“Poorly comprised regulation is often just a gift to overcapitalized and over-lawyered people with a large PR budget.” And this isn’t even “real” regulation, which
“To think is easy. To act is hard. But the hardest thing in the world is to act in accordance with your thinking.” From one
We may have called this one. By Max Abelson (Bloomberg) — HSBC Holdings Plc has suspended executive Stuart Kirk days after he criticized the finance
Activist groups are filing climate resolutions across corporate America. Tactically interesting, all six of the largest US investment banks are prominently targeted in a “cut
What do investors really need in regard to climate disclosure? This is a reasonably balanced discussion. Recall – the SEC initial proposal subject to public
ESG’s Russia Test: Trial by Fire or Crash and Burn? by Aswath Damodaran My views on ESG are not a secret. I believe that ESG
Well, we think this is important. Not just as a card-carrying member of planet earth, but as an investor. The amount of contradictory “flow” in
Yes, the good Professor is often widely off the mark as anyone would be when your canvas becomes “the world” vs business models and marketing
If making “sustainable” shoes is unprofitable but feeds a mission, then Barefoot has to be better and has a materially lower cost supply chain. I
This was a former holding. We lost a lot of money. Permanently. Among several terrible mistakes – which include the difficulty of properly valuing a
As previously noted in our previous CSC blog on Exxon: Indexing highly liquid assets and managing them as a fiduciary at a very low cost
Original article appeared in Harvard Business School’s Working Knowledge What Does an ESG Score Really Say About a Company? 21 JUL 2021|by Kristen Senz A
WSJ July 2021 “This followed the announcement in April that Japan’s Government Pension Investment Fund, the world’s largest with around $1.6 trillion under management, is
You might have heard about this “Green” thing. On an unemotional basis, estimates are thrown around regularly that “we” (whether that includes China, India, Brazil,
The IEA is arguably the key source of global energy issues and math. Summarizing: The aspirations of Green grossly underestimate the capacity of the existing
This is interesting and worth reading. There is a LOT of nuance behind Green Headlines. Go to Terrapass.com and see how green a bankrupt Canadian
This past week I had the distinct privilege of presenting to Titan Capital Management undergraduate students at Cal State Fullerton. Kelly Ko, who is a
The process of “weighing” a stock promoter’s narrative is imprecise because “reality” as reflected via stock prices can be a rapidly moving target, as “things
Musings on Markets: Sounding good or Doing good? A Skeptical Look at ESG.
In a world that loves data and quantification no matter what the source or the possibility of reaching a bewildering machine learned conclusion that makes
Cleary Gottlieb’s Memo released on July 24th: Shareholder Complaints Seek To Hold Directors Liable For Lack of Diversity
As Beijing moves swiftly to increase control over Hong Kong citizens this week, the Wall Street Journal warns that their actions highlight a broader ambition
At a recent “meeting” of the Asset Management Advisory Committee, Jay Clayton, chairman of the Securities and Exchange Commission, noted: “I have not seen circumstances
Call us crazy, but the thought occurred us in the last few weeks that there might be stocks that have gotten crushed in the last
From the 2020 Berkshire Hathaway Annual Letter to Shareholders: Board of Directors In recent years, both the composition of corporate boards and their purpose
It’s nice to know we’re not alone…although it feels that way sometimes. Source: AYI Q1 2020 10-Q Looks like there were some other shareholders who
We really wanted to like what we read in the recently-released proxy statement for Acuity Brands (AYI). In response to an awful say-on-pay result from
JD Wetherspoon founder Tim Martin has launched an attack on two of his pub chain’s biggest shareholders, accusing them of hypocrisy on corporate governance. Mr
