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Notes -
You know there’s a meme I see pop up on message boards that “right thinks the left made them do it “.
I think this is true because partisanship now shows up everywhere which has caused the right wing reaction. This is problematic because now everything is politics.
One example I see is the entire etf industry. Not the specific esg funds but just normal spy. A lot of stock is in these etfs - the true owners of American companies. Most just vote according to what ISS tells them today and normal just approving board of directors or mergers etc. I don’t this the ISS is specifically woke but they don’t get into these issues. When Disney got out of their lane passive investors aren’t the ones to tell them to knock it off. Now boring functionaries because partisan fighting grounds.
Can you speak plainly, please? Your thicket of context-free acronyms is entirely impenetrable.
Thought these were common terms but maybe cause I work in finance.
ESG - environmental social justice
SPY - largest passive index for cheaply investing in the SP500. Basically they raise 100 billions and own the top 500 companies market cap weighted and charge minuscule fees like sub 10 basis points
ISS - Institutional Shareholder services. They tell a large of big money managers but mostly the etfs how to vote when corporate votes happen. Basically their outsourced fiduciary services.
The first two I got, but I was wondering why the International Space Station was telling ETFs how to vote...
That sounds like the start of an amazing David Icke-style conspiracy theory.
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