Re: Intelligent Investor - Ch. 3
[ QUOTE ]
Dow was only 161 in 1949 and it is over 11.000 this year.
[/ QUOTE ]
Doesn't the makeup of the DJIA change? So wouldn't a direct comparison be inaccurate + you need to readjust for inflation, or are the indices already readjusted (if so, by what metric?)?
|