Obama is typically referred to as the Gun Salesman Of The Year, and I often wonder in posts whether he has a financial stake in gun companies. Well, it turns out he does
(Reuters) Barack Obama might seem an unlikely investor in the firearms industry. But the U.S. president, a fierce advocate for gun regulation, has money in a pension fund that holds stock in gun and ammunition companies.
Although Obama’s stake is minuscule, worth no more than $30, it reflects a much larger surge of investment.
The president is among millions of Americans buying into gun companies – often unwittingly – as mutual funds have increased such holdings to record levels, according to a Reuters analysis of institutional investment in firearms companies.
OK, let’s be clear and honest: Obama didn’t voluntarily go out and purchase stock in a gun company, and, it does represent a tiny holding. He could, though, easily give up his investment in the pension and invest in ones that do not have gun companies (BTW, why does any elected official have a pension? That’s always annoyed me). More importantly
Since Obama was elected in 2009, mutual funds have raised their stakes to about $510 million from $30 million in the nation’s two largest gun manufacturers with publicly traded shares, Smith & Wesson Corp and Sturm, Ruger & Co . That means such stocks are now common in retirement and college savings plans.
The influx has helped to boost both companies’ shares by more than 750 percent during the Obama presidency; each now has a market value of about $1 billion.
Amazing. Obama and Democrats have railed against guns, and made them and the gun companies more valuable, and more and more funds, pensions, etc., are including gun and ammo companies in their portfolios.
What’s more, many anti-gun Congressional Democrats and anti-gun advocates also have holdings in different funds types that include gun and ammunition companies, many for which they could easily divest and choose other funds. But, they don’t, because these funds have too great a rate of return.
Maybe that has been Obama’s play all along. Frighten working class patriots into giving their hard-earned money to millionaire arms manufacturers all the while planning to turn his $30 blind investment into millions!
Some activists hold one share in a controversial company simply to be able to attend stockholders meetings
Actually also Teach both companies you mentioned have NOT done much better than the Dow has done over the same period
Perhaps you have forgotten that 90 days after Obama’s inauguration in 2009 the stock market had collapsed to 6500
But after passage of Stimulus the Diw began to go up and now is at over 16000
No POTUS has achieved anything close
As I understand it, upon taking office Presidents are required to put their stock portfolios into a blind trust. Otherwise there is too much temptation to make decisions based on what can increase the personal wealth of the president as opposed to theoretically making decisions based on the best interest of the country (and within the law.)
I think this is a case of irony, but Obama gets a pass on it.
Jeff,
As I understand it, you are a very wealthy drug producer, so your comment can be used to scorn you for taking money from little people to enrich yourself. You are a horrible person. By the way, why do you charge so much for medication? No other country has to pay as much for their drugs, but people like you charge excessively and we all have to suffer.
John,
There is no other way to describe you comment other than crap. Do you realize that you turn more people to conservative thought than win them over to your dark side with your stupidity?
Jeff,
As I understand it, you are a very wealthy drug producer, so your comment can be used to scorn you for taking money from little people to enrich yourself. You are a horrible person. By the way, why do you charge so much for medication? No other country has to pay as much for their drugs, but people like you charge excessively and we all have to suffer.
John,
There is no other way to describe your comment other than crap. Do you realize that you turn more people to conservative thought than win them over to your dark side with your stupidity?
dave,
Not nearly so wealthy as you, who pay $400,000 a year in federal taxes meaning you make well over $1,000,000 a year as a physician. What specialty? Did you ever accept Medicare or Medicaid or state healthcare patients?