Massive Finnish pension fund unloads U.S. stocks because... Donald Trump

[TexasTowelie]

That’s the rationale CEO Risto Murto of the Varma Mutual Pension Insurance Co. used in a recent interview to explain why the biggest private-sector pension fund in Finland is trimming U.S. stocks in its $53-billion portfolio, according to Bloomberg.

“If I look at what is the moral and practical power, there is no longer a traditional president,” Murto said. “The lesson from 2008 is that if we have a problem in the U.S., then we all have a problem.”

Specifically, he pointed to Trump’s response to Charlottesville as a “breaking point if you look at how business leaders reacted.”

The fund cut its equity weight by 5% in the second quarter, Bloomberg reported, raising cash mostly by trimming U.S. stocks.

Read more: http://www.marketwatch.com/story/massive-finnish-pension-fund-unloads-us-stocks-because-donald-trump-2017-08-28

[bronxiteforever]

1. K & R for visibility. This is an important development

It makes your head spin thinking about all the consequences there will arise during the 2 scoops Presidency.

[RKP5637]

2. K&R!!! n/t

[SharonClark]

3. What is the following in reference to?

“The lesson from 2008 is that if we have a problem in the U.S., then we all have a problem.”

[Sanity Claws]

4. Economic crash

Many European countries had invested in the US, including derivatives. When the US crashed, it was felt everywhere.

[c-rational]

5. This is concerning for all. We have debt ceiling issue pending, a budget that does not need to go

to the wire and an imbecilic president. My accountant, a CPA pulled her retirement funds out of the market several weeks ago with the N Korea issue. We have manic child-man in the oval office who is self centered and vindictive and a Rethug party that puts party before country. I want my country back.

[karynnj]

6. This shows you what a difference a year makes -- from Obama to Trump

I remembered having watched the State Department coverage of a working lunch with Nordic leaders. To say that the relationship between all those countries and the US was close and very friendly would have been an unstatement.

In particular, here are the words of the Finnish President:

PRESIDENT NIINISTO: Secretary Kerry, ladies and gentlemen, we Nordics consider the U.S. as an essential partner in foreign and security policy. We have a lot to contribute for peace, prosperity, and freedom in our own region, in Europe, and globally, and we do contribute. We are here to contribute. And, well, you felt a bit sorry that we had no possibility of watching the Eurozone contest. Don’t worry, at least for Finns it’s all clear – we are not qualified. (Laughter.)

I also want to thank you personally for your determination in pursuing political solutions to a multitude of crises around the world. In Finnish we have a word for extraordinary stamina and determination. The word is sisu. The way which you have negotiated for peace in the Middle East, the nuclear deal with Iran, and your persistent efforts to end the civil war in Syria witness you of sisu. Are you, by the way, sure, Mr. Secretary, that you don’t have some Finnish ancestor? (Laughter.)

I want to raise my glass for the deep and broad friendship and cooperation, and understanding that during your Scandinavia visit you learned all the essential; that is, skal. (Laughter.)

Here is a link to the all the speeches, which are a fun, but sad given the present reality, read, from which this is extracted. https://2009-2017.state.gov/secretary/remarks/2016/05/257193.htm


It is so sad to remember how engaged and loved the US was just a year ago.