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California Teachers Pension System Divests From AR-15 Company, But Not Smith + Wesson

JiminGA Wrote: Mar 06, 2013 7:07 AM
Unions, states, universities, et al that divest themselves of gun stocks, oil stocks, etc. may feel better about doing so but are foolish to believe the companies are influenced in any way. Stockholders can influence a company's actions but outsiders cannot, and they have made themselves outsiders. Not to mention that most of these "evil corporations" are quite profitable and benefit the the funds that now reject them. Seems to me the funds are guilty of fiduciary malpractice.

As part of the national stampede of politically-correct moves in response to the Sandy Hook tragedy, the California teachers pension system very publicly divested from a hedge fund that owns the company that makes the so-called “assault rifle” AR-15.

But according to the pension system’s website, it continues to own nearly $2 million in Smith + Wesson stock – $1,988,000 to be exact.

The gunslingers at Smith + Wesson are perhaps best known for making the .44 Magnum, “the most powerful handgun in the world…it could blow your head clean off,” in the words of Clint Eastwood’s Dirty Harry movie...

Related Tags: Teachers AR-15 Smith + Wesson