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Tom Hudson column: Dow Jones is a useless measure

7:59 PM, May 20, 2013
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General Motors, Citigroup and AIG are not part of the club. Neither is Apple, Google nor NetFlix. None of those old economy and new economy corporate giants are members of the most exclusive and meaningless stock index, the Dow Jones Industrial Average.

The Dow may be the armchair gauge of the U.S. stock market and, by extension, the American economy. But no self-respecting financial professional points to the Dow index as an accurate expression of the health of corporate America. The Dow is not inaccurate but its limitations large even while it enjoys a revered reputation as the barometer ...

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