more on the 'the dow is a stupid index'
they booted out alcoa last year - it has doubled since, compared to a 17% gain for the dow.
this happens almost every time. The classic was when they added Microsoft and Intel in 1999. Hah.
Groucho Marx didn’t want to join a club that would accept him as a member. Alcoa Inc. was better off after getting booted from one that no longer wanted it.
Shareholders have laughed all the way to the bank since the aluminum producer’s expulsion—by a committee that includes editors of The Wall Street Journal—from the venerable Dow Jones Industrial Average was announced in September 2013. The stock has doubled compared with a 17% gain for the Dow industrials, after trailing the index by 25 percentage points in the previous 12 months.
And how exactly did being removed from the Dow impact Alcoa?