If indexes are at the core with modern investing, for many market watchers and industry members, S&P Dow Jones Indices has been at the heart of it. Just days after the S&P 500 topped 7,000 for the first time, the firm is saying goodbye to Howard Silverblatt, retiring after almost a half century in index operation.
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A visible and ever present figure in financial media and index work, Silverblatt taught investors key concepts for decades. From the pages of the Wall Street Journal to the screens of CNBC, he clarified important investing lessons for countless readers and viewers.
As highlighted in the S&P DJI Daily Dashboard, a daily newsletter from the S&P DJI, Mr. Silverblatt started at the company back in 1977. From his starting date to his retirement today, the S&P 500’s market cap grew from $60 billion to an aggregate market cap of $60 trillion.
Silverblatt Retires
The note’s author, Benedek Vörös, S&P DJI Director, Index Investment Strategy, further highlighted Silverblatt’s tenure, noting that the S&P 500 provided a cumulative 25,492% return with dividends since Silverblatt joined the firm.
“Howard was among the first to formalize the tracking of share repurchases following the SEC’s adoption of Rule 10b-18 in the eighties. He turned “Buyback Yield” into a household term for institutional investors, tracking their rise to a sustained trillion-dollar annual pace by the mid-2020s,” Vörös said.
“In the meantime, Howard earned his reputation as the premier authority on payouts by tracking the index’s journey to a record $700+ billion in gross dividend payments expected in 2026. That corresponds to an annualized growth rate of 7% since 1988,” he added.
VettaFi head of research Todd Rosenbluth shared his own thoughts on the esteemed industry member’s retirement.
“For my nearly 30 years working in the financial services industry, Silverblatt had the data and insights to explain market developments, earnings, dividends and more,” said Rosenbluth.
“An email from him always got my attention as it helped me to communicate to investors about ETFs, not just those tied to the market cap weighted S&P 500. Silverblatt was one of a kind and after his well-earned retirement his expertise will be missed.”
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