It's hard to believe that exactly one year ago today I was invited by TEDx Jersey City to be a guest speaker for their annual talks. Though my talk has garnered some skepticism, the message still holds true: using the stock market as an instrument for change is something that should strongly resonate with Millennials all over the world.
Have there been any new issues that have been resolved through socially responsible investing? Of course! The most profound illustration has been the literal tanking (no pun intended) of Sea World's stock in recent years, especially following the release of the film "Blackfish," which gives a detailed examination of the brutality and horrible consequences that come from keeping orcas in captivity. It outraged the public so badly following its release at the Cannes Film Festival and subsequent broadcast on CNN, that one of its majority shareholders ended up shorting 19.5 million shares of the company's stock.
Whether or not they did this for moral reasons or greedy reasons is irrelevant: the impact is the same, which is that money will always reflect the demands of the consumer. And the consumer is angered, fed up, and looking for a drastic change to take place for the better. When the public wants it, investors will shift their money accordingly - even those who made 19.5-million-share bets on a company.
I truly believe that now, more than ever, the consumer has the ability to shift the health of the nation in a direction more profoundly than the government. All it takes is one more person to get on board the movement, and this is what Wall Street will become - an instrument of change.
And so, once again, for your viewing pleasure, please be sure to check out my (largely) still relevant message on socially responsible investing for Millennials and all future generations.
Thank you again for watching and reading!
Greetings, GradMoney Readers!
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