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Technology Stocks : Leap Wireless International (LWIN)
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To: pcstel who wrote (1506)2/22/2002 8:04:35 PM
From: Wyätt Gwyön  Read Replies (1) of 2737
 
we un-delisted all of the NASDAQ dot.bomb and other tech companies that have gone BK in the last 2 years, and assigned them the share price on the Pink Sheets and we were using price-weighted averaging like the DOW

i don't really know how that would work out, but keep in mind that many of these stocks got delisted because they were trading under a dollar already (i believe the Naz has a rule that an index stock can't trade under $1 for some period like 30 days; if it does, it gets delisted), so they probably wouldn't have that much downside left and would already have "done their damage" to the index.

the DOW index's mindshare notwithstanding, it is not the key index most professional investors care about (partly because of its funky price-weighted basis [which is a function of its being such an old index, from the days where they had to calculate the thing by hand], and partly because it only contains 30 stocks [another function of its age]); rather, the index institutional investors care about most is the S&P500, which happens to be cap-weighted like the Nasdaq. the broadest index, also cap-weighted, is the Wilshire 5000, which despite its name contains about 7000 US stocks.

i think a comparison of the COMPX with the SPX or the Wilshire 5K is pretty apples to apples.
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