OK, we weren’t actually able to call it the Richistan Index. But with help from me and Money & Investing Editor Ken Brown, Dow Jones has launched a new way to track the economy of the wealthy. It’s called the Dow Jones Luxury Index.The idea is simple. We now live in two economies: that of the rich and that of everyone else. The Luxury Index is a new barometer for measuring that parallel economy of Richistan. It’s made up of 30 stocks, all of which derive a large share of sales from luxury goods or high-end services. My goals were to make it global (to reflect the increasingly global nature of wealth); to include services (such as wealth management) as well as products; and to make it as “pure” a play as possible on the affluent.
By Robert Frank, July 18, 2009 WSJ The Wealth Report

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