Posted on 07/24/2023 7:50:17 AM PDT by JayGalt
...In this little video the confident and smooth Ramaswamy is almost mesmerizing in creating his own upside down world regarding fiduciary duty and ESG. Although he admits to his sympathetic interviewer that he doesn’t know what ESG is, he boldly asserts his commitment “to put excellence over politics.” (Keep this in the back of your mind as you read further.) He earnestly attacks “The Big Three” of BlackRock, State Street, and Vanguard as being driven by ideology rather than returns. “It’s the money of everyday American citizens that’s being used to advance this ideology that most of them disapprove of.”...
(Excerpt) Read more at forbes.com ...
Agreed. But someone using ESG as a way to profit from corporations who are not investing using ESG strategies is incredibly cynical immoral and opportunistic.
Did you read the Forbes article?
I only excerpted a piece. Even if not subscribed to Forbes you can read 4 articles free.
Shame on you for attacking when I am furnishing information that many freepers are unaware of. Let people make up their own minds even if you cannot be bothered to review the evidence yourself.
Three times. I think it’s fascinating.
I’m sorry you feel that way. I only try and present the facts. Others can sum them up as they please. I would have been happy to find that Vivek was genuine in his presidential platform.
I think you didn’t read the article. You are 1/2 right & 1/2 wrong.
“asset managers have a fiduciary duty to maximize the long-term returns of their clients.” Completely correct
“they are ignoring in the name of obeying Cabal orders.” Completely wrong.
The point of the Forbes article is that the companies being targeted are not investing on ESG principles. Forbes does a deep dive on those companies investments. That is why they say Vivek is using Grift Capitalism. He is accusing them of what they are not doing and positioning to monetize the issue.
I would not oppose him if that were what he was doing. Actually those companies are resisting being pushed into ESG investments by stockholder proposals and are committed to investing so as to maximize stockholder profits.
The above is well explained in the article with detailed examples in the latter 1/2 of the article.
It’s an interview. Listen to it if you doubt the author’s transcript. It is a direct quote from Ramaswamy.
I’m sorry that you didn’t read the articles. I only provide them for people who want to look deeper into a candidate. If you don’t read the whole article and just jump to conclusions there is no help I can offer.
The problem is the time line. I can’t help what Vivek said in the early interview. He has since jumped on board, written a book and created a company to profit from his activism, much of which targets companies not pursuing ESG, though certainly investors should shed companies that do like Disney. Government involvement is problematic. Giving power too Government is very risky. The next throat they grip may be yours,
“The next throat they grip may be yours,”
No. As history has proven, over and over and over again...
the next throat they grip WILL BE yours. It’s just a matter of time.... and of “their timing”.
Combating the radical left reminds me of the futile attempt to eliminate fire ants in my yard. They spring up in one area, you Ortho them, they disappear from that area...
only to spring up in yet another area, and another, another.
And the only thing I hate more than radical Marxist/leftist Democrats...
is fire ants.
This is the video. Less than 20 seconds in Vivek says he finds it difficult to define what ESG is.
https://www.youtube.com/watch?v=1gQJk_goU4Q
The point is whether this is a way for Vivek to monetize the issue. Information is power. Reading the entire article furnishes facts that show that the course being pushed by Ramaswamy will damage returns, strip money from pension funds and allow Government to dictate to industry. How has that worked before?
The evidence is furnished in the article that many of the companies being targeted (examples Exon, Vanguard, Blackrock) are competent and successful managers. Conservatives, who are well acquainted with fake news, should not be so quick to swallow what they are told without looking into the claims. Forgetting the money motive because someone sings a song that resonates to us is a dangerous blindspot.
Less than 20 seconds in Vivek says he finds it difficult to define what ESG is.
The actual quote is, "I find it very difficult to define what ESG is today." Which is different from not knowing what ESG is.
That's a statement about how ESG is evolving and how the left is using it.
I’m sorry that you didn’t read the articles. I only provide them for people who want to look deeper into a candidate. If you don’t read the whole article and just jump to conclusions there is no help I can offer.
Look at you...quoting lefty Harvard professors and telling Freepers off.
I posted an article. I quoted nothing but the article. This is one of my worst experience in almost 15 years on Free Republic. If you don’t want to read the article fine, if you read it and disagree fine. But attacking me because I did read the article and found the conclusions convincing is not cricket.
My take away is that though I loathe ESG and will not invest in companies that use that measure to inform investments I do not want the Government to control investments. Another big take away is that analysis of Vivek targeted companies covered in the article does not support the hypothesis that they are using ESG to guide investments but rather than that they are guided by stockholder fiduciary interest.
That being so why is Vivek targeting them? The article spells out how he has positioned himself to capitalize on this issue and why the economy, pensions and investors will be damaged.
That means he's on the right path.
That means he's on the right path.
Stop saying I didn’t read the article, lefty.
I read it. I’ve read beyond it. I corrected you about it.
If you consider that an attack, move over to DU. They love lefty professors and the people that quote them.
“Three times. I think it’s fascinating.”
Obtuse comprehension indeed.
Many scientists skim, read for detail and then go back to check for any fine points. You could try it. This is a very meaty article and was worth my time. Have a good day.
Sorry. If you disagree with the facts about the companies or the effect on pension returns if there is government/mandated middle man involvement feel free to comment.
You are entitled to your own opinion but if I am basing mine on shared facts I prefer rebuttal on a factual basis not a smear.
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