The mid year, 2005 to 2006 annual return in the Mei Moses Semi Annual All Art Index of over 22% is surpassed only by the returns in 1999 and the art bubble years of 1987 through 1990. The result significantly outpaced the 8.3%increase of the S&P 500 total return index in the same period. It is for the first time, the most recent 5 and 10 year returns for art 11.3% and 8.5% respectively, have exceeded the returns of stocks 2.5% and 8.3% respectively says Michael Moses who has developed the Mei Moses index with fellow professor Jianping Mei, at the Stern School of Business, NY. Moreover, based on their research, they have been able to establish that there is a low correlation between the semi annual percentage changes in art (the Mei Moses Art Index) and stocks (S&P 500 TR) Indices since 1961. This indicates that art should play a positive role in portfolio diversification says Moses.
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