The Secretive Committee Behind the S&P 500

Few organizations in finance are as mysterious as the committee that oversees the S&P 500 — a group that recently decided to exclude Tesla despite the company seeming to check all the required boxes. On this episode of Trillions, Eric and Joel — along with Katherine Greifeld of Bloomberg News — speak with David Blitzer, who headed the S&P index committee from 1995 until his retirement in 2019. They discuss the Tesla tantrum, why the identities of committee members aren’t public, how the group makes decisions, criticisms of passive indexing, and even the hypothetical path Eric would need to take to get a seat at the table.

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