Read the WSJ article "Some Frank Talk About That $$Index Fund$$ of Yours $-$ Economic theory recommends: Buy everything. That means going far beyond an S&P $500$ index fund" or access the PDF file here.

Briefly discuss one of the following two questions.

Q$1.$ Do you agree with the article that we should not use the S&P $500$ Index as the $$market index$?$

Q$2.$ To calculate the market return, which index would you prefer, the S&P $500$ Index $($covering approximately $80\%$ of available market capitalization$),$ or the Wilshire $5000$ Total Market Index $($measuring all U$.$S$.$ equity securities with readily available price data$)?$