David Blitzer

Chairman of the Index Committee
S&P Dow Jones Indices
Biography

David M. Blitzer is managing director and chairman of the Index Committee with overall responsibility for index security selection, as well as index analysis and management.

Prior to becoming Chairman of the Index Committee, Dr. Blitzer was Standard & Poor’s Chief Economist.  Before joining Standard & Poor's, he was Corporate Economist at The McGraw-Hill Companies, S&P's parent corporation.  Prior to that, he was a Senior Economic Analyst with National Economic Research Associates, Inc. and did consulting work for various government and private sector agencies including the New Jersey Department of Environmental Protection, the National Commission on Materials Policy and Natural Resources Defense Council.

Dr. Blitzer is the author of Outpacing the Pros: Using Indices to Beat Wall Street’s Savviest Money Managers, (McGraw-Hill, 2001) and What’s the Economy Trying to Tell You? Everyone’s Guide to Understanding and Profiting from the Economy, (McGraw-Hill, 1997).  In the year 2000, Dr. Blitzer was named to SmartMoney magazine’s distinguished list of the 30 most influential people in the world of investing, which ranked him seventh, and in the year 1998, Dr. Blitzer was named the nation’s top economist, receiving the Blue Chip Economic Forecasting Award for most accurately predicting the country’s leading economic indicators for four years in a row.  A well-known speaker at investing and indexing conferences, Dr. Blitzer is often quoted in the national business press, including the New York Times, Wall Street Journal, USA Today, Financial Times, and various other financial and industry publications.  He is frequently heard on local and national television and radio.

A graduate of Cornell University with a B.S. in engineering, Dr. Blitzer received his M.A. in economics from the George Washington University and his Ph.D. in economics from Columbia University.

Author Archives: David Blitzer

House Prices and Incomes

Since the S&P/Case-Shiller National Home Price index bottomed in December 2011, the national index is up 24% or 7.5% annually. While the Index is about 10% below the peak level set in July 2006, the indices for Denver and Dallas set new all-time peaks last year. Boston and Charlotte NC are both closing in on Read more […]

Data Driven Decisions Replace Forward Guidance

Since the financial crisis, the Fed gave clear signals and advance warnings about shifts in monetary policy. Even the “taper tantrum” in May, 2013 was widely heralded in advance.  Early warnings will soon be a thing of the past.  Instead the Fed will watch the economic reports and will set policy at each meeting based Read more […]

Inside the Dow: Apple

On Friday S&P Dow Jones Indices announced that Apple will be added to the Dow Jones Industrial Average after the market close on March 18th. What’s in it for Apple Apple was certainly well-known last week before the announcement that it will join the DJIA.  However, its entry into an exclusive club defined by The Read more […]

Higher Interest Rates: Why, When, How

Three issues surround the debate over the Fed and raising interest rates: why should interest rates be increased? When should they be raised and how can the Fed do it.  All three need to be resolved. Why The traditional description of Fed policy is “removing the punchbowl when the party gets good.” The Fed’s dual Read more […]

Tomorrow’s FOMC Minutes: More of the Same or Hints of Higher Rates

Fed watchers will study the FOMC minutes for hints of the next interest rate move.  However, the most important data – the January employment report – was published more than a week after the FOMC meeting. That report showed strong job growth not just in January but over the last few months as data revisions Read more […]

A Strange Century

Credit Suisse recently published their Global Investment Year Book for 2015 covering investment performance from 1900 to 2014 for 23 countries.  The results so far in the 21st century are surprising: in 19 of the 23 markets bonds and fixed income outperformed stocks from 2000 to 2014.  The four equity markets that beat fixed income Read more […]

Inside The Dow

The Dow Jones Industrial Average is the best-known stock market measure. It has the longest continuous and consistent history of any market average or index and is still going strong today. There is more to the Dow than its long history and the historic record – it is a widely followed guide to the market Read more […]

Inside the S&P 500: How Sector Weights Adjust for Oil

From May 30th 2014 to last Friday, January 9th, the energy sector in the S&P 500 was down 18.1% while the overall index was up 6.3%. As energy under-performs the overall index, its weight within the index is dropping, reducing the impact of further energy weakness on the index.  The energy sector weight is down by Read more […]

Don’t Worry About the Fed

Money is often described has having four functions: store of value, unit of account, medium of exchange and a source of anxiety.  Investors reading about the FOMC minutes published earlier this week are focused exclusively on the last function worrying about what will happen when the Fed raises interest rates.  A glance at the last Read more […]

Deflation

Times have changed: people of a certain age will remember when inflation was investors’ biggest worry, now in Europe the fear is deflation – falling prices.  The chart shows the rate of price change in the Eurozone since 2000. It has been falling steadily for over three years. With the December report out yesterday, prices Read more […]