Nuns In Germany, In Search For Yield, Sell Deutsche Bank Shares After Learning About SWAPs

Is this the top version #389 featuring Nuns

Amid a global search for yield in a sea of negative interest rates in Europe sits a solitary convent in Germany. The nuns who occupy the facility live a Spartan life, selling milk and candles and at one point collecting interest off a nearly $2.1 million investment portfolio. With rates turning negative and economics being turned upside down in the Eurozone, the nuns pray and actively manage their money. Their strategy is working. With a hope and a prayer, the sister’s sacred portfolio delivered a 2.6% return on investment, significantly higher than the 0.3% return on German government debt but also well below the 9.6% the German DAX stock market index delivered.