Dogs of the Dow; Gel Bra

[Bapopik at AOL.COM]

DOGS OF THE DOW

     From today's New York Post, 25 July 1999, pg. 59, cols. 1-2:

     The (Motley) Fools said they also recommended a modified Dogs of the Dow
method for buying stocks directly.  "Dog theory," as it is known, is a
popular tool used by professional mutual fund managers, they said.

     "Dog theory" or "Dogs of the Dow" is not in the RHHDAS, but it's also
not in Kathleen Odean's book on Wall Street slang (1988), Barron's DICTIONARY
OF FINANCE AND INVESTMENT TERMS (1995), and also not in the "newer words
faster" RANDOM HOUSE WEBSTER'S POCKET BUSINESS DICTIONARY (1997).
     I haven't checked it on Nexis, but one web site quotes a "Dogs of the
Dow" article in the 13 December 1993 BARRON'S.
     This was written by Ralph Merritt and Raymond Sammak and was posted on
Usenet, 10 July 1998:

     The idea behind the "Dogs of the Dow" strategy is to buy those DJI
companies with the lowest P/E ratios and highest dividend yields.  By doing
so, you're selecting those Dow stocks that are cheapest relative to their
peers.
     So here is the Dogs of the Dow strategy in a nutshell: at the beginning
of the year, buy equal dollar amounts of the 10 DJI stocks with the highest
dividend yields.  Hold these companies exactly one year.  At the end of the
year, adjust the portfolio to have just the current "dogs of the Dow."  What
you're doing is buying good companies when they're temporarily out of favor
and their stock prices are low.  Hopefully, you'll be selling them after
they've rebounded.  Then you simply buy the next bunch of Dow laggards.

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GEL BRA

     But enough about dogs.  The front page of the New York Post tells one to
"get set for the new gel bra."
     Page 9 describes the Ultimo, the bra with gel pads.  It's the product of
Michelle Mone of Glasgow, Scotland, and her MJM International Ltd. company.
It'll hit U. S. stores next month.

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     Also on page 59 was the Post's winner of the week, Michael Robertson:
"The 32-year old CEO of MP3.com walked away with more than $1.6 billion on
paper at the close of the money-losing firm's first day of trading."