"Most ESG rankings have a thing for Apple, even though it’s been accused of relying on slave labor to build its iPhones in China." To say it's "been accused of" is just silly. It does... That's it. All these wokies walk around Tweeting about perceived injustice on their iPhone that some Chinese slave made. It's pretty wild. If you actual…
"Most ESG rankings have a thing for Apple, even though it’s been accused of relying on slave labor to build its iPhones in China."
To say it's "been accused of" is just silly. It does... That's it. All these wokies walk around Tweeting about perceived injustice on their iPhone that some Chinese slave made. It's pretty wild.
If you actually poke around what's in these ESG funds it's garbage too. You'll find PayPal, Visa, Microsoft, whatever other crap. The only thing that's special about these funds is that by calling themselves "ESG" they can charge 3x or 5x the management fees. It's basically equivalent to 2017 when that iced tea company changed its name to blockchain iced tea and doubled its market cap. Pure nonsense.
I feel bad for people forced to invest in this stuff. I am very skeptical that any of it is actually changing the world for the better.
There are legal obligations and fiduciary responsibilities at play in companies selling investment schemes. Those taken by chicanery or fraud have the ability to sue in their private capacities, or to joint together to take class action.
Beyond those I have little sympathy for those who who lose or fall short of their objectives
Wisely investing your money breaks down to two key elements: 1) Investing; and 2) the wisdom of knowing what you are getting for your dollars. After all, investing in stocks or investment funds is little more than legal, regulated gambling.
The term "investing" is an ever moving/changing term. In reality, what most people are doing is "buying." They buy a piece of a dream, really a lie, of potential comfort. When mutual funds started to be vigorously marketed, it was sold as a buying a small "piece of America." And as a way to avoid risk. What could go wrong of owning America? And you can avoid the risk of actually investing in something, which might go up or might go broke. Buying stocks and bonds was the province of the wealthy. But, with mutual funds you could act just like the wealthy. Investments require risk. Pensions are able to mitigate risk by continually having more money coming to mitigate short term losses. As most financial planners know, in retirement the safe amount that can be pulled is 4%. Any payments that go above that 4% means that they are relying on incoming inputs from other employees to cover temporary shortages. That's great until over time you pay out more than the returns bring in. That is why municipal pension plans have been in so much trouble. And then there is the issue when the inputs stop. As Buffett says, when the tide goes out, we know who was swimming naked. ESG investing is indeed a scam that allows for more fees to be paid to these firms that sell them. That is the bottom line.
The numbers will tell the tale. If state pension funds largely loaded with these ESG marketing fantasy firms actually continue to trail on S&P market valuations, it won't stay quiet for long. Pension funds will have to recalibrate, because recipients and legislators will demand it.
ESG might be a (woke) problem, but if it lags behind the returns of the broader markets, the problem will fix itself.
ESG is a demoralized social credit scoring system. DEI is but a small billion-dollar cottage industry within the S of ESG, which is a multi-trillion dollar grift. Both must be eradicated in order for our civilization to survive: https://yuribezmenov.substack.com/p/how-to-raise-your-esg-score
And Nike? And all the other virtue signaling creeps who use off-shore slave labor to make their crappy products. Or route our calls to call centers in India or the Philippines, staffed with babbling nincompoops who can't answer a basic question, let alone intelligibly.
Nike's CEO, John Donahoe, donated $20 million to Dartmouth in 2021 "to increase minority representation in STEM." And in completely unrelated news, three of his children also went to Dartmouth.
"Most ESG rankings have a thing for Apple, even though it’s been accused of relying on slave labor to build its iPhones in China."
To say it's "been accused of" is just silly. It does... That's it. All these wokies walk around Tweeting about perceived injustice on their iPhone that some Chinese slave made. It's pretty wild.
If you actually poke around what's in these ESG funds it's garbage too. You'll find PayPal, Visa, Microsoft, whatever other crap. The only thing that's special about these funds is that by calling themselves "ESG" they can charge 3x or 5x the management fees. It's basically equivalent to 2017 when that iced tea company changed its name to blockchain iced tea and doubled its market cap. Pure nonsense.
I feel bad for people forced to invest in this stuff. I am very skeptical that any of it is actually changing the world for the better.
E S G Extra Slimy Grifters , a new wayvto steal money from the m-asses
There are legal obligations and fiduciary responsibilities at play in companies selling investment schemes. Those taken by chicanery or fraud have the ability to sue in their private capacities, or to joint together to take class action.
Beyond those I have little sympathy for those who who lose or fall short of their objectives
Wisely investing your money breaks down to two key elements: 1) Investing; and 2) the wisdom of knowing what you are getting for your dollars. After all, investing in stocks or investment funds is little more than legal, regulated gambling.
The term "investing" is an ever moving/changing term. In reality, what most people are doing is "buying." They buy a piece of a dream, really a lie, of potential comfort. When mutual funds started to be vigorously marketed, it was sold as a buying a small "piece of America." And as a way to avoid risk. What could go wrong of owning America? And you can avoid the risk of actually investing in something, which might go up or might go broke. Buying stocks and bonds was the province of the wealthy. But, with mutual funds you could act just like the wealthy. Investments require risk. Pensions are able to mitigate risk by continually having more money coming to mitigate short term losses. As most financial planners know, in retirement the safe amount that can be pulled is 4%. Any payments that go above that 4% means that they are relying on incoming inputs from other employees to cover temporary shortages. That's great until over time you pay out more than the returns bring in. That is why municipal pension plans have been in so much trouble. And then there is the issue when the inputs stop. As Buffett says, when the tide goes out, we know who was swimming naked. ESG investing is indeed a scam that allows for more fees to be paid to these firms that sell them. That is the bottom line.
The numbers will tell the tale. If state pension funds largely loaded with these ESG marketing fantasy firms actually continue to trail on S&P market valuations, it won't stay quiet for long. Pension funds will have to recalibrate, because recipients and legislators will demand it.
ESG might be a (woke) problem, but if it lags behind the returns of the broader markets, the problem will fix itself.
I think this is more of a nuisance than a trend..
ESG is a demoralized social credit scoring system. DEI is but a small billion-dollar cottage industry within the S of ESG, which is a multi-trillion dollar grift. Both must be eradicated in order for our civilization to survive: https://yuribezmenov.substack.com/p/how-to-raise-your-esg-score
And Nike? And all the other virtue signaling creeps who use off-shore slave labor to make their crappy products. Or route our calls to call centers in India or the Philippines, staffed with babbling nincompoops who can't answer a basic question, let alone intelligibly.
😂😂😂
Nike's CEO, John Donahoe, donated $20 million to Dartmouth in 2021 "to increase minority representation in STEM." And in completely unrelated news, three of his children also went to Dartmouth.
There are many angles to this grift.
Companies like Nike and Apple disgust me. They are run by far left hypocrites, nincompoops.
Yeah I avoid Nike. I buy Psudo Shoes, which are 100% made in USA & amazing quality. My husband buys them too.
“Things left-wing people like” is a synonym for “saving the planet” in the left-wing mind.
they should go into the reclaiming booth do the world a favour