From Bankers Anonymous/ BI: The Dow Jones Industrial Average
(DJIA) hit an all-time high last week, an event as inevitable as it is
fundamentally meaningless to everyone not currently employed by Rupert
Murdoch’s News Corporation, the owner of the Dow Jones & Co, inventor and
keeper of the DJIA flame.
Remember, first of all, the Dow is a marketing tool. That is to say, I don’t blame the Wall Street Journal for
crowing about a new arbitrary number on their Index, as the Dow is, after all,
all about marketing. The Dow Jones’
upward move provides a marketing opportunity for the News Corporation’s media
property and its media affiliates. No
criticism there.
What is a shame, however, is that the plurality of the
investing public who follow the market may not realize that the new high on the
Dow means as much as an Onion article…
No comments:
Post a Comment