Reply #16: That's not what I'm contesting you on... [View All]

[Sammy Pepys]

You said this:

If I wanted to purchase one share from each of the listed stocks used to calculate the DOW it would cost me the point value (ignoring the commissions). How much money would I have spent on January 2000? 11722.

You would have not paid anything close to $11,722 for one share each of all 30 DJIA components at any point in January 2000, just as you would not pay approx 12,000 for one share of all 30 if you bought them all right now. The DJIA has never been calculated by simply taking the sum of all the share prices in the index (I don't think there is any index out there that does that). So there is a big problem with your hypothesis.