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That is true of capitalization-weighted indices such as the FTSE 100 and the S&P 500 as well. When a declining company drops below the top 100 or 500 or whatever it is replaced by an up-and-coming company.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma
by Migeru (migeru at eurotrib dot com) on Thu Aug 20th, 2009 at 05:36:50 PM EST
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