Global Warming and "The Madness of Crowds" -- A Warning to Investors

Caveat Emptor on Green Funds, Eco Derivatives, Civic-Virtue Hedge Funds, and the like, cautions Avner Mandelman for Globe Investor.

This, in effect, is what's happening now: global warming has become a near-religious test of civic virtue, just as being invested in Internet stocks became a test of investment savvy in 2000. Which is why many investors dazedly held on to Nortel all the way down to zero, even after its accounting issues had been revealed. And now, even though you can't trust the climate change data, the Copenhagen conference still goes on and promoters including Al Gore are out begging the public to give the scientists the benefit of the doubt. This is the same Mr. Gore who is profiting from tax credit-based environmental investments.

Indulgences carbon credits, anyone?

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