Utopia Talk / Politics / So it turns out that jergul is rich

murder Member	Mon Feb 26 16:12:12 Why Norway is Becoming the World's Richest Country http://www.youtube.com/watch?v=RO8vWJfmY88 All these fucking Vikings do is win, win, win. ;o)
Rugian Member	Mon Feb 26 16:16:45 And yet just last week he was crying poverty over Norway's inability to simultaneously send aid to Ukraine and keep its own military in a combat-ready state. Which is it jergul? Is the Oil Fund the greatest money-printing machine since King Midas or not?
murder Member	Mon Feb 26 17:17:44 Being tightfisted is how most people get rich.
Rugian Member	Mon Feb 26 17:57:19 Except they're not though...the Oil Fund has a mandate to divest from otherwise profitable investments that don't meet a bunch of leftist SJW criteria. Politics comes before profits. "Nonetheless, the fund divested from 43 companies in 2021 that it considered “not to have sustainable business models,” including for issues where companies were “exposed to significant risks related to climate change, water management, and corruption.” That brought the total number of companies from which the oil fund has divested since 2012 to 366. Norges Bank Investment Management said earlier in 2021 that it would begin to “systematically assess the sustainability risk of companies that will enter the fund’s equity index.” Although the bank has not given specifics, it has assessed hundreds of companies since June, uncovering “risks related to inadequate management of environmental pollution and human rights . . . [that] could add financial risk to the fund in the long term.”" The entire point of an investment manager is to maximize returns for its clients...and the Oil Fund refuses to do that. If they can afford to waste money on random political initiatives, they can afford to send bullets to Zelensky.
murder Member	Mon Feb 26 19:20:08 "The entire point of an investment manager is to maximize returns for its clients...and the Oil Fund refuses to do that." Money isn't everything.
Rugian Member	Mon Feb 26 19:20:59 Agreed, money should mean less than a total Ukrainian victory.
Cherub Cow Member	Mon Feb 26 21:51:55 That 2022 quotation Rugian posted is exactly what I've been talking about, btw. This compliance with "sustainable business models" is a global phenomenon. They want everyone on the same framework, and their models do not realistically predict the consequences (e.g., causing WWIII).
jergul large member	Tue Feb 27 12:10:27 The nkr value is shit. We are not even the 6th richest country in Europe (measured by economic activity).
jergul large member	Tue Feb 27 12:14:37 Ruggy If you think that is bad.. The oil fund has a mandate to actively steer companies towards what you would call "SJW criteria" or risk losing a major institutional investor. 1000nds of companies have been nudged in that way with significan shareholder support (well, because, what happens to stock values if the fund starts liquidating its holdings gradually?) Ah the joys of AGM free-for-alls :).
jergul large member	Tue Feb 27 12:16:11 The point of an investment manager is to follow whatever whimsical instructions the investor might have for his capital and maximize profits within that framework.
murder Member	Tue Feb 27 15:35:32 jergul ... you had one job. "Eat me!" *sigh* :o\
jergul large member	Tue Feb 27 16:18:35 Once a contrarian...
Forwyn Member	Tue Feb 27 17:42:30 "Money isn't everything." Easy to say when the ability to freely tank your fund with ESG is dependent upon US defense subsidization.
jergul large member	Tue Feb 27 19:26:30 On the other hand, would not a filthy rich person bemoan his perception of poverty by chosing an inappropriate metric, like say measuring national savings abroad using domestic economic activity as a metric? Maybe it is go vikings after all?
	show deleted posts

Your Name:
Your Password:
Your Message: