Word: prestbo
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...necessarily. Because adjustments are made for the higher prices of stocks added to the list, don't look for any immediate jump. And there's no guarantee that the newly added companies will continue to do well or that others on the list won't hit hard times. Prestbo warns, "Moving companies in and out of the Dow is not the same as a buy-sell decision." Consider IBM, which was dropped in 1939 but went on to post 29 stock splits and rise 21,843% before being added back...
...debatable whether any 30-stock average can accurately reflect a diverse and changing economy. Most market pros prefer Standard & Poor's 500 index. But John Prestbo, markets editor at the Wall Street Journal, says he is committed...
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