One of the little secrets about these money management firms is that they don't just get to make money on your investments as a client (which, of course, is fine), but that they get to vote on your behalf about a wide variety of social and political corporate policies according to BlackRock's value system, and not yours.
“Woke” investing – depending on your outlook – is the best thing since in-flight pretzels because it applies the power of capital to engineer change that you believe in…
It is in the best interest of all Americans to get as much out of their retirement plans as possible. Eliminating political virtue signaling from investment decision-making is the best way to do it.
Investing fads are nothing new. The latest fad in investing is environmental, social, and governance (ESG) funds. The purpose of these funds is to invest in "responsible" companies as a way to push for social change - particularly for the purpose of mitigating climate change - while at the same time earning market returns.
Today column by Tariq Fancy, former chief investment officer of Sustainable Investing at Blackrock says, “…sustainable investing boils down to little more than marketing hype, PR spin and disingenuous promises from the investment community.”
