Thanks for your help and insight!


" wrote:

"Don Guillett" wrote:
From my file that you cited in your tirade.

It was intended as a heads-up to the casual reader, not
a "tirade".

Yahoo CSV info on the Data page.
Date [...] Close [...] Adj. Close*
12/12/2005 [...] 29.97 [...] 29.97
12/9/2005 [...] 29.92 [...] 29.84

Demonstrating my point. There should be no difference
between close and adjusted close on those dates, if you
expect adjustments to reflect only splits and similar
exchanges due to spinoffs etc. Yahoo's adjustment on
12/9/2005 and earlier (until the next event) is the $0.08
dividend on 12/12/2005. You would see this if you looked
at the Yahoo historical quotes online.

I know that some people include dividends when
determining cumulative "total returns". I did not think
analysts include dividends in adjusted prices when
determining "average return" and especially "volatility".