Standard progress indices undergo from two essential shortcomings. First, shares which might be anti-value (very costly) are usually not essentially progress shares. The choice to incorporate a inventory in a progress index ought to be based mostly on basic progress measures, similar to progress in gross sales, income, or R&D spending, quite than price-based measures. Second, when these indices are weighted by goal measures of progress, quite than by market worth, efficiency markedly improves. Overpaying for progress is unhelpful. We additionally assert that some shares with poor progress prospects and unattractive valuations could haven’t any place in both worth or progress indices.