Welcome to the Averages!

Intel, Microsoft and Home Depot are emblematic of what we have done right these last 25 years.
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Holy Relevance!

Wow! Great move,

Dow Jones

. And welcome to the averages to companies built by individuals who get to see the good news happen in their lifetimes.

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Message Boards.

How amazing it is that Messrs.

Gates

,

Grove

and

Marcus

get to see these important additions. These three companies,

Intel

(INTC) - Get Report

,

Microsoft

(MSFT) - Get Report

and

Home Depot

(HD) - Get Report

, built by hard-working Americans, are emblematic of what we have done right these last 25 years.

Oh sure, it will raise the bogey. These are much better companies than the ones they are replacing. They are better run, better built and have much higher price/earnings multiples.

But it was necessary if this index is to regain its relevance. More and more, money managers have stopped comparing themselves to this average. This move reasserts it as the benchmark to beat.

Wow! Two birds with one stone: great rewards for those who richly deserve it for a job well done and an index that is fitting of this new economy.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Intel and Microsoft. 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.