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Sweden's Most Powerful Family Braces For The Next Global Crisis

• https://www.zerohedge.com by Tyler Durdan

Here's why: the Wallenbergs are renowned as bankers, industrialists, politicians, bureaucrats, diplomats; they are present in most large Swedish industrial groups, like Ericsson, Electrolux, ABB, SAS Group, SKF, AIK, Atlas Copco and more. In the 1970s, the Wallenberg family businesses employed 40% of Sweden's industrial workforce and represented 40% of the total worth of the Stockholm stock market

And now they are preparing for the next global crisis.

According to Bloomberg, the Wallenberg family's holding company Investor AB - which today owns stakes in a fifth of the companies listed on the country's large-cap index - is preparing for the inevitable downturn in global economy, and to do so it is making sure the holdings in its 372 billion-krona ($42 billion) portfolio of stocks are "agile and flexible" enough to handle a "changed outlook" after leading indicators started pointing to a softer demand environment. To shore up liquidity while it can, not when it has to, the company recently also sold a €500 million bond.

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