Blackrock

There are three investment firms that own America and they are Blackrock, Vanguard and State Street. These three are the major shareholders in 40% of all publicly listed firms in the United States. Five years ago these firms began urging corporate leaders to assess the societal impact of their businesses, embrace diversity and consider how climate change could affect long term growth. Some early results of this new strategy are in the news these past few weeks and it does not look good. Bush beer and Target have seen experienced big stock losses because they tried unorthodox advertising based on diversity. The real danger here is that politics is interfering with the free market and hurting business. When companies decide to put some social issue in front of return on investment they must be more careful. These big three are encouraging investment companies to shy away from oil stocks in the name of climate change. Those who followed this advice lost out on a huge stock rise over the past 3 years. Exon for example was went from $39 to $115 since 2020.