When Dow Jones announced its decision to replace Altria (MO) and Honeywell (HON) with Bank of America (BAC) and Chevron (CVX) today, the brand now owned by News Corp (NWS) totally blew its opportunity to modernize the Dow Jones Industrial Average Index (DJIA/DIA/DDM). The price weighted DJIA is just plain out of touch with today's investors and professional money managers.
I will be on Fox Business Network's Happy Hour - also owned by NWS - tonight to discuss with my friend and the show's co-host Cody Willard what NWS needs to do to make the DJIA relevant once again. The show airs at 5PM EDT and is repeated at 11PM EDT.
At the time of this Blog entry Scott Rothbort, his family and or clients of LakeView Asset Management, LLC were long shares of BAC and DDM--- although positions can change at any time.