The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 12 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Grantham study: Fossil fuel divestment cost less than 0.5% in performance
“Jeremy Grantham put out a document three or four years ago that said there was almost no cost to that exclusion. Okay, and this was when the divestment move really happened. People were extremely concerned about just the divestment point of view. So he went fr…”
Studies show capital-weighted fund returns lag time-weighted returns by 7.5%
“And so it's been documented that if a fund has a, say, for example, a 10% time weighted return, the studies have shown that the capital weighted returns about two and a half.”
Lawrence: China Yangtze Power made $5B cash flow with under $200M capex
“So last year it made about five billion dollars US of cash flow, and they had to reinvest less than two hundred million to maintain the dams, the hydroelectric dams.”
Lawrence: Fossil fuel industry outspends all climate philanthropists annually
“The fossil fuel industry spends way more than the whole group of climate philanthropists would pay, or would spend every year”
Lawrence: China's renewable energy investment far exceeds the rest of the world
“Number two, you need to acknowledge the amazing investment that China has made in renewable energy. It far exceeds anywhere else in the world, and yeah,”
Indonesian, Thai, and Korean equities fell over 95% in 1997-1998
“Indonesia, Thailand, Korea went down over 95% in dollar terms.”
China Yangtze Power converts 98% of its cash flow into free cash
“98% of their net free cash flow was Free because they had so little maintenance requirements on maintaining the dams.”
China Yangtze Power raised its dividend 85% with a 5-year guarantee
“They also announced an 85% increase in the dividend and guaranteed it for five years.”
Lawrence: Taekwang Industrial depreciated a $600M facility in three years
“In fact, he built a six hundred million dollar spandex lycra facility that were back-to-back facilities, and he depreciated the whole thing in three years. And he was a guy who didn't like to pay taxes, obviously. But as a result, the stock was at two times ea…”
Lawrence: Taekwang Industrial's CEO and his mother were jailed for misconduct
“About six years later, I got a newspaper clipping from a client of mine who'd been in Seoul, who had remembered this fight I had, and it was a newspaper clipping where the CEO was going to jail, and not only he put himself in jail through bad behavior, but he …”
Lawrence: Ørsted fully transformed into world's largest offshore wind generator
“Orsted used to be called Dong, which was the Danish oil and gas company. And 12 years ago, 10 years ago was classic oil and gas company. And it transformed itself. 100% transformed itself from an oil and gas company into now the largest generator of offshore w…”