Hey, Dow Pickers: Boot Philip Morris, Add Cisco - TheStreet

Hey, Dow Pickers: Boot Philip Morris, Add Cisco

The networker represents the Internet economy better than anyone else, Cramer says.
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Okay, one more

Dow

change, and I will shut up. It is time to boot

Philip Morris

(MO) - Get Report

, which has all the earmarks of a

Johns Manville

, and substitute

Cisco

(CSCO) - Get Report

.

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Maybe

AOL

(AOL)

is too young to go in -- let alone

Yahoo!

(YHOO)

-- but Cisco makes a lot more sense as a barometer of the market than lawsuit-plagued MO.

We all know that if this Florida raid lives up to expectations, there are 49 other quality lawsuits ready to roll against

big tobacco. We also know that now that the

Nasdaq

barrier has been broken, what is the point of keeping MO in when you already have

Coke

(KO) - Get Report

?

Why Cisco? It represents the Internet economy better than any one Internet company. While it is a young company, it is only older than Mister Softee by a couple of years. It is far more representative of the U.S. economy in 2000 than any other company in the Dow except the two newbies.

So, let's complete the sweep. Don't wait another two years for the change. We want Cisco now, and we want the Dow Jones to be a no-smoking area -- when it comes to butts, of course.

Random musings:

I am getting fed up with this threatening British guy in the commercial trying to scare me into using

PeopleSoft

(PSFT)

software. Give me a break already.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Microsoft, Cisco, Coca-Cola, America Online and Yahoo!. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at

jjcletters@thestreet.com.