Interesting piece from Bespoke Investment Group about the S&P 500
(Bespoke Investment Group) As expected, Standard and Poor's announced today that Fannie Mae (FNM) and Freddie Mac (FRE) would be removed from the S&P 500 effective September 10th after the close. In their place, Salesforce.com (CRM) and Fastenal (FAST) will be added after the close on September 12th. Besides the fact that the additions will not take place until two days after the two stocks being removed will be taken out (Will it be the S&P 498 for two days?), there are other inconsistencies with the reasoning surrounding the removals.
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