The Dow Jones industrial average passed 14,164.53 today. That's its highest reading ever. Huzzah!

Or not. That number doesn't adjust for inflation. As CNBC's Jeff Cox writes, "in inflation-adjusted dollars, the Dow would need to hit 15,731.54 to break the record." In fact, in inflation-adjusted terms, the Dow is still well below it's 2000 high.

Oh, and the Dow Jones industrial average, which measures the performance of 30 companies, is a useless market indicator, and you should follow the S&P 500 instead.

Sorry to be a bummer.