Dissing The Dow
Last week’s hoopla makes this a perfect time for the iconoclasts among us to ask why we care so much about the Dow, and whether it’s time to put the old average out to pasture. After all, the Dow isn’t a very accurate measure of the stock market. it’s based on only 30 blue-chip stocks. Giant General Electric counts exactly the same as woeful Woolworth. There are no Nasdaq stocks, no foreign stocks....