3 ESG Stock Picks From A Self Proclaimed ESG Skeptic
"ESG isn’t my beat but if it is yours, there’s still some great investments to be made."
I’m incredibly stoked to be able to bring you exclusive content from one of my favorite investors, Chris DeMuth Jr. Chris took the time to prepare his up-to-the-minute thoughts on the market exclusively for Fringe Finance subscribers this week.
In this piece, DeMuth - a self proclaimed ESG skeptic - offers up his Top 3 favorite ESG stocks that he owns.
Chris DeMuth Jr founded event driven hedge fund Rangeley Capital and research service Sifting the World. Rangeley’s strategy is to invest in mispriced securities with limited downsides and corporate events that unlock shareholder value. He also hosts Sifting the World, Seeking Alpha’s SPAC and event driven research product.
Chris also writes the Vale Tudo Substack, which can be found here.
Chris is one of the smartest people I’ve had the chance to meet during my time as an investor. He was one of the first people to ever take a phone call from me in the early 2010’s when I first started looking at the Questcor/Acthar scam. He was also one of the first people to be nice to me when I got my start on Seeking Alpha back about 10 years ago and is also widely respected by many people whose work I admire and follow.
All information contained herein is opinion only of Chris DeMuth & does not constitute investment recommendations. Nothing is a solicitation to buy or sell securities.
+EV v ESG
Do you have a mandate or interest in investing based upon environmental, social, and corporate governance / ESG concerns? I do not. My primary concern is investing in whatever is legal and analyzable with the most positive expected value / +EV. Good corporate governance certainly serves that end. Environmental and social concerns are essentially neutral other than their marketing impact. I prefer simple mandates: just maximize one’s wealth or that of one’s shareholders or investors. Then everyone can pursue their own philanthropic ends with the proceeds. I prefer to keep my for profit and non-profit efforts distinct.