The Woke Street Journal
When I started in the business we had “socially responsible” mutual funds. The performance sucked but offered an obvious choice for investors. Either make as much as possible and don’t worry about what companies you are investing in, or sacrifice performance but only invest in companies that reflect your values. I have no problem with choices. Somewhere along the line this got out of control, now investors have no real choice, they are fighting back as people tend to do when you force stuff on them. Big asset managers silent over ESG backlash-InvestmentNews
Amid politicization that has made environmental, social, and governance criteria a risky thing for many asset managers to emphasize as a part of their business, some have reportedly scrubbed mentions of ESG from marketing materials. None of the biggest asset managers that offer sustainable mutual funds and ETFs in the US agreed to interviews covering how they are addressing products and marketing during a time of slumping sales industrywide.
“It’s been a continuation of what we’ve been seeing for the past two years. I think it’s probably getting worse,” said Hortense Bioy, pictured below left, global director of sustainability research at Morningstar, regarding the US fund redemptions in the first quarter. “The picture is bleak in the US, getting worse and worse. ESG backlash is having an impact on investor appetite.”
Remember when shareholders would press company’s about profitability and the share price? HSBC’s Green Credentials Come Under Fresh Scrutiny This isn’t the first time investors have challenged HSBC on its sustainability efforts-WSJ
The investor group, which has $892 billion in assets under management, said Friday that it intends to ask the bank at its annual general meeting to explain how it will spend its green funds. It also wants the bank to set a funding target for renewable energy.
ShareAction, a nonprofit focused on responsible investing that is coordinating the group, described HSBC’s target of spending between $750 billion and $1 trillion on sustainable finance by 2030 as too broad and vague.
Stock has actually done quite well, perhaps a name to keep an eye on for a short entry.
Watch 4.7% on the 10 yr. So far it doesn’t want to go there but the could change. Higher rates mess up people trying to buy homes, people underwater on credit card debt, and the US, which is underwater on debt as well. Powell says he’s not political, we will see. The Treasurys Market Is Getting Squeezed From All Sides Inflation and deficits are lifting yields and jarring the stock market-WSJ
Stickier-than-expected inflation this year has boosted yields on U.S. debt enough to dent the stock-market rally. Soaring spending by Washington shows few signs of slowing. And the latest plan to finance it all promises a flood of Treasurys in the coming months that will need to find buyers.
CEO of male hair loss and ED treatment brand is ‘eager’ to hire anti-Israel student protesters-NY Post
“If you’re currently protesting against the genocide of the Palestinian people & for your university’s divestment from Israel, keep going. It’s working.
Stock looks like a short here…
You know you’ve stumbled through the looking glass when European politicians start sounding saner on climate policy than the Americans do. Well here we are, Alice: Europeans are admitting the folly of net zero quicker than their American peers.
You mean getting back to doing what they are supposed to be doing? A Trump SEC would aim to reverse climate disclosure rule, ratchet up ESG fights, sources say-CNBC
If former President Donald Trump were to win the White House in November, the Securities and Exchange Commission under his administration would likely curtail the rules recently adopted on climate disclosure.
The rule “costs companies and investors a tremendous amount of money, and provides them no benefit,” said a person who is advising Trump on SEC related matters.
Who has a shorter life expectancy, someone who has dirt on the Clinton’s or Boeing whistleblowers? Boeing Supplier Whistle-Blower Dies. This Is the Issue He Raised.-Barron’s
Hmmm. Columbia Says a Third of Arrests at Hamilton Hall Were Outsiders-Bloomberg
The views and opinions expressed herein are those of the Chief Executive Officer and Portfolio Manager for Tuttle Capital Management (TCM) and are subject to change without notice. The data and information provided is derived from sources deemed to be reliable but we cannot guarantee its accuracy. Investing in securities is subject to risk including the possible loss of principal. Trade notifications are for informational purposes only. TCM offers fully transparent ETFs and provides trade information for all actively managed ETFs. TCM's statements are not an endorsement of any company or a recommendation to buy, sell or hold any security. Trade notification files are not provided until full trade execution at the end of a trading day. The time stamp of the email is the time of file upload and not necessarily the exact time of the trades.
TCM is not a commodity trading advisor and content provided regarding commodity interests is for informational purposes only and should not be construed as a recommendation. Investment recommendations for any securities or product may be made only after a comprehensive suitability review of the investor’s financial situation.
© 2024 Tuttle Capital Management, LLC (TCM). TCM is a SEC-Registered Investment Adviser. All rights reserved.
