CalPERS, the countries largest public pension fund, has announced that it is taking a stand against gun violence by divesting its huge investment portfolio of shares and other investments in Smith & Wesson Holding Corp. and Sturm, Ruger & Co. The sale amounts to a $5 million position consisting of equities and other investments.
Apparently, these folks feel that Smith & Wesson Holding Corp and Ruger & Co. manufacture “Saturday Night Specials, which are illegal in California.” The move appears to be political and it’s unlikely that it will have a bearing on the financial health of the companies affected.
Opportunity knocks but once and this may very well be just that. Both Smith & Wesson and Ruger should be considering a stock buyback at what may be a lower than market selling price.
FOG HORN 