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SOURCE:
California pension fund to divest from gunmakers


California pension fund to divest from gunmakers
SAN FRANCISCO (Reuters) - California's pension fund for teachers made official on Friday its plan to divest holdings in firearms companies whose weapons are illegal in the state.


The California State Teachers' Retirement System will now sell holdings in two publicly traded gunmakers Sturm, Ruger & Co and Smith & Wesson Holding Corp. The investments are worth about $3 million.


The divestment plan has been in play since January at the $161.5 billion pension fund after State Treasurer Bill Lockyer advanced it in response to the mass shooting at the Sandy Hook Elementary School in Connecticut in December.
Lockyer sits on the board of the fund, best known as Calstrs, and also pressed it to divest holdings in manufacturers of high-capacity ammunition magazines that are illegal for the general public in California.


The Sandy Hook Elementary School shooting involved a type of semi-automatic rifle banned in California and sparked a national debate regarding gun control with some pension funds flexing their financial clout to weigh in on the issue.
Lockyer also sits on the board of the California Public Employees' Retirement System, the biggest U.S. public pension fund. Its investment committee voted in February to divest holdings in Sturm Ruger and Smith & Wesson in a move affecting about $5 million in investments.
 

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Gee I hope they invest in some GREEN INDUSTRY.... that will show them a real RETURN on the investment!!! Maybe the potus will select one for them!!
 

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So am I getting this right the anti gun Californians are investing in gun company's ?
They were but no more, give them six months before they cry the blues. WHAT ABOUT THE CHILDREN!!!!!!!!!!:p
 
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Considering how well those stocks have performed since Obama took office, the pension fund should be in good shape. That won't last long. Well, it is their right to do so.
 

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One thing you can count on from the liberal left, whenever there is a financial decision to be made, they go against their own best interests. Too bad so much of the time, they are using OUR money to do this. Socialism works until you run out of other peoples money.
 

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Considering how well those stocks have performed since Obama took office, the pension fund should be in good shape. That won't last long. Well, it is their right to do so.
No kidding. S&W shares have not quite doubled since 2009 to $9 per, and Ruger, OMG, shares have jumped about 500% to around $50 in that time. Surprise, surprise, Ruger has twice the market cap that Smith has. Between the two of them, their combined market cap is over $1.5 billion. Three million in shares hitting the market's not much of a dent. CA's other public retirement system, CALPERS, already bailed on the two to $5 million back in February. Why is this news?
 

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I would not expect them to do anything the right way...Always bass ackwards..
 

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No surprise there. Kalifonia is just doing everything it can to shoot themselves in the foot. Good. As for S&W and Ruger, I left them when both companies bowed down to klinton, and will never return. They'll not be affected in any way.
 

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I say its fair!
what comes around goes around!
I have been talking to our city firemens Pension board members (3 of which are retired firemen)for the last 7-8 years and encouraging them to never invest any of our fund money in Electric cars, wind turbines ,or solar farms.
and from what i read we are well ahead of the Kalifornia pension board.
 

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Has Cali shown any profit in any financial plans they've laid out since the 70's? let them bail out of it all they want, and when their current batch of new investments tank and they start seeing lower returns, maybe it might open their eyes... Who am I kidding, they'll take the loss for "the kids".
 
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Really who cares if the sell off the gun stocks?

And if they do so at a major loss the trustees amy have a big problem

AFS
 

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Maybe they can follow the lead of other "progressive" west coast pension funds and put the entire ball of cash into ENRON!

Wait, too late. . . .
 
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It's my sincere wish that California, and all its citizens be returned to Mexico....
Maybe if we have another Spanish American war the loser will have to take Kalifornia?
OK! somebody throw a shoe at the Mexican President!!
OH and if we have a member from Kalifornia don't get all hunched up in the back about this, we like you its the others that we don't care for.
SEE! now I can be politically correct when i want to!
 
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