FORGET STOCKS AND BONDS: Art Has Been Crushing Equities Over The Last Decade

You know how there are those people in the world who think that we should shut down all the classes in school that aren’t math and engineering because those are the things that generate economic value?   Well…

The Mei Moses has beaten the S&P 500 in six of the last 10 years, with an average annual return of 7.8 per cent compared with 2.7 per cent for the benchmark US index. The Mei Moses tracks the prices at which individual works of art sell over time using repeat sales data, in a methodology similar to the S&P Case-Shiller property index.

“Art prices are not correlated to sudden swings in stock markets but their prices tend to match changes in wealth creation and destruction. I’m not surprised by this growth as we are not seeing the wealth damage of 2008-2009,” said Michael Moses, creator of the index.

via FORGET STOCKS AND BONDS: Art Has Been Crushing Equities Over The Last Decade.