ESG movement has a 'deep seeded conflict of interest,' says Vivek Ramaswamy
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- Опубликовано: 8 июн 2022
- Jonathan Bailey, head of ESG investing at Neuberger Berman, and Vivek Ramaswamy, founder of Strive Asset Management, join CNBC's 'Squawk Box' to debate the performance of ESG investments. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/2NGeIvi
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the indian guy is right. esg has become a political faultline.
yes, and you can’t argue with anyone who is squarely on the side of the energy transition, they are drunk on the kool-aid and won’t listen to reason.
Which was the Indian guy?
He's American.
sorry i meant 'indian american' guy. he could be the next VP.
I like this Vivek guy. He should run for President 🇺🇸
Hahaaa I miss him
ESG = 45% signal virtues, 45% obscure interests, 10% real interest in making the world better.
0% interest in making the world better
Scam
I think to make the world better we need to start looking at those that are closer to the bottom of the social and economic ladder and giving them platforms and opportunities to get an education and work with those who have power.
90% villains who will make the world worse.
6/16/23
Look at the face they chose for the job… lol let’s pick the kid who’s good at confidently reciting bs
ESG is a scam, do not let them take fees from you
Fees are same as other funds lol
Schooled! Vivek is a badass.
Vivek really mopped the floor with that Woke poindexter!
Well said, Vivek.
I like this guy, straight shooter.
True, but sadly it’s never going to be backed up by power. The radical left have all the power because they have the Deep State fully on their side.
The oil companies have a better ESG score than tesla 🤔
Yup ESG is disgusting and hurts the poor the most
ESG is gonna be why we’re gonna pay $8 pgallon of unleaded
ESG must be destroyed.
ESG is to force a reason to limit what you can buy and do when we are on CBDC's, you cant buy meat because you already bought meat and reached your carbon footprint limit for meat etc.
*Force* is the key word. To force people to follow the pseudo-science of the left based on an anti-man view of the world. Man is an unwelcome intruder into the environment according to the man-hating left. And they mean to punish us by fear mongering a non-problem, CO2 emission... and by a push of "diversity" as if diversity is the highest value. Individual rights are the foundation of a moral society, not diversity.
There is not *reason* behind ESG. It's all based on a hatred of man. If reason were valued and man were valued, the entire thing would melt away.
The entire thing is left-wingers with their cramped and irrational view of the world pushing complete nonsense on the world.
6/16/23
Evil. Because guess what, the truly rich pushing for this will do whatever they want and still pour thousands of gallons of fuel into their private jet and yachts..
Great interview. Good questions that point out the fallacy of the ESG movement.
The “transition” to net zero will be drivin by consumer economics. As long as oil and natural gas is less expensive than greener sources of energy then the marketplace will choose them. I think this transition to clean fuel is gonna take longer than governments think, like decades longer.
I thought they were good questions, too, but that guy on the left with the glasses made no sense at all. His answer was just word salad.
@@skipdoggy
Essentially, carefully, he did not answer the points that Vivek made.
And the moderator, the host, facilitated that dodge.
The two on the left are practically mouthpieces of the ESG.
Well said Vivek
Love Vivek!
The opinions that the ESG guest holds in conjunction with the mandates that have been implemented through the Blackrock's of the world does not allow for choice in any manner. We will be forced into their investment positions to keep ourselves in compliance with all the limitations they impose on hydrocarbons and advantages they provide to ESG. There is nothing competitive about this. The ESG movement will create a massive death spiral within those dependent upon hydrocarbons; the poor and middle class are getting killed right now. The method in which the Biden administration and the European green movement is not going to save lives before it destroys them. The pollution emanating out of China is insane. If they have all the minerals and manufacturing capacity for ESG, let them manufacture, deploy and impact its environment while America gradually transitions.
how well did ESG work for Signature Bank and SVB? the whole DEI and ESG thing is poison to free market capitalism.
You tell them Vivek!
Jonathan is just jargonomics
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ESG is nothing but woke corporate virtue signaling. I'm getting great returns in LMT and oil. Doing the opposite. Costanza portfolio ftw
ESG is the new scam
Well said Vivek !
Why did you cut off the segment and Vivek's response?
Bailey has the least trustworthy face I’ve seen in a while
Where is the full interview?
See even NBC can tell the truth.
It's not hard
Baby steps 😏
Jonathan looked like he got even paler listening to vivek which by itself was a miracle
I don’t mean to be shallow, but just look at how naive looking that dude with the glasses is… that’s the kinda person that thinks ESG is an investment thesis.
Go back to business school, nerd
😂
100% agree Vivek 2024 period.
If they own the index funds, then they can make an announcement about cutting production cuz of CO2, and in that time they can shift around investments behind the index funds that will reflect the benefit of their top down "announcement". Even if these shifts are small, and they would be, (say fractions of a percentage) they can leverage for huge returns through the derivatives market.... But this money is not production that adds to the market, it's simply rent seeking at an unfathomable scale.
ummmm... I know they sound the same but it's deep-seated not deep-seeded, please update.
What Vivek did not mention is that Oil and gas companies actually generate significant return after shifting their resources from oil production into renewable sector.
Can you cite any examples?
@@defaultsettings63 FPL has been building solar plants while spending millions to lobby the state against solar energy altogether.
@@carbonbomb4774that’s not what he asked
@@wills242 sure it is, where would FPL get the money to give to DeSantis and other Republicans to sign off on 3 rate increases in the last 12 months?
