From The WSJ: Switzerland's central bank -- think, US Federal Reserve -- made $55 billion last year (2017) -- more than Apple, and way way more than the US central bank. The Swiss bank expects record profit on higher global equity and bond prices and a weaker Swiss franc. Some data points regarding the Swiss bank:
- $800 billion portfolio in foreign stocks and bonds
- expects to report a record annual profit of $55 billion for 2017
- $55 billion = 8% of the country's GDP
- by comparison, if the Federal Reserve were to run a profit of similar scale relative to the U.S. economy, it would be about $1.5 trillion
- the US Federal Reserve has earned an annual profit of around $100 billion in recent years
- the profit is more than Apple Inc earns in a year
- more than JPMorgan and Berkshire Hathaway Inc combined
- the Swiss bank's largest holding: Apple; owns almost 20 million shares of Apple
- but it has a problem: what to do with $750 billion
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