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I think it will indeed tank in the next few years, and to be honest, my bet is that the main reason for the "intervention" by BlackRock is also that they believ
by Al-Khwarizmi 7y ago
I think it will indeed tank in the next few years, and to be honest, my bet is that the main reason for the "intervention" by BlackRock is also that they believe it to be the case. I don't believe it's just a matter of public image, let alone morals.
Time will tell.
- Ntrails 7y agoThe reason is unrelated to any views individuals at the firm may have on the profitability of coal. They will not be marked on performance, that is the whole point of passive indexing. You _are_ the benchmark, no judgement required.
- Al-Khwarizmi 7y agoIt's not only passive funds. From the article: "The announcement by BlackRock, the world’s largest fund manager, that it will dump more than half a billion dollars in thermal coal shares from all of its actively managed portfolios".
- Ntrails 7y agoI was responding based on the Matt Levine quotes (GPs) rather than the article. But accede entirely