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The Slim Fast Diet

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I may gain weight on this diet!

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"I'm fatter, er, flattered!" --Professor Sherman Klump

CSFB was out with a report last night highlighting that Standard & Poor's will be shifting the S&P500, MidCap, and SmallCap indices to a free float-adjusted weighting scheme over the next 18 months (indices are currently weighted by mkt cap).

They anticipate that this will have a significant impact as over $75 billion (yes, with a "B") worth of stock will be traded when managers adjust their portfolios. They also opine that consumer staples are likely to see their index weighting decrease and experience net selling pressure as a result. They cite, as an example, Wal-Mart (WMT:NYSE). Roughly 39% of Wal-Mart shares are held by insiders and they expect a significant change to its weighting in the S&P 500.

Something to toss on the radar as we trudge ahead through the muck.

R.P.

No positions in stocks mentioned.

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

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