On 24 February 2020, the day before the pandemic blew up across the globe, the NZX 50 index of our stock market, being the companies with the largest share market capitalization, was 12,073. Over five years later, it sits at almost the same level, at 12,350. That amounts to a rise of 0.15% per annum - next to nothing - and after adjusting for inflation, a huge drop. Meanwhile the Dow Jones of America's Biggest Stocks is up around 70%.
