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Jan Fichtner @janfichtner.bsky.social Profile
Jan Fichtner @janfichtner.bsky.social

@fichtner_jan

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Senior Research Fellow SuFi Project @UniWH & @UvACorpnet | Global finance, age of passive investing, index providers, ESG, sustainable finance, decarbonization.

Germany, EU
https://t.co/pzo2vKFY1Z
Joined June 2016
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
11 months
🚨 new paper out in @RegGov_journal with R. Jaspert & @johannes_petry on #ESG Mind the ESG capital allocation gap: The role of index providers, standard-setting, and “green” indices for the creation of sustainability impact A 🧵on the main arguments:
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Mind the ESG capital allocation gap: The role of index providers, standard‐setting, and “green”...

Environmental, social, and governance (ESG) funds are among the fastest-growing investment styles. ESG investing thereby has a governing effect, and a key open question is whether ESG merely reduces...

onlinelibrary.wiley.com
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
1 year
🚨 Massive raid by 3000 police officers in Germany to stop right-wing conspiracy group that reportedly was planning a coup. Former soldiers, AfD politicians and a prince involved. Possible connections to Russia. 🚨 👀 crazy stuff.
@holger_stark
Holger Stark
@holger_stark
1 year
BREAKING: Bundesweite Razzien gegen rechtsextreme Verschwörer-Gruppe, die einen Umsturz geplant haben soll. 52 Beschuldigte, 25 Festnahmen, 3000 Polizisten. Alle Hintergründe und um was es geht hier:
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
7 months
Spot-on by @adam_tooze 🇩🇪 "required is an agreement among all mainstream parties to offer an alternative to the AfD with a concerted programme of public investment in housing & public services. If this requires circumvention of the debt brake, so be it."
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Germany must invest to neutralise the far-right threat

A once successful growth model has run out of steam and migrants are needed to fill labour market shortages

www.ft.com
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
8 months
BlackRock has replaced Allianz and Deutsche Bank as the most central shareholder in the ownership network of Germany Inc. Vanguard is now no. 2. ➡️Age of (passive) asset manager capitalism Figure by @dustin_voss h/t @PGolka
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
2 years
📕 New book "Trillions" by @RobinWigg of the @FT on the history of index funds and how this +$20 trillion industry is changing global finance (and maybe even capitalism too). A book review 🧵infused with some of the relevant academic research. Let's go.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
11 months
@fraaanie "Wärmepumpen-Bling-Bling" ist wohl der hohlste und intellektuell faulste Begriff, den ich hier seit langem gelesen habe. Autsch.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
7 months
📢 Great new paper by Albina Gibadullina "Who owns and controls global capital? Uneven geographies of asset manager capitalism" ❗️ A wealth of data and 14 (!) figures on the Big Three and asset manager capitalism. I'll post a few key figures...🧵(1/6)
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
1 year
👀Must see in 🇩🇪! Huge Thyssen steel mill site in Duisburg converted into a "landscape park" with playgrounds, climbing walls etc. You can climb the blast furnace (70 meters) and have a great view around. Even diving in the gasometer is possible. Unique and fantastic experience!
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
1 year
@Markus_Krall Wer gegen Wärmepumpen ist, ist nichts anderes als technologiefeindlicher Ideologe. Bei angemessener staatl. Förderung können die Bürger langfristig (!) viel Geld sparen und Firmen wie Bosch, Vaillant und Viessmann int. Spitzenpositionen einnehmen und damit auch Jobs sichern.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
4 years
Out now in @RIPEJournal - the first IPE analysis of the three big index providers MSCI, S&P DJI, and FTSE Russell: "Steering capital: the growing private authority of index providers in the age of passive asset management" @johannes_petry @UvACORPNET 1/n
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Steering capital: the growing private authority of index providers in the age of passive asset...

