My Smart Beta ETF Premised on Cats Rang Up an 849,751% Return

I was rich. Right?

I mean, that’s what my Bloomberg said. I’d just entered in an index built from companies with “cat” in their names -- yes, the furry felines -- hit a button and watched it back-test to an 849,751 percent return. Forget the internet, I thought. Cats are about to take over smart beta.