A large watchlist makes it difficult to learn more about the individual companies on the list. Knowing the companies you invest in is the first step to becoming a successful investor.
The DOW is composed of 30 blue chip companies. This makes it is easier to follow the individual companies -- i.e. following their news events, economic events, announcements, etc. Furthermore these companies are stable; so you will not have to worry too much about violent price movements.
Also, most of these companies pay dividends. This would allow you to gain some income while educating yourself to become a better investor. If you are luck you might even get some price appreciation along with the dividends.
The DOW components are also from different sectors. So if you prefer a company from a particular sector you will have a company that fits your need.
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