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The DOW makes no sense being based on stock price weight. that is meaningless. they need to change this to be more like the s&p but with 30 companies. bac/aa/ford, etc. has no influence on the dow anymore but companies like ibm, mcd, move the dow.
never made sense; just a tradition, already; maybe obsolete? remember the Dow 30 is JUST an indicator, NOUGHT an absolute; S&P500 index better indicator!! i look at and use BOTH..
It doesn't matter if it makes sense or not. They can't change it. If they do, they would have changed the definition of Dow and screw up the continuity of the index.