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Animal Spirits Podcast

Talk Your Book: The Opposite of ESG

Animal Spirits Podcast

The Compound

Business News, News, Investing, Business

4.72.1K Ratings

🗓️ 19 December 2022

⏱️ 37 minutes

🧾️ Download transcript

Summary

On today's show, we are joined by Mark Neuman, Founder and CIO of Constrained Capital to discuss companies orphaned by ESG, how capital is actually getting constrained, politics in investing, Coke & Pepsi vs alcohol & tobacco, and much more!   Find complete shownotes on our blogs...  Ben Carlson’s A Wealth of Common Sense  Michael Batnick’s The Irrelevant Investor  Like us on Facebook  And feel free to shoot us an email at animalspiritspod@gmail.com with any feedback, questions, recommendations, or ideas for future topics of conversation.      (Wealthcast Media, an affiliate of Ritholtz Wealth Management, received compensation from the sponsor of this advertisement. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. The information provided on this website (including any information that may be accessed through this website) is not directed at any investor or category of investors and is provided solely as general information.)  Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Today's Annel Spirits' talker book is brought to you by Constraint Capital.

0:03.9

Go to ConstraintCapitalETF.com to learn about the Constraint Capital ESG Orphans ETF.

0:08.8

That's Ticker ORFN.

0:11.2

Welcome to Annel Spirits, a show about markets, life, and investing.

0:16.0

Join Michael Batnik and Ben Carlson as they talk about what they're reading, writing, and watching.

0:22.1

Michael Batnik and Ben Carlson work for RIT Holt's Wealth Management.

0:25.7

All opinions expressed by Michael and Ben or any podcast guests are solely their own opinions

0:30.2

and do not reflect the opinion of RIT Holt's Wealth Management. This podcast is for informational

0:34.6

purposes only and should not be relied upon for investment decisions. Clients of RIT Holt's Wealth

0:39.0

Management may maintain positions in the securities discussed in this podcast.

0:43.3

Welcome to Annel Spirits with Michael and Ben. Michael, one of the books I read recently that

0:47.4

sticks out, how the world really works. That cloth's smell, I think I'm saying this name right.

0:52.4

It resonated with me because of what happened to the pandemic. This whole point was most people

0:57.8

just consume stuff and then don't really know what goes into the stuff they consume. His point is

1:03.1

it's not easy to make all the food in the world and push stuff around the globe and make things

1:08.1

happen behind the scenes. I think we learned that in the pandemic with all the supply shortage stuff

1:13.2

in the way that we've just had backlogs of everything. There's this whole thing moving around

1:18.9

and happening behind the scenes that no one really understands. Stuff just ends up in front of us.

1:24.0

We push a button. Stuff gets here. We don't know how it got there. There's a whole chapter about

1:29.0

the importance of energy. Basically, saying without fossil fuels, we would not be where we are today

1:35.0

in terms of progress and technology. He made the point that fossil fuels have been kicked to the

1:40.6

curb in terms of their importance over time. Without fossil fuels, we would never have made it to where

...

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