• 0 Posts
  • 31 Comments
Joined 1 year ago
cake
Cake day: September 14th, 2023

help-circle












  • Hot take: it was a valiant effort by people with tremendous power and influence to do the right thing with the wrong tools. Blackrock et al. tested the hypothesis that companies can generate greater returns by doing good. In doing so they risked their reputation and relationships with their investors.

    We all learned together that their hypothesis is wrong. One cannot add a constraint (ESG etc) without compromising returns, and the big money piles operate with mandates to maximize risk-adjusted returns.