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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: jpdunwell who wrote (62909)	6/16/2022 7:39:01 AM
From: Sun Tzu	Read Replies (1) \| Respond to of 97556

That was one of the most misrepresented news of the year. Why should the media bring in boring analysis if they can have news porn headline? Engine1 has an ESG bias. But Blackrock doesn't. Blackrock held the votes, so Engine1 had to convince them to vote their way, and it wasn't going to be based on green politics. What they did instead was to make a compelling case that by putting all their eggs into the basket of being the lowest cost producer of a dying industry, Exxon was risking long term viability for short term gains. By the time the company would face the music, the current execs would have long be gone with huge bonuses, leaving the long term shareholders to hold the bag. Blackrock agreed. It is important to note that Blackrock is the largest investment firm in the world with huge international portfolios and awareness of every major investment sector in every part of the world. So their agreement meant that E1 made a compelling case based on data, because you don't get to be the largest investment firm by putting politics ahead of analytics.