How to Fix the Stonks

This is the first paper we have seen that not only makes sense of the madness of GameStop/Robin Hood/reddit, but has clear, sensible proposals for how to remove the distortions and disincentives that create this inefficiency and volatility. James J. Angel: GameStonk: What happened and what to do about it The price dislocation in GameStop…

ESG Performance and the Credit Markets

Joshua A. Feltman and Emily D. Johnson, Wachtell, Lipton, Rosen & Katz write: Over time, we expect companies to find their cost of capital more directly tied to their ESG risk, which firms are lining up to help investors evaluate. All of the major credit ratings agencies have signed onto the Principles for Responsible Investment…