I’ve recently sold several stocks including Honeywell because they’ve gone full ESG/DEI. The companies that do this have one thing in common, their stock values either go down or go nowhere positive. They are no longer in business to make a profit. If they’re making a profit than they’re not virtue signaling hard enough and will face criticism for destroying the Earth or whatever. The funds all had precisely 30% of their investments in losing ESG/DEI investments. I’m hoping that there will be massive lawsuits as these companies have abandoned their fiduciary responsibility to the investors. Until that happens research the ESG/DEI policies of any investment. Honeywell said they were giving “loans” to green energy enterprises. None of those will ever turn a profit because they aren’t supposed to. Profit is evil, don’tyaknow?
We can’t say we haven’t been warned. Life isn’t as entertaining as books/movies (and we can fast forward to the end)
The problem we have is that Blackrock, Vanguard and the like are all in on ESG/DEI, and they control so much wealth that it affects stock prices greatly, regardless of return. For now. But eventually, the Gods of the Copybook Headings will prevail.
If you want a real laugh, read the chapter in the new Isaacsan biography about Elon Musk. Especially the chapter about when he walked in to the Twitter office as an owner, carrying a sink…. As in “let that sink in”. :-)
Twitter offered free food, signs over each bathroom that said “sexual diversity welcomed here”, had swag t-shirts that said “stay woke”. Everyone got a free day off every month as a “Psychological Day”. They prided their workplace as “comfortable” and “safe”. Lol
That’s how Elon was able to cut 80% of the work staff while still improving the product.