Michael Wursthorn

speaker

1,567 appearances 29 recordings 1 series first heard Jul 2017 last heard Nov 2021

Michael Wursthorn’s voice in public audio — every appearance, attributed to the second.

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Appearances

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WSJ Your Money Briefing · Trade Tensions Driving Investors From U.S. Stocks · 27 Jul 2018 podcast

Confidence is very fickle right now among investors. voice-verified

And it doesn't really take much to just lead to another stretch like we saw from February to now, where stocks really just struggle. voice-verified

WSJ Your Money Briefing · Dow 30: GE Out, Walgreens In. Why it Matters. · 21 Jun 2018 podcast

So it's a group that's created by an index, an index committee, and their goal is to choose 30 stocks that are representative of the U.S. voice-verified

economy as well as the stock market. voice-verified

That list changes. voice-verified

It's not based on, say, quantitative measures like the S&P 500. voice-verified

So it's largely at the discretion of this committee. voice-verified

But they do try to adhere to some simple principles, and that is they don't want the makeup to drift too far from sort of where the economy is now. voice-verified

So that's why you've seen over the last several years the shift away from industrials more toward technology. voice-verified

and a focus, too, in some cases on, say, consumer, such as with the recent addition of Walgreens. voice-verified

But it's supposed to be a pretty close representation of just sort of how the broader U.S. voice-verified

is functioning and moving ahead. voice-verified

There's in fact been, I believe, 51 changes to the Dow Industrial since it was founded in 1896. voice-verified

The most recent one before GE was in 2015 when Apple replaced AT&T. voice-verified

So it's common. voice-verified

And if anything, over the last several years, you've seen the pace of the changes pick up a bit. voice-verified

And they're not just when it comes to whether or not a company is maybe in bankruptcy or is going through a merger and acquisition. voice-verified

You've seen these changes happen just because of whether there may be something fundamentally shifting within the company itself. voice-verified

It was a continuous member since 1907, but in fact, it was one of the original 12 members when the index was created in 1896. voice-verified

It fell out, came back in, and what led to this most recent expulsion is the fact that GE, since especially last year, has gone through an incredible transformation and attempt to right its business. voice-verified

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