Instead of stocks and bonds, perhaps a slice of a portfolio should go to carbon credits, says this strategist.
Stocks, as measured by the S&P 500 SPX, have dropped 6% this year. Bonds, as measured by the S&P U.S. government bond index, also have dropped 6% this year. And looking at the longer term, future stock-market returns may be lower due to elevated valuations and slowing growth, and bond returns could struggle in a new inflationary environment, making the historical roughly 8% annual return for the 60/40 portfolio tough to achieve.
He adds that the cost of carbon credits are less than that of decarbonizing technology. “While eventually R&D breakthroughs will get to a point where the economics will switch, it does not appear that we are there just yet,” he says. The simplest way to add carbon credits, he says, is via the KraneShares Global Carbon Strategy ETF KRBN , which is benchmarked to the IHS Markit global carbon index. It should be noted that ETF’s year-to-date performance is….also a 6% decline.
The latest deadly attack from Russia was on rail stations in eastern Ukraine, where officials said at least 30 civilians died.Tesla TSLA CEO Elon Musk said there would be 2023 deliveries of the Cybertruck pickup and Tesla Semi at a nighttime event at the Texas gigafactory.
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