09-06-23, 11:36 AM
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Why value investors should doubt “climate science”
By nature they’re sceptics, and at key junctures become contrarians. I show why they should disbelieve the orthodoxy – and why it matters.
Chris Leithner
4TH SEP, 23
Excerpt:
The drumbeat has long been incessant, and lately it’s become deafening. For years, “the consensus” has decreed that “the science is settled.” And on 27 July, the UN’s Secretary General, António Guterres, proclaimed: “the era of global warming has ended. The era of global boiling has arrived” – and for good measure alleged that July was the hottest month of the past 120,000 years. The hyperbole extends to Australia. “Lethal humidity is already here,” said the mining magnate, Andrew Forrest, last week. “Millions of people will die. If you can’t get rid of that heat because of humidity,” The Australian (4 September) quoted him, “you cook yourself.”
Global investment institutions champion this dystopian consensus: the impact of climate change, they reckon, is massive, pervasive and permanent. GIC, the manager of Singapore’s sovereign wealth fund, reckons that it “is a systemic risk affecting all sectors and markets.” “Considering the direct threat it poses to global GDP and prosperity,” adds Bank of America Merrill Lynch, “climate change will likely become a more central feature of corporate decision-making in the years ahead ...”
LINK
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Following the herd has commonly been a bad idea yet that is what people in this "information age" still do thus fall into the herd thinking and be a conformist for perceived safety and belonging.
What an impressive article, this will be a permanent Sticky article in the forum.
Why value investors should doubt “climate science”
By nature they’re sceptics, and at key junctures become contrarians. I show why they should disbelieve the orthodoxy – and why it matters.
Chris Leithner
4TH SEP, 23
Excerpt:
The drumbeat has long been incessant, and lately it’s become deafening. For years, “the consensus” has decreed that “the science is settled.” And on 27 July, the UN’s Secretary General, António Guterres, proclaimed: “the era of global warming has ended. The era of global boiling has arrived” – and for good measure alleged that July was the hottest month of the past 120,000 years. The hyperbole extends to Australia. “Lethal humidity is already here,” said the mining magnate, Andrew Forrest, last week. “Millions of people will die. If you can’t get rid of that heat because of humidity,” The Australian (4 September) quoted him, “you cook yourself.”
Global investment institutions champion this dystopian consensus: the impact of climate change, they reckon, is massive, pervasive and permanent. GIC, the manager of Singapore’s sovereign wealth fund, reckons that it “is a systemic risk affecting all sectors and markets.” “Considering the direct threat it poses to global GDP and prosperity,” adds Bank of America Merrill Lynch, “climate change will likely become a more central feature of corporate decision-making in the years ahead ...”
LINK
============================
Following the herd has commonly been a bad idea yet that is what people in this "information age" still do thus fall into the herd thinking and be a conformist for perceived safety and belonging.
What an impressive article, this will be a permanent Sticky article in the forum.
“A theory that is not refutable by any conceivable event is non-scientific.” – Karl Popper
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