If you are thinking about green energy for your portfolio, Al Gore has a few words of advice: “Don’t do it.”
“Of course he does not say that in public,” says Bill Gunderson, president of Gunderson Capital Management. “Gore’s company still talks about how alternative energy is a good investment. How companies are adopting it, governments are subsidizing it and people are using it.”
But SEC filings from Gore’s company, Generation Investment, tell a different story, says Gunderson, who hosts a nationally syndicated financial talk radio program and writes for MarketWatch and TheStreet.com.
“Generation Investment says it is all about climate change, but it is just a typical investment fund with typical stocks,” Gunderson said.
“It has Amazon, Colgate Palmolive, eBay, Nielsen, Qualcomm, Strayer University and a smattering of stocks from biotech and health care. Not one company that makes solar panels, or windmills or biogas or electric cars. Catheters and commercial real estate, yes. Solar panels, no.”
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