We’re talking about around 4000 companies --like Apple and Microsoft going bust at once here. Like I said, I have cash on the side, but no more than I need for a few months of expenses.
Moving money into Premium Bonds, which I’ve done in the past, would risk no growth at all, a loss of spending power over time, and a slower turnaround than if I liquidated shares. It doesn’t work for me.
As for ESG being ‘high’ risk, at the moment I’d consider funds more heavily exposed to fossil fuels and vices to be more risky, especially if the last 18 months are anything to go by.
Yeah but there’s also the chance you get the 1m prize :^
Also share liquidation should have a similar time length. 2 days to fully sell shares, paired with a transfer outwards (BACS?) about 3 business days.
NS&I is a similar timeframe.
I think this shows a somewhat crude understanding of the energy field. I’ve made a good return on the energy market in general. “Fossil fuel bad” and all that.
The real drivers of this fossil fuel etc transition are the big guys. Exxon Mobil, Linde, etc. The small guys would have no way to make their move into the market without partnerships with these people who already have long-established chains.
They invest in the new era of energy on a regular basis. For example Exxon is heavily investing in carbon storage technology.
Tl;dr there’s money in hydrogen and other clean energy etc but in the end it’s the big guys that are going to see share value rocket considering they’re currently trading at a stupidly reduced value to assets & income that lets them pay out dividends / invest into other companies
The fossil fuel industry knew of the damage it was doing back in the 70s, but they’ve been pumping billions into misinformation ever since. Now we’re in a climate and biodiversity crisis and they’re still up to their old tricks. I don’t want my money anywhere near them.
Oil demand dropping off a cliff due to changing travel habits at the start of the pandemic is just icing on the cake. Until their regulatory future is settled --and I don’t for a minute think it is, they’re best avoided in the long run. We’re beyond peak oil now, and peak coal, so what future do they have besides greenwashing on an industrial scale?