Monday, September 23, 2013

The Dow Jones "Industrial" Average

 Oh, just precious.    Look at the nature of our New Industry just makes so much sense.

Take away "real" businesses (at least Alcoa and HP), and replace them with money changers doing "Gods Work"

Nike, Visa and Goldman Sachs debuted Monday as components of the Dow Jones industrial average, replacing Alcoa, Hewlett-Packard and Bank of America in Wall Street's best known stock market index.

The change, which was effective at the start of Monday's trading session, was the biggest in the closely watched index in nearly 10 years.

S&P Dow Jones Indices announced on Sept. 10 that it was going to shake up the world's most famous stock market gauge.

This isn't just a sign of the times.    Its a reminder that those pimping financial products always point out the returns over time.   However these index returns over time are warped because they kick out the dogs and put in the hot new stocks.      But buy and hold doesn't get the benefits of that, but on paper it sure looks good.

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