We live in the upside down. Black Rock appoints a member of the oil rich Saudi Royal Family as its Independent Director and drops the term ESG, weeks after filing for a #bitcoin ETF
Money and markets always win.
Discussion
Maybe this was the plan all along...
No I don't think so the blood they shed was from deep cuts and flowed hard. It is possible of course but even if so it can't have worked out as they planned.
As you say market's and money always win. They would have stuck with it if the funds kept making money. But as soon as the money stopped flowing, and company's took a hit by being associated with ESG policies the writing was on the cubicle door.
They will just rebrand and move on.
Oh they will bring some other form of environmentalism back in the future but the near term looks like oil, gas and bitcoin are going to be a big part of things. Have you noticed the press narrative on Bitcoin has shifted to it is environmentally friendly. Who do you think the real source of that is?
We have been explaining it for years but no one cared, now they are signing from the same sheet of music over night.
Yeah, I had noticed that.
The pattern likes to repeat itself.