For years, investment firms pressured companies to hire people of certain races and genders, and pushed “sustainability.” That has hurt returns.
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Investments that claim to be “sustainable” have been underperforming.
It’s because companies that embrace “ESG” woke investing end up prioritizing politics over innovation.
Intel, once a leader in the tech world, wasted millions on ESG goals.
Now, it lags behind its competitors. Its stock is down more than 70%.
“You have a company that’s absolutely failing!” Says Matt Cole, CEO of Strive investment managing.
Even BlackRock, which led the “ESG” push, now backs away from ESG investments.
“What you’re seeing today,” says Cole, “is ESG funds shuttering at record speed.”
Our new video explains why.