Since the global financial crisis, there is a massive shift of assets towards index funds. Rather than picking stocks, index funds replicate stock indices such as the S&P 500. But where do these in...

www.tandfonline.com
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
5 years
Simple visualization of global foreign exchange turnover in 2016, data from the @BIS_org - global FX trading resembles a hub-and-spoke network with the US-dollar as the predominant global hub, extremely difficult for any competitor to challenge the USD -
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
8 months
@Wissing Alle Experten sagen, dass dies so nicht stimmt. Und die starke Betonung der Formulierung "Nicht mit Verboten und planwirtschaftlichen Instrumenten" ist einfach nur populistisch und peinlich.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
10 months
The main function of US stock markets right now is to funnel capital from firms to investors (buybacks, dividends) - not to provide capital for large-scale investment to kickstart a green transition.
@djspratt
David Spratt
@djspratt
10 months
Financial Times editor: We need a new Marshall Plan on #climate . There’s too much to do, and given the urgency and the need to get the solution right, this isn’t a task for your favourite ESG-focused portfolio manager or the tech bros. The sheer scale of the physical…
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
10 months
@Wissing @FridayForFuture Der ausgebremste Umstieg auf EVs und das krampfhafte Festhalten an Scheinalternativen bzw. Nischentechn. wie eFuels und H2 werden höchstwahrscheinlich der Wirtschaft und dem zukünftigen Wohlstand in 🇩🇪schweren Schaden zufügen.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
3 years
1/2 Out now in Economy and Society @tandfonline The New Permanent Universal Owners: Index funds, patient capital, and the distinction between feeble and forceful stewardship
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
5 months
@CDU Herr Linnemann, nennen Sie mir eine Person von Rang und Namen in der Ökonomie die sagt, ein Staat müsse sich verhalten wie ein Haushalt, eine einzige! Diese Aussage zeugt von absoluter Unkenntnis der modernen Wirtschaftswissenschaft.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
1 year
New @diisdk working paper with @johannes_petry & Robin Jaspert on: Mind the ESG gaps: transmission mechanisms and the governance of and by sustainable finance Is it all #greenwashing or could #ESG have a sustainability impact? 🧵 with the key findings:
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
1 year
@maxmordhorst Die hohen Steuersenkungen für Firmen unter Trump haben nicht zu höheren Investitionen in die Realwirtschaft geführt, sondern zu höheren Gewinnen, die via Dividenden & buybacks ausgeschüttet wurden. Brauchen gezielten & starken Schub für diverse green technologies!
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
4 years
@LilyPurple311 @gabriel_zucman @WBHoekstra NL is the largest, what we have called, "conduit offshore financial center" catering to big multinational corporations. See our paper:
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Uncovering Offshore Financial Centers: Conduits and Sinks in the Global Corporate Ownership Network

Scientific Reports - Uncovering Offshore Financial Centers: Conduits and Sinks in the Global Corporate Ownership Network

www.nature.com
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
4 years
Excellent new paper by @BJMbraun on "American Asset Manager Capitalism" - a must read for people interested in corporate power and the new owners of the US political economy, clearly analyzing the fault lines of this new configuration:
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
2 years
@COdendahl The German state is not the best in tech, for sure. But which other states are already able to directly transfer money to all of their citizens? - not via cheque please 😉
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
1 year
🥳 I've joined the @BMBF_Bund funded project 🌿🤑 "Climate change and global finance at the crossroads: Policy challenges, politico-economic dynamics, and sustainable transformation" With @JWullweber @Hadryolix @JaninaUrban @nicolasaaguila @pau_lalu @RichiBaioni & @F_Kern_IOEW
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
2 years
China is publishing less and less economic indicators - lending support to the view that China's economy is not growing fast anymore. Q3/2022 growth might be as low as 2.7% Period of rapid catching up with the US already over?
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
3 years
@doctorow Indeed, academic publishing is controlled by a small group of extremely profitable firms such as RELX, Informa and SpringerNature. If you want to publish open access papers you have to pay about $3000!
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
3 years
🚨Must read for all IPE people! 🚨 Just finished reading the crucial "wake-up call" by @MatPaterson on how climate change has been a blind spot for IPE and what research avenues seem urgent and useful. @RIPEJournal this paper needs to be open access!
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
1 year
🇺🇸💰 Trillion dollar question: US portfolio holdings of foreign securities are the highest for which country? Japan, China, Germany? Another country? What do you think? 🤔 ... Small 🧵about global finance. Let's go ⬇️
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
2 years
Great article by @adam_tooze : Tackling climate change is all about the specific political economies of key countries, much more than only about new technologies! So much research to do for international political economy scholars in the coming years.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
4 years
Great new paper by @CalebNGriffin on the ownership and voting power of the "Big Three" passive asset managers in the Fortune 250 companies. The Big Three now have the power to decide 50%+ of all ESG proposals!
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
3 years
@benjaminhaddad The Anglosphere countries arguably have the closest relationship in matters of defence and intelligence cooperation (Five Eyes) possible between sovereign countries. This episode brings this reality to the fore again.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
4 years
Thread: Anglo-Dutch oil giant Shell published its very first Tax Contribution Report with granular country by country numbers for revenues, profits and employees. Some very interesting information in there! 1/3
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Shell Tax Contribution Report 2018 - Home

