Removed from S&P 500
E.g., $FBIN – Fortune Brands Innovations Inc? Below is from Google Search Labs | AI Overview
Fortune Brands Innovations, Inc. (FBIN) was not removed from the S&P 500, but it did separate from its parent company and change its name:
Fortune Brands Home and Security
On October 3, 2011, FBIN separated from Fortune Brands and became Fortune Brands Home and Security.
Fortune Brands Innovations
On December 14, 2022, FBIN separated from MasterBrand Cabinets to take on its current structure.
Spin-off
On April 28, 2022, Fortune Brands announced plans to separate into two publicly traded companies through a tax-free spin-off of the Cabinets business. The new Cabinets company is called MasterBrand, Inc.
My comment: the above comment “(FBIN) was not removed from the S&P 500” is not entirely accurate, it’s now in S&P 400 mid cap index. Refer to First Solar Set to Join S&P 500; Fortune Brands Innovations to Join S&P MidCap 400; MasterBrand to Join S&P SmallCap 600 for more details.
It seems many other stocks did well after being removed from S&P 500 index. I haven’t done research on it though – comparing the performance of stocks got into S&P 500 index vs the stocks being removed from S&P 500 index. Quoting Google Search Labs | AI Overview below:
Yes, research indicates that while stocks added to the S&P 500 index often experience a short-term price increase due to increased buying from index funds, studies suggest that over time, stocks removed from the index may actually outperform those added, potentially because they become undervalued due to the immediate selling pressure when removed; this phenomenon is often referred to as the “index effect.”.
Layoff
For me personally, at least in early 2019. I got the extra money (severance pay) to buy the house that my wife liked; also, find something may work out better (or at least try new things). For me, I got a software architect job (both blessing and curse). I recall an old gentleman (who has since moved away) said the exact words (the title) to me around at time. But there are always silver lines and personally I survived 8 years of George W Bush and 4 years of Trump 45.
Probably good to elaborate here, for people who worked at a company for an industry for a while, sometimes it’s good to step back and have a fresh perspective: if the economy situation allows.
The election results
I know for the progressives (myself included), this Nov 5 election results are hard to swallow.
Sharon Stone Says America Is ‘Naive and Ignorant and Arrogant’ After Donald Trump Win: ‘My Country Is in the Midst of Adolescence’ Back in July, Stone told The Daily Mail that she “considering” buying a house in Italy if Trump won the election because “this is one of the first times in my life that I’ve actually seen anyone running for office on a platform of hate and oppression.’ || But I don’t think that’s a viable solution for many ordinary people. I did meet a older gentleman who told me he is going to travel the world and stay in South Africa for good, when I was driving Uber near STL airport.
Sharon Stone Says “Ignorant” and “Uneducated” Americans to Blame for Trump Re-Election
Also, I saw this CNN video on YT – ‘I have some very bad news for you’: Expert to Trump voters who want lower prices
Trump tariffs would increase the price of cars made by US automakers by over $2K: Wells Fargo
Odds and Ends
I realized about 18 years ago (year 2006) that I worked a bit on Thanksgiving Day because I was just myself at my condo. And today I am going to do a little bit of that too (not Uber, computer work instead, as my girls said no Uber driving today).