798                                                    23

 Standard & Poor's 500 -      
500   .     -
.  Standard & Poor's     
   , ,   -
 .   ,     , -
        Standard & Poor's Analysts Handbook,
Trade and Securities Statistics   Analysts' Handbook Supplement.

        ,
    . -    -
 ,   ,   ,    
  , ,   . -
        . -
     (National Association of Securities Dealers, NASD)
    NASDAQ    -
  ,   5000   .  -
     NASD     -
 - , ,   . NASD  
 ,  ,     
(National Market System, NMS).  ,     NASD
 ,    NMS,      .   -
        Wllshire.  -
,    Wllshire 5000,     , -
  -    ,     -
   9.     
   Barren's,        Wall Street
Journal.

       -   -
 (equal weighting).      
        -
  (price relatives)  ,   ( -
          ). ,
 ,      ,   1    -
    ,   1,3 (13/10)   
 1,1 [( 2)/20]   .    ,    -
       . ,   
  ,       (11)   -
 (2).

       -
 :

(1,3 + 1,1)/2= 1,20.

     0   100,     1  
120 (100  1,20), . .   20% (1,20 - 1). (   
     .)   -
  ()  Value Line (Value Line Composite (Arithmetic)
Index),     1635 .

 Value Line     ,  
     ,    , 
  .      -
        
   ,   '0.   