On Monday, the United Nations’ Intergovernmental Panel on Climate Change issued an important report on climate change. From the report: “Impacts from recent climate-related extremes, such as heat waves, droughts, floods, cyclones, and wildfires, reveal significant vulnerability and exposure of some ecosystems and many human systems to current climate variability.” Moreover, for “countries at all levels of development, these impacts are consistent with a significant lack of preparedness for current climate variability in some sectors.” In other words, climate change is a big problem and we’re ignoring it. That’s important stuff, if not exactly news.
John Tamny of Forbes (already notorious for an appearance on The Daily Show — video here) vehemently disagrees. His article explaining why provides a veritable treasure trove of examples of how not to do investment analysis, or analysis of any sort for that matter. Continue reading