The myth of the Marlboro Man - Baillie Gifford

Quitting tobacco and fossil fuels should no longer carry a wealth warning, writes Scott Nisbet of Baillie Gifford.

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The purpose of this paper is to challenge the widely-held perception 'you can invest in do-gooding companies if you like, but you will be giving up returns to do so. And my fiduciary duty is returns!'. The financial equivalent of a cigarette packet health warning, but for your wealth!

Scott Nisbet prompts the reader to wonder if this perception is not only out of date, but that it is actually perverse; that the ‘return concession perception’ is as passé as high-tar smokes or oil-fired stoves, and that much better returns are already coming from the other end of the investment spectrum i.e. companies that contribute positively to society.

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