Wall Street’s ESG craze is fading
Investors pulled more than $14bn from sustainable funds this year
Wall Street’s ESG craze is fading (fnlondon.com)
Wall Street rushed to embrace sustainable investing just a few years ago. Now it is quietly closing funds or scrubbing their names after disappointing returns that have investors cashing out billions.
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The entire ‘sustainability-stampede’ and the AGW Global Warming Jihad are manifestations of marketing hype gone wild!
They are a prime example of how charlatans can take some elements of truth and whip-it-up into a ‘modern gold-rush’.
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This will also be the case for AI and BitCoin that are on marketing highs reaching ‘cocaine-level’.
It’s as if the-market mentality is back in the 1920’s with the Great Gatsby Houses, Rolls Royce’s and the Flapper-Girls.
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Of significant concern is the way the US government is pushing technology and products with billions of US Taxpayer funding with No method or means of recouping failed and lost and misdirected tax-payer-money with massive blank-checks.
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Reality: All new technologies require time to develop into ‘successful products’ and there will be lots of disappointments and changes along the way and lots of taxpayer-money lost and squandered.
Remember: Durant owned General Motors Twice!
Durant, William C. | Detroit Historical Society
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