Change in Dow Components

Mike Panzner on the Net change in the constituent members of the Dow from the January 14, 2000 record close through earlier today…

Dow Components

Eastman Kodak      -62.22% [No longer in Dow]
General Motors      -60.74%
Intel   Corp      -60.18%
Microsoft   Corp      -51.27%
Home   Depot Inc      -41.21%
Merck   & Co      -39.47%
Intl   Paper Co      -38.47% [No longer in Dow]
Du   Pont      -36.06%
Honeywell   Intl      -31.31%
IBM      -31.19%
Alcoa   Inc      -30.83%
General   Electric      -29.46%
Coca-Cola   Co      -26.62%
Wal-Mart   Stores      -23.24%
AT&T   Inc      -21.05%
Hewlett-Packard      -18.83%
Disney   (Walt) Co      -7.43%
McDonalds   Corp      -6.35%
JPMorgan   Chase      -4.43%
******************************
Dow   Jones Indus. Avg -0.12%
******************************
Procter   & Gamble      7.72%
American   Express      19.73%
Citigroup   Inc      24.22%
Johnson&Johnson      38.18%
3M   Co      50.67%
Exxon   Mobil Corp      59.09%
Boeing   Co      80.93%
United   Tech Corp      98.52%
Caterpillar   Inc      153.77%
Altria   Group Inc      220.83%
SBC Communication [Now part of AT&T]

>

What’s amazing is that 20 of the 30 Dow Components are off their
highs, and that so many of the them are WAY OFF their 2006 highs. Of
the 20 Dow components that are below their 2000 peaks, 14 of those 20
off by more than 25%.

That is the nature of a price weighted index . . .

>

UPDATE:  October 27, 2006 11:10am

Attention Slate readers:  Be sure to also see our comparisons between the Dow vs Money Market since the market peak. You may be surprised to learn that since January 2000, cash (yes, cash) has outperformed the Dow.

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