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As Carl Icahn Was Selling Apple, This Central Bank Was Furiously Buying

On April 28, the catalyst the sent the stock price of AAPL to its post-August 25 frash crash lows, and launched a tremor not only within the Nasdaq but the broader market, was news that after several years of being AAPL’s biggest cheerleader, even coming up with price targets north of $200, Carl Icahn had suddenly cooled on the China-focused growth company, and had liquidated his entire stake.

But as Icahn was selling, or just before as we don’t know precisely when Icahn, who has since indicated he has turned massively bearish on the overall market, one entity was buying every AAPL share it could find. In fact, according to its latest 13F, everyone’s favorite central bank that openly admits it is also a wholesale buyer of stocks (with a portfolio of some $100 billion),

 

Swiss National Bank AAPL Holdings (Sheres in MM)

the Swiss National Bank reveals that in Q1 it bought another 4.1 million in AAPL shares, bringing its total to a record 14.5 milion shares.

Swiss National Bank AAPL Holdings (Sheres in MM)

We hope for the sake of Swiss residents that equity markets never suffer a dramatic drop. The SNB has “invested” 20% of Swiss GDP in stocks. When will the ivory tower economists ultimately lose control of the most manipulated, centrally-planned market in history? - Click to enlarge

 

What is bad for citizens of Switzerland is that as their central bank was aggressively bidding up AAPL stocks, its price was tumbling resulting in an immediate loss.

What is more troubling is that as of March 31, 2016, the SNB had total assets of CHF 646 Billion

 

Assets, In CHF Millions

Assets, In CHF Millions

We hope for the sake of Swiss residents that equity markets never suffer a dramatic drop. The SNB has “invested” 20% of Swiss GDP in stocks. When will the ivory tower economists ultimately lose control of the most manipulated, centrally-planned market in history? - Click to enlarge

 

…. of which 20% ,or CHF130 billion ($132BBN), was in the form of equities (its $54 bilion in US holdings are listed on the quarterly 13-F filing).

 

Foreign currency investments and Swiss franc bond investments (end of Q1 2016)

Foreign currency investments and Swiss franc bond investments (end of Q1 2016)

We hope for the sake of Swiss residents that equity markets never suffer a dramatic drop. The SNB has “invested” 20% of Swiss GDP in stocks. When will the ivory tower economists ultimately lose control of the most manipulated, centrally-planned market in history? - Click to enlarge

 

We hope for the sake of Switzerland, and especially its residents, that equity markets never suffer a dramatic drop because with a central banks which has “invested” 20% of Swiss GDP in stocks, bad things would result to the “full faith and credit” of its central bank when its peers finally stop buying equities and/or ivory tower economists ultimately lose control of the most manipulated, centrally-planned market in history.

 

Swiss National Bank AAPL Holdings (Shares in MM)

Swiss National Bank AAPL Holdings (Shares in MM)

We hope for the sake of Swiss residents that equity markets never suffer a dramatic drop. The SNB has “invested” 20% of Swiss GDP in stocks. When will the ivory tower economists ultimately lose control of the most manipulated, centrally-planned market in history? - Click to enlarge

Full story here
Tyler Durden
ZeroHedges' Tyler Durden is the hero of Fight Club, the 1999 movie based on Chuck Palahniuk's novel that reflected Chuck's experience in the Cacophony Society Quote: "Goddamn it, an entire generation pumping gas, waiting tables, slaves with white collars. Advertising has us chasing cars and clothes, working jobs we hate so we can buy shit we don’t need. We’re the middle children of history, man. No purpose or place. We have no Great War. No Great Depression. Our Great War’s a spiritual war… our Great Depression is our lives. We’ve all been raised on television to believe that one day we’d all be millionaires, and movie gods, and rock stars. But we won’t. And we’re slowly learning that fact. And we’re very, very pissed off." --> see more about Tyler on snbchf
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