of quantitative investing was born.
