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Non-Tech : Climate Change, Global Warming, Weather Derivatives, Investi
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To: Topannuity who wrote (111)4/9/2007 2:02:32 PM
From: Sam Citron   of 442
 
I tend to agree.

To paraphrase Keynes: Investing is a beauty contest in which the investor does not have the luxury of choosing who he thinks is the most beautiful girl, but must choose who he thinks the other judges are going to think is the most beautiful.

But if people want to spend their time arguing the causes, consequences and significance of global warming, I am not going to try to stop them.

Even if all the governments of the world that have ratified the Kyoto Protocol were mistaken in their scientific analysis, what matters to investors is that they have agreed to take unprecedented collective action and that these actions will have certain consequences on the markets. It would not matter even if global warming is a hoax or a mass delusion. [Read Extraordinary Popular Delusions and the Madness of Crowds by Thomas MacKay] The markets will react to events and forces whether real or imagined. Periodically people and markets get it wrong and become hysterical. The South Sea Bubble, Tulipmania and the Tech Bubble of 2000 come to mind. Wise investors and speculators learn to anticipate and profit from such trends, and then find higher ground hopefully. <g>

So let's compare notes and discuss potential potential global warming portfolio candidates. I'll just list a few possibilities to get started:

1) Nuclear Energy, e.g., Areva, Exelon
2) Wind: e.g., Vestas, Suzlon
3) Solar: ESLR, many others
4) Fuel efficient and alternative fuel vehicles: Toyota
5) Clean coal technology, eg IGCC [integrated gasification continuous cycle]
6) Climate exchanges for carbon emissions trading

SC
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