AMEX Membership Rewards

Posted by: Roben Farzad on February 10, 2006

You almost never hear about the poor old American Stock Exchange — the forgotten Arby’s to the NYSE’s McDonald’s and Nasdaq’s BK. So much for buying the name brands: On a simple price appreciation basis, the Amex Composite index has returned 22% in the past 52 weeks, vs. 10% on the NYSE Composite index and a little over 9% on the Nasdaq Composite. The S&P 500 and Dow Jones Industrial Average, meanwhile, huffed and puffed out respective 5% and 1% gains. What’s in the AMEX index’s horsey sauce?

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Lots of oil, gold and tobacco, it turns out: The AMEX Composite Index top-20 member weightings include British American Tobacco and exotic names like Ultra Petroleum Corp, Petrofund Energy Trust and Eldorado Gold Corp (obscure-sounding, yes, but just the types of names you want in this energy-sensitive, commodities-centric market). For the record: I've got nothing but love for Arby's.

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Bloomberg Businessweek’s Ben Steverman focuses on the latest moves in financial markets and emerging trends in stocks, bonds, and funds, always with an eye toward giving readers a better understanding of the sometimes confusing and often chaotic world of money. Standard & Poor’s senior index analyst Howard Silverblatt will also provide his take on companies’ finances and the markets. Voted one of the “Top 100 Finance Blogs” in 2007.

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