Patience . . .
A man named Michelangelo once said “Genius is eternal patience”. The great John Templeton had this to say about gaining knowledge; “If we become increasingly humble about how little we know, we may be more eager to search”.
These two principles have guided me throughout my life’s work. Each day finds me discovering information which may have some impact on how we manage assets, and adding much of it to my system for later review. Being patient in the world in which we live is hard at times, but without patience often comes results we meant to avoid.
I have been advocating patience for some time, and safety.
Bank of America Chief Economist: It Will Take Two Years, If Not Three, To Get Inflation To Target
Bank of America Chief Economist Michael Gapen said it "would probably take two years, if not three years to get inflation back down to the Fed's desired 2% range" in an interview with CBS News on Friday.
"I believe the figures show us that the labor market is still extremely hot," Gapen remarked. “You mentioned an unemployment rate that is the lowest we've seen since 1968. Thus, it is at a roughly five-decade low. There were 223,000 new jobs added in December. Although the pace has slowed, that is still a significant number in any typical expansion. Therefore, I believe that job seekers are still likely to have a lot of success at this time, and I believe that the labor market is still in very high demand”. - Breitbart
Disney Disaster - And Why You Should Care
The Walt Disney Company, which hastily brought back former CEO Bob Iger to stop the woke company's steep downhill spiral late this year, will abandon its control of TV networks ABC and ESPN in 2023, according to banking behemoth Wells Fargo.
The TV network and the cable sports network, both of which have been losing viewers, would likely be eliminated as part of the "major changes" Iger promised to implement, according to bank analysts, Fox Business Network reported.
According to FBN, "Spinning off the two networks is the optimal course of action and is likely to occur in late 2023, leaving the Walt Disney Company an appealing pure play intellectual property company."
Disney has been considering the notion for some time now, so if Iger makes the move, it won't come as a huge surprise to the industry. - Breitbart
Many corporate retirement plans use firms like BlackRock, Vanguard, and State Street. A quick look at the largest holders of Disney stock will show these woke investment firms to be the largest investors in Disney. If you have been paying attention to the direction Disney has gone lately, you may want to question the ethics of BlackRock, and their ESG investing direction.
Speaking of ESG Investing . . .
Nebraska state Treasurer John Murante, a former national chair of the State Financial Officers Foundation (SFOF), told Breitbart News that pushing the environmental, social, and governance (ESG) policy movement “is a real attack on farmers and ranchers in Nebraska.”
“We say all the time that we believe that ESG will be the CRT [critical race theory] of 2023. Once people find out what’s going on, they’re absolutely appalled,” Murante explained to Breitbart News about the leftist policy movement during an exclusive interview at the State Financial Officers Foundation (SFOF) conference last month, where state treasurers from across the country launched their strategy against ESG policies.
Looking towards 2023, the Nebraska state treasurer was referencing what he hopes many people, especially Republicans, want to happen to the leftist ESG movement. In 2020, CRT was a little-known movement compared to what it is today. One year later, during Virginia’s 2021 gubernatorial race, the outrage towards CRT helped Gov. Glenn Youngkin (R) win the election. Since then, in 2022, the outrage has continued across the country towards the academic and legal framework that denotes that systemic racism is part of American society.
ESG policies are a form of leftist activism in financial investing that has become the latest vector to influence the way Wall Street financial firms and corporations continue to take social and political positions that do not relate to their business, such as stances associated with climate change, as well as the Diversity, Equity, and Inclusion (DEI) agenda. Wall Street firms, such as BlackRock and others, sell ESG as a way to invest according to specific criteria that the political left pushes on voters and consumers. - Breitbart
Read my take on ESG Investing and more about BlackRock.
The Four Most Expensive Words In The English Language - John Templeton
