As hedge funds rush to exit short positions, the market is defying dour predictions of a depressing start to the week. But only just.
Globally, some think that the financial system has yet to price in climate change. But the Fed is investing in oil, cigarettes and Warren Buffett and Zuckerberg’s under more pressure as Starbucks and Diageo join Unilever, Verizon and others in beseeching boardrooms to boycott Facebook.
In Europe, Germany is to overhaul its accountancy regulation after the Wirecard scandal, the pandemic may be putting nationalism under pressure and softening hearts in Poland and Iceland has never been more liberal, after giving its incumbent president 92.2% of the vote. In France, a green wave is engulfing President Macron. And we definitely need green energy because electricity use is growing more quickly than the human population.
But let’s be positive. Some stocks are doing very well in this pandemic and Edison’s influence is growing, having introduced dozens of clients to funds – including Mondrian Partners, Cohen and Steers and Union Bancaire Privee. Collectively, such funds have many hundreds of billions of dollars under management.
You might also get paid when an internet company uses your data – though let’s hope the idea doesn’t get funding because venture capital apparently doesn’t build the things we really need. Which is confusing when you learn that there’s a new VC focused on low carbon start-ups.
The Stream Team