via Wall Street Journal
The Dow Jones Industrial Average turns 120 years old this month, on May 26.
For 20 of those years it was my privilege to be “keeper of the Dow”—the staff person who watched over the globally famous index to make sure it kept on ticking. Not that I alone made the decisions about putting companies in or taking them out, but I had a vote. And sometimes I called the huddle to take such actions.
Along the way, I learned some interesting things that many others don’t know about this icon of the investment world. Here are my top 10:
1. The DJIA isn’t the longest-running index in the world. That distinction belongs to the Dow Jones Transportation Average. Charles Dow, founding editor of The Wall Street Journal who created these indexes, began with a railroad index in 1884, 12 years before the industrial average launched in 1896..