More thought police action against Disney

# South Carolina state treasurer halts Disney investing, says ‘far-left’ activism does not bode well for future


According to the internet Abraham Lincoln actually said this. Altho I have two different versions. Hmmm…? The second one sounds like his actual statement. The first sounds a little too politically adamant but maybe he said each at different times?

(deleted 2nd paragraph as potentially too political)

# “In this age, in this country, public sentiment is everything. With it, nothing can fail; against it, nothing can succeed. Whoever molds public sentiment goes deeper than he who enacts statutes, or pronounces judicial decisions.”

― Abraham Lincoln

In this and like communities, public sentiment is everything. With public sentiment, nothing can fail; without it nothing can succeed. Consequently he who moulds public sentiment, goes deeper than he who enacts statutes or pronounces decisions. He makes statutes and decisions possible or impossible to be executed.

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And in California the LA Times thinks that CalPERS must ditch fossil fuel investments.



According to the article, the state has $105 million in Disney debt in a $70 billion portfolio.

If my iPhone calculator is working correctly and my fat fingers are functioning properly and I remember how many zeroes are in a million and a billion (the last 2 conditions being, at best, a shaky proposition), then this represents 0.0015 of their portfolio.

And that is his focus? Idiot.

Just curious, is that 15 ten-thousandths? Food fight!!

I manage my own portfolio. If I found myself spending more than a few nanoseconds on .0015 of my portfolio, I’d fire myself.

Ms. Wolf has been trying to get me fired for years.


The figure that stands out just as much is what percentage of that $105 million is DIS’s market cap, which is about $170 billion at the moment. At first glance, it appears less than a tenth of a percent there, too.



0.15% is correct but this isn’t about yield but about principles.

I dumped Monster Beverage when I discovered how much sugar they were pushing. I’m sure no one noticed a blip in the MNST chart.

With AI sidelining the working class even further the power of the billionaire class becomes ever more dangerous. The checks and balances the Founding Fathers instituted in governance need to also exist in the economy.

The Captain


Selling an investment in Monster, or Exxon, because you don’t like their core business is one thing. SC is joining Florida, in punishing companies for daring to, in effect, say “all people deserve to be treated with respect”.



…is the definition of activism and “wokeness” now - at least with a sizable portion of the population.



Ironically a few months ago Nikki Haley, former Gov of South Carolina tweeted the following:


Someone didn’t get the memo.


That’s what happens when you are out of the loop for a couple years. The official narrative moves on.


That is a matter of opinion on which we seem to differ, with respect, of course. :wink:

The Captain

A few years ago, somebody commented/advised on TMF that the investor should evaluate an investment EVERYDAY as if it was a brand new, potential investing opportunity.
Ie, do the FA and TA and other evaluation metrics for the investment, and decide would you or would you NOT invest in the company today?
If NOT, then sell the stock and put the $ into a different investment in which you WOULD, today, invest.

That’s what I see the above “quote” saying, and that was PART of the linked article’s message.

I read it as a fiduciary question, not a choice based on politics.

Unfortunately, the article confuses and intertwines a “hook” (the “hate, woke, partisan esg meme”) with the the basic “is this a good investment today” fiduciary decision.

This “hook” pulls eyeballs to the article. It’s mis/disinformation, sensationalism.

Personally, I see a lot of bull poo headwinds for Disney, which causes me to conclude “Disney is not, at this time, a good fit for my port”.

The article:
{ As the “state’s banker,” Loftis, -----, manages approximately $70 billion per year. The State Treasurer’s Office portfolio contains $105 million dollars of Disney debt instruments that will mature as scheduled and will not be replaced. }

Like the SC fund manager (a person who is fiduciarily RESPONSIBLE for SC state monies) I would let the current Disney investments age out, and at that time evaluate appropriate uses for the monies, whether reinvest in Disney (with then current info), or put the funds into some other investment.


Loftis, ----- … remove the political assignation (a Republican), how does that change the reader’s emotions WRT the "decision '?


What is not stated is the declaration of which future is being discussed.

If talking about a political future in the GQP, that statement makes sense. However, with the number of GQP members dropping, then it may be just a matter of time before GQP becomes “who dat?”.

If talking about an economic future, then the person should be fired for professional incompetence. What we can’t see is the total return on the state’s portfolio and how Disney’s performance compares to that standard.

A most shrewd observation. The political sentiment obscures the financial - fiduciary message.

The Captain

Well, DIS has been on a downhill slide for over two and a half years (down over 50%) so it shouldn’t have been too hard to outperform that standard.

Over the past three years, the South Carolina RSIC (Retirement System Investment Commission reports an average return north of 10% annually. They certainly cleared the ‘Disney bar’.



DIS vs. S&P500 10 year chart

The Captain


What does the bureaucrat in question say?

“People sometimes forget that ESG has nothing to do with investing. ESG is a speech and behavior code that was created by the left and delivered to everybody else under these virtuous circumstances, or presumed circumstances,” Loftis said.

He is charging Disney with a thought crime. Other comments in the article are more provocative/bigoted than that. How much of DIS’ share price decline is because of actions like those of Loftis? There were posts on this board, months ago, about this new danger to corporations, the danger of being charged with thought crimes.


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What Is ESG Investing? ESG stands for Environmental, Social, and Governance . Investors are increasingly applying these non-financial factors as part of their analysis process to identify material risks and growth opportunities.

Anyone who refuses to follow ESG is charged with thought crimes.

The Captain


The reverse is also true.

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No it is about not having any principles.

Where did you get the idea there were principles involved?

Being called out for bigotry or wasting resources or lobbying the government corruptly is an agenda.

The establishment is switching sides from corporate America to labor/climate America. The establishment will resolve things. I have faith.

States going after corporations over abortion or gay marriage will be the losers.

I do not see any of it as a thought crime. We all know this is not 1984. Although we have been offered one day of dictatorship…

I see us as becoming the establishment. Washing out the older ways.

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