The weekly Market Update is posted at Alpha Baskets and includes the following;
The Government Pension Fund of Norway, the country’s sovereign wealth fund, recently surpassed $1 trillion in AUM. The fund was established in the 1990’s as an investment pool for revenue accrued from oil. The fund owns an average of 1.3% of every publicly traded company on the planet. The country’s GDP is only $370 billion. If they paid out every citizen, all 5.2 million of them, everyone would get $192,000. While WTI just took back the $50 level for the first time in a while, fracking has created a strong argument for lower prices making Norway’s decision to create and fund the SWF very shrewd.
Please click through to read the entire update.
Bandelier National Monument
Pojoaque, NM Fire and Rescue, heavily filtered
Piece of petrified wood in Petrified Forest National Park