In an ideal world, the Dax would only consist of six values.
Namely those six of his current 40 titles that are up this year.
In this ideal world, Deutsche Börse would always switch to the most promising stocks in its leading index in good time for the next few months.
But the stock market doesn't have a crystal ball either.
We are all to blame
Ten of the ten stocks that it added in September last year to increase its leading index from 30 to 40 stocks have been in the red since then.
That's not a good yield.
However, it cannot be the task of an index provider to separate the wheat from the chaff.
Fund managers can try this.
The index should reflect the capital market of its respective country as accurately as possible.
The fact that Deutsche Börse has recently started using profit figures does not make things any better, only more complicated.
The Dax is therefore not a bad index.
Don't expect miracles from him either.
Apple alone is worth more than all listed companies in Germany.
This is not the fault of Deutsche Börse, but of all of us who do not exactly ensure a capital market-friendly climate in Germany.