Welcome to the Shell Tax Contribution Report, which aims to provide easily accessible and detailed information on Shell’s taxes for 2018. This report builds on the information Shell discloses in its...

reports.shell.com
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
2 years
Put in anything (e.g. titles of papers) and see what comes out: This is what the algorithm generated from "BlackRock, Vanguard and State Street" 😆 What do you think @DanielaGabor @MadisonECondon @BJMbraun @vgalaz @johannes_petry ?
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
5 months
US debt is the backbone of the global financial system.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
5 months
@Thomas_Bareiss @CDU @cducsubt Erst viele Jahre lang gegen Erneuerbare & EVs sein, die Schwarze Null verehren und dann aber trotzdem laut meckern wenn solch eine Förderung eingestellt wird. Chapeau, das erfordert schon eine extrem hohe geistige "Gelenkigkeit"! 😉
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
7 months
@MatthewKroenig America's share of global GDP significantly understates the influence of the US in the global political economy. UK, AUS & CDN are closely integrated with the US. Plus, share of global finance is much greater.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
2 years
@ChristianAlpers @ianbremmer Seems like two floating LNG terminals will begin operation in December 2022 or January 2023. Not a huge amount but still.
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Germany signs deal with gas firms to supply two floating LNG terminals

Germany signed a memorandum of understanding (MoU) on Tuesday with the country's top gas importers to safeguard the supply of two floating liquefied natural (LNG) gas terminals it needs to reduce...

www.reuters.com
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
2 years
@adam_tooze @MkBlyth @BJMbraun @DanielaGabor @sanha926 @investigate_eu @RobinWigg Hi Adam, great post! May I add "Steering Capital" by @johannes_petry , myself and E. Heemskerk as an additional reading? The major index providers are a key component of the new era of index investing; e.g. skyrocketing MSCI largely defines what ESG is. 👇
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
11 months
@Axel_Bojanowski Wenn Ihnen 10 Ärzte d Diagnose für Ihr Kind geben: langsam wachsender Krebs - könnte in 20-30 Jahren tödlich sein. Würden Sie dann bestehende Therapien einsetzen, den Krebs zu heilen oder würden Sie sagen: "Ach, würd schon nicht so schlimm werden. Wer weiß, ob das üb. Krebs ist."
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
4 years
@TaxJusticeNet Two background readings for anyone interested in the role of the Cayman Islands in global finance: the classic "Small Place, Big Money" by Susan Roberts and "The anatomy of the Cayman Islands offshore financial center" by yours truly:
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The anatomy of the Cayman Islands offshore financial center: Anglo-America, Japan, and the role of...

