Tuesday, March 12, 2013

Cool It: The Dow's New Highs Are Just A Marketing Tool

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…

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