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<SPAN
class=250154113-09082004>Not to overstate the obvious, but lists like these are
dynamic; stocks enter and leave, even cease to exist. So, for any kind of
composite or other indicator to be valid over the long term, you can't just use
the current index members, or you're introducing survivorship bias, more and
more of it the longer you go back.
<SPAN
class=250154113-09082004>
<SPAN
class=250154113-09082004>There just isn't any easy way out of this. Standard
indicators have recorded historical values that were created at that time,
but it's much harder for your own composites. The only *real* answer is to build
them from index members that were current then, which isn't an easy thing to do.
It requires tracking that info down, and some way to use it when you build your
composite.
<SPAN
class=250154113-09082004>
<SPAN
class=250154113-09082004>Dave Merrill
<BLOCKQUOTE
><FONT
size=-1>Joe --I didn't realize that TC2000 had a R2000
watch list until you sent this last email. It is very interesting that
TC2000 has only 1979 entries. I will try to find out where in Limbo the
other 21 companies are and also the differences between the TC2000 list and
the one from Russell.I just tried your ticker list. I get a
count of 1979 from May 27, 2004 to today. However smoothly decreasing
numbers before that, down to 1611 on 1/3/00 and to 341 on 1/4/1984.I
am beginning to believe this drastic fall off (based mostly on the numerous
responses I received from the amibroker group). Wow!Thanks for
the help.-- Keith
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