The Way We Were

I was appointed the finance correspondent for Senior Life Advisor, an online magazine for investors near or in retirement. The articles for Senior Life Advisor were designed to offer actionable information as well as items of interest about economics, investing and personal finance.

The Dow Jones Industrial Average consists of 30 stocks that, in general, represent the composition of the U.S. economy.  Looking at the components over time can offer some interesting insights about how our economy has evolved.  

For instance, in 1884, all but one of the components was a railroad company.  Today there isn’t a single railroad company in the Dow.  

In 1956, the Dow was composed of heavy industries such as Bethlehem Steel and Union Carbide, and just one retailer, F.W. Woolworth.  There was not a single healthcare company, and Chrysler, which was a Dow denizen in 1956 is now owned by Italian automaker Fiat.  

Today, the largest company on the Dow is Apple, a consumer products and tech company, followed closely by Microsoft, a software company.  Healthcare is large component with Merck, Pfizer Johnson & Johnson and United Healthcare.  And in what might be the clearest example of how our economy has changed, General Electric, once the largest industrial company in the United States was unceremoniously removed from the Dow in June of 2018. 


Dow Jones Components

More Posts

5 Special Situation Stocks for Growth & Income

This article was written with Louis Navellier, founder and chief investment officer of asset manager Navellier & Associates. It was part of a series of articles developed under an agreement with Kiplinger negotiated by me to designate Mr. Navellier as a contributor and to deliver original articles for them on a regular basis.

Read More »

More RIA Consolidation Ahead

This is an editorial I wrote for Advisor Perspectives concerning the increasingly prominent role private equity capital plays in the RIA M&A landscape which was highlighted in a 2023 M&A conference held by Gladstone Associates.

Read More »
Scroll to Top