So, what do you think of the prospects of cheap, value stocks in the energy sector that are deemed “dirty” by the ESG crowd. Coal, oil, and natural gas.
Do you think these are value traps, because of the ESG and virtue avoidance of large institutions? I’ve heard an interview, where a big bank executive (I think he was from JPM) said they can’t hold certain assets, b/c of how it looks to clients and the ESG crowd.
Mohnish Pabrai obviously hasn’t gotten the memo and is loaded up in these stocks.
Do you think they can multi-bagger over the next 5-7 years?
I’d rather hold gold or emerging markets over fossil fuel plays, but they are tempting and this is something I’m constantly wondering about.j