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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 (62943)	6/16/2022 10:19:22 AM
From: Sun Tzu	Read Replies (1) \| Respond to of 97558

I missed that...too busy trading...will read it at night.

To: jpdunwell who wrote (62943)	6/20/2022 11:00:25 AM
From: jpdunwell	Read Replies (1) \| Respond to of 97558

This editorial made me think of our recent conversation on ESG policies/motives, and their impact on business decisions: "Testifying to the Senate Banking Committee in September, Gensler claimed of climate risk information that “investors are really demanding it.” More accurately, trendy asset managers, most prominently BlackRock, the largest such firm in the world with $10 trillion under its control, demand it, the better to inflict its wishes on companies in which it invests. Blackrock boasts that it “voted against 55 directors/director-related items on climate-related issues. This is a tool available to us in virtually every market we invest in on behalf of our clients … 83% of the time our votes against directors in the FTSE [Financial Times] 350 over remuneration concerns resulted in revisions to pay policies within 12 months.” Pointless or politicized regulations both devastate private sector productivity and kill jobs. A Conference Board survey just found that “more than 60 percent of CEOs globally say they expect a recession in their primary region of operations before the end of 2023 or earlier … Fifteen percent of CEOs say their region is already in recession.” With a looming economic downturn—on the heels of the devastation of COVID—is this a time to be helping multi-trillion-dollar money managers bully the nation’s providers of private-sector jobs, one objective being to charm the left so they might forget about things like BlackRock’s massive military investments?" theepochtimes.com I highlighted the part in red, because it summarized what I was trying to say earlier. Sure, Blackrock is in the business of making money, but political influence and favor can pay large hidden dividends that may not be directly quantifiable when examined on a singular basis. And you can bet all those well-placed execs from Blackrock into government positions are looking out for their old friends.