Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean.
So the market is sane, right? Well. I’d missed this interview with the brilliant Joel Greenblatt in which he points out that a basket of UNPROFITABLE companies with market capitalizations of over $1 billion had seen their stocks rise almost 50 percent as of September 1st. (Thanks to @pcordway for including this in his own must-read list of must-reads.)
And the move toward stakeholder capitalism, in which companies care about ALL their constituents, not just shareholders, is going to result in a happy, peaceful world in which everyone prospers, right? Umm. Not so fast:
If you want a more in-depth historical look at this issue, read The Enlightened Capitalists, which is a sobering look at the fate of companies that have tried to do well by doing good.
This report gets into the gritty details of which firms have financed the fracking boom—a subject of interest to environmentalists and investors alike. (Thanks to Theron Horton.)