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Pittsburgh CPA firm makes Super Bowl history
Posted by accountingweb on
The wealth management team of IGAF Worldwide independent member firm Schneider Downs (Pittsburgh, PA) discovered a fascinating statistic when researching Super Bowl trends and the economy: since the Super Bowl's inception in 1967, the S&P 500 has had an average annual return of nine percent in the years that a team other than the Pittsburgh Steelers won the Super Bowl. However, in years where the Steelers won, the market jumped - up 37% in 1975, 24% in 1976, 18% in 1979, 33% in 1980, and 16% in 2006.
The statistics prompted a great deal of interest around the nation - including a prominent television interview for one of the wealth management group's leaders, as well as the attached chart (attributed to Schneider Downs) that ran on the front page of the MONEY Section of USA Today.