One of the reasons you haven't seen a lot of buy recs out of us lately. As one fellow puts it:
....“In a bear market, a company doesn’t trade at 60 times earnings just because it does something morally good,” said Barry Norris, chief investment officer at Argonaut Capital. “People will be a bit more hard-nosed about it.”....
Via the FT's natural resources editor:
Hedge fund short-sellers take aim at green energy stocks https://t.co/pc1lft7h06
— Neil Hume (@humenm) January 26, 2022
Another snippet:
....But hedge funds in the US and UK have been buying the lowly valued shares of oil and gas companies discarded by investors focused on environmental, social and governance (ESG) factors.Betting against companies whose stories of helping the environment are stronger than their earnings, or against those that have exaggerated their ethical credentials, has also become increasingly attractive.....
If interested see also last night's "The Lack Of Prospects For ESG (at the moment)".
