You many have heard a while back about a new mutual fund — the Free Enterprise Action Fund — headed by Junk Science proprietor and legendary hack Steven Milloy. Milloy started the fund as a way to counter what he sees as the pernicious influence of so-called socially responsible investment (SRI) initiatives, which are (obviously!) nothing more than fronts for capitalism-hatin’ lefty special-interest groups. The fund launches shareholder initiatives at places like Goldman Sachs and GE demanding that the companies stop saving energy and cutting back greenhouse-gas emissions. Seriously.
Anyhoo, we didn’t cover this in Daily Grist or here, ’cause really, why give cranks the attention they so desperately seek?
However, Tim Lambert has a hilarious post up today reviewing the financial performance of the fund. It is, to say the least, less than stellar.
Sweet, sweet schadenfreude.