It is obvious that none of them believe that they have missed something structural about the market, and I can’t tell them what it is without giving the whole thing away. I have tried to make contact with someone who is a real player, including Wisdom Tree and Kevin Oconnor and another fairly large money manager, but to no avail. ![]() It requires no learning, just rote execution of the same trade over and over. As of today I am up 120000 on the year with an account that started at 280000. What I have come up with has only one trade,which I do only on the s and p 500 and has no loss down to a 20 percent market loss. All they do is expose you to risk and decrease profit. He does have half of an idea, but you all are right, spreads are a terrible way to try to make money, either in puts or calls. Fink said last week that he had been spending a lot of time in Washington to “correct the narrative.I have been getting emails from this service for some reason, and after listening to the presentation I was worried that he had discovered the same system as I came up with last year. Responding to the backlash, BlackRock poured record amounts of money into US political campaigns this year. Last week, Florida announced it was pulling about $US2 billion ($3 billion) from BlackRock in the largest anti-ESG withdrawal yet by a US state. ‘Correct the narrative’īlackRock, like other firms that have embraced ESG investing, continues to draw fire from US Republicans who accuse it of pursuing a “climate agenda” instead of focusing on returns for investors, including public pension funds in their states. Last year, it helped engineer the ouster of food group Danone’s chairman Emmanuel Faber. ![]() Since its launch in 2019, Bluebell, small by activist standards and based in London, had taken on the likes of Richemont, Glencore, Vivendi and GlaxoSmithKline. A representative for Bluebell didn’t immediately respond to requests for comment on the size of its stake. ![]() “BlackRock Investment Stewardship did not support their campaigns as we did not consider them to be in the best economic interests of our clients,” according to the statement.īluebell’s stake in BlackRock was about 0.01 per cent, according to BlackRock. While Mr Fink could stay on as chairman, that role should be split from that of CEO, Bluebell wrote in the letter dated November 10.īlackRock said in an emailed statement that, over the past 18 months, Bluebell had waged a number of campaigns to promote its climate and governance agenda. ![]() Bloombergīluebell urged the board to conduct a strategic review of BlackRock’s stance on ESG to eliminate inconsistencies and contradictions. “We are increasingly concerned about the reputational risk (including greenwashing risk) to which you have unreasonably exposed the company, potentially fuelling a gap between the ‘talk’ and the ‘walk’ on ESG investing,” Bluebell said in a letter to BlackRock’s board.īlackRock CEO Larry Fink has previously defended the firm’s backing of ESG investing. Bluebell, on the flip side of that argument, warns that Mr Fink, despite his high-profile role in advocating for so-called ESG investing, is undermining BlackRock’s credibility by continuing to invest in fossil fuels including coal. The criticism by the small activist investor comes as BlackRock and Mr Fink face attacks by US Republican Party politicians for pursuing sustainability goals and a “woke” agenda at the expense of returns. Bluebell Capital Partners is calling on BlackRock to replace chief executive Larry Fink over what it says are his failures to move the world’s largest money manager beyond investments in fossil fuels.
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