Johnathan is hilarious 😂
Shame on Democrats appointment of a clown from ESG Economic advisor to the President of the United States 😣
Read Vivek's book, "Capitalist Punishment." ESG "green smuggling," is marxism/communism coming in through the back door. IMO.
These comments give me hope.
Interesting discussion. The problem is complex. But one thing is simple. Fossil fuels are relatively cheap and easy to produce, even after the last spike in price, but they are the major contribution to Global Warming which is going to have a catastrophic effect on the earth. There is no international cooperation on this problem. Unfortunately no solution is on sight.
There’s no impending catastrophe due to climate warming. There are many experts who argue against that. Just like with Covid, they’re only telling the people one narrative and shunning the other. And just like in Covid, there’s a lot of bullying going on.
They will not have a catastrophic effect on Earth. The co2 stored in fossil fuels was sequestered from the atmosphere in the first place. Releasing co2 back to where it originally came from, which was a perfectly life viable planet, is not going to prevent any problems. It is also the case that the atmosphere becomes exponentially saturated with co2 requiring twice as much co2 for each degree of temperature rise.
@@paulmcgreevy3011 you don't know what you are talking about. Your ignorance is colossal. The CO2 in the atmosphere will reflect the radiation coming from earth and raise the earth temperature. This is the highest CO2 concentration we have had in the last 850,000 years. You know nothing about physics and climatology. 99.9% of the papers published on this topic over the last 3 years agree with what I said.
Sounds like Brussels sent this guy.
Did Vonderleyen send you😏
Sustainable investing right now would be investing in trees WY RYN REF BCC PCH and something like RWT. And many of these have dividends.
Exactly, it's market manipulation, they aren't trying to help you. You think investors care? We want bonuses...
ESG is like capital communism.
Just released a video essay on Vivek if you want to learn more about him prior to the 2024 election!
This guy is saying so many smart things. People don't understand how badly the oil and gas industry has gotten burned in the past.
They even somehow forget that people were paying people to take oil in 2020....which is not a profitable way to run a commodity business.
ESG is still trying ti find a way to invest in triple bottom line businesses. It will improve, but it’s atleast on the right track in the long run
Vivek 2024!
Corporate virtue signaling. I am sure the ones determining who is greenest can't count.
Deep seated not deep seeded, geeeessh
Share this video 👍👍
So sponsoring drag shows targeting children raises your ESG score, but what the hell does it do for earnings OR the environment?
F ESG. Just sat no. Like what I was taught about drugs in the 90's, just say no to peer pressure.
ESG just bull.
Esg is pure bs
The white kid on then left… so creepy 😬
They need to do a new gen American psycho movie abt a soy boy in a major newsroom in 2020 instead of a stock broker in the 80s😂
Wow, this dude has it all down cold. Too bad, this crap will never work and any smart investor will stay clear.
Everything good gets hijacked, that's the counter measure.
totally agree. Vivek Ramaswamy is a bit too eager to destroy esg
Jonathan, Jonathan
One of these days he will be kicked out of your job position, for "discipline"...you know, gender and race equity
and one fellow who perhaps has not the credentials needed, but with the gender or race required, will take over
perhaps Jonathan will lose his cold "I am a smart guy" confidence
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I think concern for short-term (1-2 decade) profit will eventually lead the earth as non-livable place. ESG is not just for profit, it's a movement for sustainability. Today, we might earn huge economic gain by compromising the environmental and social sustainability, but we will regret it in few decades later.
The problem is right there. What is "social sustainability?" If this was just about the environment, it wouldn't be that big of a problem. The issue is where they are trying to smuggle in social political opinions, and force companies into compliance with them.
@@H.Hardrada BINGO!
What we will regret the most is handing over decision making about food, energy, monetary policy, and helping to consolidate power to a one world unelected govt. this is naive thinking.
I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Michelle
I think she is the best broker I ever seen.
My first investment with Mrs Michelle gave me profit of over $24,000 us dollars and ever since then she has never failed to deliver and I can even say she's the most sincere broker I have known
Jonathan Bailey looks like a company stooge that for the very very first time in his life may have been confronted by actual objective reality. He is a cross roads and makes the infantile choice to appeal to saying "ugh, that's like your opinion, man."
Say what you will about the issue, but the ESG guy outdebated the other bloke.
What debate were you watching?
ESG places more importance on social nonsense.. Tesla would be scored higher if it wasn’t a fraud. The environment is more important than pronouns.
ESG investing is here to stay
Doesn’t mean you have to jump on the bandwagon though. Still need to be very selective with your funds and or stocks.
@@jimmason8502 absolutely. it depends on the mandates. but it's here to stay, for some, and for more moving forward
no way.
@@briandavis849 care to elaborate?
Es
Ginvetingisheretostay,
Amslrsadmoulana looks me
is it take your kid to work day? couldnt find anyone with experience? kinda apropos though to have ESG represented by a kid with no life experience and juiced full of righteousness and his parents tought disney vision of life
Ramaswamy lost me at "no methane leakage in the US fracking industry". Too hilarious. He should do his research...
@@MG2.5.4. Be specific. Which part did he mix up with what ? When you take on a scam like ESG which is basically based on promoting a neo-liberal Political agenda, of course it's gonna be focused on politics. Listing an oil company like Exxon above an EV company like Tesla on the ESG-ratings list isn't politics ?