The Scandinavian nations are typically dismissed as various incarnations of Socialist hell but that isn't shown by their financials when they have the healthiest pension system for their people then possibly anywhere else in the world. (CNN: This pension fund is now worth $1,000,000,000,000)
I was surprised even when I know those nations do well but this item is astounding.
"The growth in the fund's market value has been stunning," fund chief Yngve Slyngstad said in a statement. "I don't think anyone expected the fund to ever reach $1 trillion when the first transfer of oil revenue was made in May 1996."
For comparison: $1 trillion is roughly the size of Mexico's economy.
Norway is a major oil producer, and it has plowed its energy earnings into the fund in order to fund pensions and other government expenses.
The fund is among the world's biggest investors in stocks, owning $667 billion worth of shares in over 9,000 companies globally. It owns on average 1.3% of all listed companies worldwide.
Its largest holdings are in Apple (AAPL, Tech30), Nestle (NSRGF), Royal Dutch Shell (RDSA), Novartis (NVS), Microsoft (MSFT, Tech30) and Alphabet (GOOGL, Tech30), the owner of Google.
- CNN
The value of the pension fund is incredible but the stunning amazement at the Rockhouse is it only took them twenty years to do it.
You know the editorial already since Big Oil hates the idea and therefore it's bad. Trying to defeat that on any logical basis is pointless so I figure ...
Zen Yogi: just say fuck it and keep on moving?
Yep, that's what I figure, Yogi.
I'm content to marvel at what they accomplished.
The fund has generated an annual return of 5.9 % since January 1998, a figure that is reduced to 4% when management costs and inflation are included. In 2016, it clocked a 6.9% return worth 447 billion Norwegian kroner ($57 billion).
This year is shaping to be even more prosperous. The fund made 499 billion kroner ($63 billion) in just the first two quarters of 2017.
The fund's value works out to over $190,000 for each of Norway's 5.2 million citizens.
- CNN
Zen Yogi: I guess you should have been born in Norway, mate
Dunno, Yogi, since I've hated cold ever since Australia. Something which could be gratifying would be transporting some opponents to the so-called Socialist Hell so they can live it for a while.
Zen Yogi: is that a clever segue to international learning programs?
It is now, Yogi, since anyone's frame of reference will be improved by an international perspective.
I was surprised even when I know those nations do well but this item is astounding.
"The growth in the fund's market value has been stunning," fund chief Yngve Slyngstad said in a statement. "I don't think anyone expected the fund to ever reach $1 trillion when the first transfer of oil revenue was made in May 1996."
For comparison: $1 trillion is roughly the size of Mexico's economy.
Norway is a major oil producer, and it has plowed its energy earnings into the fund in order to fund pensions and other government expenses.
The fund is among the world's biggest investors in stocks, owning $667 billion worth of shares in over 9,000 companies globally. It owns on average 1.3% of all listed companies worldwide.
Its largest holdings are in Apple (AAPL, Tech30), Nestle (NSRGF), Royal Dutch Shell (RDSA), Novartis (NVS), Microsoft (MSFT, Tech30) and Alphabet (GOOGL, Tech30), the owner of Google.
- CNN
The value of the pension fund is incredible but the stunning amazement at the Rockhouse is it only took them twenty years to do it.
You know the editorial already since Big Oil hates the idea and therefore it's bad. Trying to defeat that on any logical basis is pointless so I figure ...
Zen Yogi: just say fuck it and keep on moving?
Yep, that's what I figure, Yogi.
I'm content to marvel at what they accomplished.
The fund has generated an annual return of 5.9 % since January 1998, a figure that is reduced to 4% when management costs and inflation are included. In 2016, it clocked a 6.9% return worth 447 billion Norwegian kroner ($57 billion).
This year is shaping to be even more prosperous. The fund made 499 billion kroner ($63 billion) in just the first two quarters of 2017.
The fund's value works out to over $190,000 for each of Norway's 5.2 million citizens.
- CNN
Zen Yogi: I guess you should have been born in Norway, mate
Dunno, Yogi, since I've hated cold ever since Australia. Something which could be gratifying would be transporting some opponents to the so-called Socialist Hell so they can live it for a while.
Zen Yogi: is that a clever segue to international learning programs?
It is now, Yogi, since anyone's frame of reference will be improved by an international perspective.
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