I Didn’t Know That, Part One
Our stocks editor, Bob O’Brien, refers to me as The King Of All That Is Trivial, and he’s right on. I love trivia, and when it’s relevant to one of our stories, so much the better.
During “Squawk Box” we have several “stocks to watch” segments, so we’re always on the lookout for stories that might move individual stocks. An item from SunTrust Banks caught my eye this morning: it’s not only expanded its cost-cutting plan to save $530 million a year, it’s also sold 4.5 million shares of The Coca-Cola Co.
It turns out, trivia fans, that SunTrust is the second largest institutional shareholder of Coca-Cola behind Warren Buffett’s Berkshire Hathaway. And not only that, it’s had Coca-Cola shares since 1919. And not only that, it has a copy of the secret formula for Coke in its vaults! I kid you not.