We watch one professional football game during the year at our house. We watch several college games and all of our boys little league games. When deciding who to cheer for this weekend I was leaning toward the Cardinals just because a friend lives in their town and I’m not really close to anyone from Pittsburgh. (In fact the only name from Pittsburgh that comes to mind is a certain con-man named Joe who stole a lot of money from his Congressional wife. Montoursville would be a different story.)
But then Schneider Downs Wealth Management of Pittsburgh sent out a press release which has been picked up all over the Net about how the S&P500 does really well during years when the Steelers win. They do include a disclaimer – –
“It never hurts to be positive,” explained Ms. Skeans. “However, the reality is that the performance of the S&P 500 is influenced by numerous factors, none of which involve football. I think it’s likely that this year’s market performance will be much more heavily influenced by fundamental factors and by the restoration of confidence in financial markets around the world. Investors eventually will return to the equity markets in search of long-term profit in light of the significant sell-off that has occurred, rather than the number of yards Willie Parker gains in the game.
Still I find it interesting that a Pittsburgh company would play on financial fears in order to garner more fans. I wonder if they have any data on whether the good vibes from having more people cheering for their team has any real effect on play.
In any case, I’m looking forward the advertisements.