Citigroup and General Motors were removed from the Dow Jones Industrial Average today.(Historical note: "By replacing GM with Cisco, Dow Jones & Co. has removed automakers from the best-known benchmark for U.S. stocks, saying in an e-mailed statement that computers are as central to the economy as cars were in the previous century.") Markets being what they are, though, you can totally spin this as good news: "when stocks are deleted from the Dow Jones Industrial Average, they often outperform the ones that replace them." So fuck Cisco and Travelers; savvy investors should go deep on the world's largest bankrupt automobile company-look how quickly things turned around for Chrysler!-and what used to be the world's largest financial firm (currently $3.70 a share, which is much better than back in March, when it was trading below a buck). The market as a whole is currently way up, because, you know, everything's better now!
Monday, June 1, 2009
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Why are you not writing for "The Business Insider"? You're much more entertaining with spinning BS, which is apparently all it takes to post there.
http://www.100abandonedhouses.com/