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Global Warming and Stocks
by David Sassoon - Mar 3rd, 2008
in
Here's a brilliant insight from Barry Ritholtz (hat tip to Sir Oolius at Grist). Take a look at the accompanying chart. It shows an unequivocal long term trend: The global temperature inexorably rising, starting in 1880. Here's Barry's million dollar question:
If the long term chart was a stock, would you short it?
For the record, Barry says he is no enviro-nut:
I am a big time energy consumer. I don't lecture anyone about their energy consumption. Anytime someone offers me a ride on a private jet, I jump at it. Yes, I dislike SUVs -- but that's because they are ungainly, unsafe, handle poorly, and go-too-slow. I personally have way too many motorized vehicles, all but one of which skew towards high-horsepower, go-fast, poor-fuel economy end of the scale. Trust me when I tell you a 6 speed manual transmissions in a V12 is not about saving gasoline.
He runs Ritholtz Research and Analytics.
Now, my own views on Global Warming are spectacularly conventional: Take 6 billion people, give them an industrial revolution; then for the next 2 centuries, have them burn all manner of carbon products. Its not too hard to imagine this activity might impact the system in which it takes place.
Nothing like common sense from a guy who provides insight into the stock market.
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