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How is losing money suffering no consequences? (I can tell you that I worked in investment management and sat in meetings where this kind of thing was discusse
by hogFeast 7y ago
How is losing money suffering no consequences?
(I can tell you that I worked in investment management and sat in meetings where this kind of thing was discussed...no-one thinks this, companies that do bad things lose money...end...SRI is something that the good managers always did, it is just branded so bad managers can make money. Index funds are making it easier on companies but...that is a choice people are making to separate stewardship from their portfolio management).
- pmiller2 7y ago> a shareholder in a public company indeed suffers no consequences for said company’s actions other than potential loss of their initial investment. I didn't say "no consequences." I said the consequences were too small.
- hogFeast 7y ago...compared to what...you have lost 100% of what you put in. Any other system is about wealth transfer...it is generally not advisable to attempt to transfer wealth this way, there are unintended consequences.
- pmiller2 7y agoThe consequences are too small compared to what would be needed to prevent Exxon dumping millions of barrels of oil into the ocean. Who cares if it’s wealth transfer, anyway? If I lose my initial investment in a company, that money goes somewhere, right? Ergo, what we have is already a form of wealth transfer.