Dow Jones has changed his
In the most
famous and conservative stock index in the world has undergone unexpected changes. Index
Dow Jones Industrial Average had parted company with Altria and Honeywell, and called in
their ranks Bank of America and Chevron. Editors index explain their actions so that the
barometer ceased to show good weather at home.
Since in 1896, financier Charles Dow invented the index Dow Jones, he is one of the most
conservative. Americans do not like to tell, by what criteria it is formed. This is
something like the secret Coca-Cola: he seems to be kept a closely guarded, but in fact
the drink is known to all. "We do not have any pre-defined criteria for inclusion or
removal of shares from the index, - says the editor of the family of indices Dow Jones,
John Prestbo - although we insist that the company, which is included in the index was of
American origin and has been a leader in its industry" . Holding Altria, a unit which
includes tobacco company Philip Morris and Food Kraft Foods, a leader in its segment to be
stopped. Honeywell has been manufacturing navigation systems, the company also lost its
leadership.
Instead of these securities in the index appeared Bank of America and Chevron. The editors
explain that this is a direct reflection of changes in the American economy. The banking
sector now stand heroically financial crisis and the role of oil and gas in the world are
growing, stressed in a press release, Dow Jones.
Now Industrial Average index of 30 companies, all of which are international, have offices
around the world. "These 30 papers did not accurately reflect what actually happens
in the U.S. economy, in contrast to, for example, the index S & P-500". Last
year, it frequently happened that the S & P-500 fell, and the Industrial Average, by
contrast, grew up. This situation is misleading investors.
But indexes are needed not only to investors in order to find out which way to go market.
They were invented as to make it easier for investors to life: thousands of funds geared
to the indexes when it makes its investment portfolio. They simply copy the code. Let a
headache for the investor, and the organizers of any stock barometer will take care of
that paper in the index were reliable and profitable.
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