Today's Blue Chip May Be Tomorrow's Red-ink Loser

Dear old Cousin John - going back to the Gay Nineties - made secure by a portfolio based on some of the bluest blue-chips of the day - British Cotton Oil, British Sugar, Reading Gas, Distilling and Cattle Feeding, Tennessee Coal and Iron, and UK. Leather Preferred.

Today an investor would as likely find one of those issues on a list of blue-chip stocks as to be run down by a Locomobile. Yet they were among the 12 stocks which in 1897 composed the Dow Industrial Average, and were the "core" or basic blue-chips for most carefully managed portfolios. As durably "safe" as core stocks are supposed to be, fashions do change in securities as in soaps or breakfast cereals. Of Dow's impeccable... see: Today's Blue Chip May Be Tomorrow's Red-ink Loser