The World Cup Indicator?
Thursday, June 10, 2010 at 08:11PM Since we have the Sports Illustrated Swimsuit Indicator as well as the Super Bowl Indicator, why not have the World Cup Indicator, right? On the eve of the start of the 19th World Cup hosted by South Africa, the world appears ready to let the games begin. But are global stock markets ready? Based on historical performance during and immediately after past World Cups, probably not.
Below is a table of the dates, winners, and runners-up for the prior 18 World Cups. We also highlight the performance of the S&P 500 and the MSCI World Index during and in the three months after the event. As shown, both the US and world markets have averaged declines over both periods throughout history. The S&P 500 has averaged a decline of 1.65% during all 18 prior World Cups, and a decline of 0.37% in the three months following. The MSCI World Index, which we only have back to the 1970 World Cup, has averaged a decline of 1.25% during and 4.34% over the following three months. Historically the market has averaged gains over one- and three-month periods, so indices have definitely underperformed during World Cups. Most fans of the sport would take a couple months of declines in the market if it meant their country would win, however.
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The footballers who supported the bans on playing for dummy 'multi-racial' teams during the apartheid era. The heroes of the African game who deployed their prowess on the dusty township football parks (you could hardly call them stadiums). Often accompanied by choirs of fans singing their hearts out, and not the obvious borrowed-from-Britain anthems and hymns (ironically, the mound occupied by the Liverpool choir at Anfield was an abbreviation of the Afrikaans word for hill — 'kopje') who mixed their adulation for the players with some rousing calls to arms in the struggle for freedom, most of which were not understood by the authorities, who rarely went to black football games during the apartheid era.
The footballers who supported the bans on playing for dummy 'multi-racial' teams during the apartheid era. The heroes of the African game who deployed their prowess on the dusty township football parks (you could hardly call them stadiums). Often accompanied by choirs of fans singing their hearts out, and not the obvious borrowed-from-Britain anthems and hymns (ironically, the mound occupied by the Liverpool choir at Anfield was an abbreviation of the Afrikaans word for hill — 'kopje') who mixed their adulation for the players with some rousing calls to arms in the struggle for freedom, most of which were not understood by the authorities, who rarely went to black football games during the apartheid era.
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The footballers who supported the bans on playing for dummy 'multi-racial' teams during the apartheid era. The heroes of the African game who deployed their prowess on the dusty township football parks (you could hardly call them stadiums). Often accompanied by choirs of fans singing their hearts out, and not the obvious borrowed-from-Britain anthems and hymns (ironically, the mound occupied by the Liverpool choir at Anfield was an abbreviation of the Afrikaans word for hill — 'kopje') who mixed their adulation for the players with some rousing calls to arms in the struggle for freedom, most of which were not understood by the authorities, who rarely went to black football games during the apartheid era.
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Instead the Dutch faced a frantic finale when, in the 92nd minute, Maxi Pereira ran on to a quickly taken free-kick, turned Eljero Ejia and curled a precise shot into the bottom corner of the net.
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