12 views Mar 5, 2025
In investment circles they often say the time to buy is when others are selling. Sentiment is a funny thing — ideas go in and out of fashion and markets often get caught up in the next big thing — and sometimes we have what the former Fed chair Akan Greenspan called irrational exuberance.
I think these periods of irrational exuberance come more often than is commonly realised but I also think the backlash is often over-done. I have some news. climate change is not something you can wish away. And whatever sentiment says about the need for climate-friendly policies, facts don’t change.
ESG has been coming under criticism of late: some of it justified. Some of it builds upon a misunderstanding of what ESG is? That’s why I say that we may be seeing irrational pessimism — the backlash may ultimately prove as useful as a backlash against the idea the sun rises in the morning King Canute supposedly told the tide to stop. Setting aside the possibility that the king was actually making a point to fawning nobles, just because you command nature to perform in certain way that doesn’t mean it will obey. I guess the same is for human nature.
In this episode, among other topics, we discuss:
How are ESG investments holding up right now?
Climate change isn’t going away. There will surely be a need for climate friendly policies for decades —or longer! Is this a buying opportunity?
Is investing in defence the new woke?
The reason why it is sustainable is is because it accounts for extra risks.
Is irrational pessimism relating to ESG?
What is the future of ESG investing?
Does the fall in the Tesla share price illustrate the importance of reputation and good governance?
Bill Davis, Managing Partner and Portfolio Manager at Stance Capital Alyssa Greenspan CEO & President Community Capital Management, LLC Chris Hall, Co-founder of ESG Investor
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