From one of Wolf Richter’s commenters:
Buying the company you hate most has always been a profitable investment.
Strict Machiavelli. Made me think of a question that has always bothered me…
Divestment campaigns, where “socially responsible” fuckheads sell shares of uncool companies like tobacco and alcohol and Russia, make no sense at all. The “socially responsible” endowment is losing its own influence over the “bad” company. The “bad” shares will simply be bought by people who understand the above comment and appreciate the “bad” company. The new buyers will encourage the “bad” company to do more of what it does best.
New thought: Those Mach buyers create the divestment campaigns. If you want to buy more of a guaranteed profitable enterprise, but most of the existing shares are already held, you need to loosen up the holders.