The constituency of the Standard & Poor's 500 Index is a pretty elite bunch. As the name implies, the exclusive club really does consist of just 500 notable public companies. And while it may not be a paparazzi magnet the way it would be if a U.S. Supreme Court judge or a Green Bay Packers season ticket holder passed away and left a vacant seat behind, it certainly has its investing implications.
This time it was Charter One Financial
Replacing a bank with a leather goods specialist? You're missing the point. You may not know much about the Sara Lee
Yet the S&P promoted from within, as Coach has been, until now, a member of the S&P MidCap 400 Index. That creates a domino effect of promotions, as specialty retailer Urban Outfitters
If you own an index fund or participate in the S&P 500 through the exchange-traded Spider
But now that Coach will be getting some more attention from institutional investors, it may be worth getting up to speed on the company and its financials. The company wrapped up a solid fiscal 2004 with solid growth prospects heading into the new year. Here are some stories that we have written this year about the company's heady results:
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Longtime Fool contributor Rick Munarriz can't recall ever owning a Coach product. Then again, he's also upset that he wasn't called up to fill the void in the S&P FoolCap Index! He does not own shares in any of the companies mentioned in this story.