“‘We invest not for the quarter but for the quarter century,’ the Canadian Pension Plan Investment Board says on its site,” Ed Lin writes for Barron’s. “The pension’s board however had no problem with making stock trades in the fourth quarter that seem a bit eager for that long timeline, including buying millions of shares General Electric, General Motors, Facebook, Apple and JPMorgan Chase.”
“Facebook’s shares have eked out a 3% gain year-to-date after last year’s 53% surge. The social network is facing legal challenges and is also being tried in the court of public opinion,” Lin writes. “The pension bought 2.1 million more shares of Facebook in the fourth quarter, lifting its stake to 7 million shares.”
“The board bought 1.5 million more Apple shares to end 2017 with 10.6 million shares,” Lin writes. “The iPhone maker saw its stock surge 48% in 2017, and they tacked on another 5% so far in 2018.”
Read more in the full article here.
MacDailyNews Take: Smart move with the AAPL shares, at least.
SEE ALSO:
Warren Buffett: ‘We’ve bought more Apple than anything else’ in the last year – February 26, 2018
Apple up in early trading on Buffett’s Berkshire investment – February 15, 2018
Warren Buffett’s Berkshire Hathaway increases Apple holdings by 23.3% to 165.3 million shares – February 14, 2018