Never make politics out of investments, part 2

Another investor who includes political values. In an interview with the online newspaper Affaersvaerlden, Per H Boerjesson, CEO of Investment AB Spiltan, one of Sweden's largest independent fund managers, claims that their fund, which is currently trading significantly below its net asset value, is quote "we are undervalued - period!" unquotes. Per H Boerjesson continues and says that the balance sheet is in black, it's just a nervous market.

I am sure the balance sheet is in the black, but a potential reason why the market is treating the fund manager with buybacks, limited patience and exits could be that Investment AB Spiltan has decided to implement political values in its holdings.

In the first quarter of 2025, Spiltan sold its shares in Warren Buffett's American conglomerate Berkshire Hathaway, largely due to the political situation in the United States, according to the same article. Another reason for the sale of Berkshire Hathaway, according to Spiltan, was the currency risk associated with the dollar.

We sold our entire holding in Spiltan Invest as soon as we read the article. We don't invest our money in the stock market to change the world, but to get the best possible return. How we want to change and improve the world is done through other channels.

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