The Cayman Islands is a key node in contemporary global finance, yet it is severely under-researched. This paper compiles the first ‘anatomy’ of the Cayman offshore financial center (OFC), utilizin...

www.tandfonline.com
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
10 months
📢Jamie Morgan did a long interview with me for the Real-world Economics Review about » Why Hedge Funds Matter « Open access here: We cover almost every aspect of the role of hedge funds in global finance. Below is an analogy how one can see HFs.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
1 year
You might have guessed it by now if you are a global finance geek... Tadaa 🎺🎉 The Cayman Islands - of course. This tiny jurisdiction (not country!) under UK sovereignty has over $2.8 trillion of US portfolio holdings ($2tn equity!). Why?
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
5 years
Fascinating new paper: The Architecture of Power: Patterns of Disruption and Stability in the Global Ownership Network by @jnode and @zbattiz
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
3 years
We @johannes_petry @UvACORPNET have published a "big read" for the weekend titled "It's the index, stupid! Our New Not-So-Neutral Financial Market Arbiters": citing articles by @tracyalloway @johnauthers @Birdyword @adri_robertson @RobinWigg
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It's the index, stupid! Our New Not-So-Neutral Financial Market Arbiters

Guest Piece

nathantankus.substack.com
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
4 years
@MaxJerneck Just completely divorced from the real world 😑
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
10 months
🚨 New book by Andreas Nölke: Second Image IPE: Bridging the Gap Between Comparative and International Political Economy
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Second Image IPE
link.springer.com
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
2 years
💥 Extremely excited to announce that I have been awarded an ERC Advanced+ Grant for my project "Global Finance Redux: ESG, Machine Learning, AI & Index Funds" (GFRESGMLAIIF)... 🧵 (1/7)
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
5 months
@Ronald_Sl Sie erscheinen mir sehr Technologie-feindlich zu sein. Wärmepumpen sind eine exzellente Technologie um effizient und ohne CO2 zu heizen. Dazu wird endlich Fernwärme ausgebaut. Was ist Ihr Vorschlag für Wärme in 🇩🇪? Alles so lassen? Neue Ölheizungen? Bitte sagen Sie!
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
11 months
@ianbremmer Note that guy with the black anti-vaccine t-shirt. In Germany most pro-Putin people are also climate change deniers and anti covid vaccine. Is that everywhere the case?
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
5 months
@BerlinReporter Mit Verlaub, aber wer immer noch nicht erkannt hat, dass EVs, Batterien (zB neue Natrium-Ionen! Redox-flow etc), Wärmepumpen & Elektrifizierung allg. die Zukunft sind, zerstört die langfristige Wettbewerbsfähigkeit der 🇩🇪 Wirtschaft! Efuels werden Nische bleiben (Flugverkehr).
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
5 months
@f_schaeffler Warum bei wirklich Bedürftigen sparen anstatt Leute, die zB über €250.000 verdienen ein ganz bisschen höher zu besteuern? Oder völlig leistungsloses Erben besteuern - natürlich mit sehr hohem Freibetrag zB €2 Mio pro Person?
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
2 years
We are in the age of index investing. Evidence is emerging that this new era of finance led by the Global North will be more centralized. "Passive" funds invested in the Global South more likely to exit in crises than other sources of finance. A mini-🧵:
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
5 months
@StefanKooths Der Vergleich ist unseriös und extrem unwissenschaftlich.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
3 years
@DrSimEvans Not really a surprise but still pretty astonishing to see that the US & Canada with ~360mn people still have twice the historical CO2 emissions of China 🤯 In a perfect world the US would feel this moral obligation and start to act forcefully to avert the worst.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
3 years
Are ESG scores by three major providers correlated? Well, not quite. Source:
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
8 years
New analysis of the Cayman offshore financial center - Anglo-America, Japan, and hedge funds play key roles. Paper:
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
4 years
The Wealth Defence Industry: A Large-scale Study on Accountancy Firms as Profit Shifting Facilitators Great new @RIPEJournal paper by @LAjdacic @UvACORPNET & @javiergb_com on the Big Four accounting firms and aggressive tax planning strategies by MNCs.
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The Wealth Defence Industry: A Large-scale Study on Accountancy Firms as Profit Shifting Facilita...

Corporations increasingly engage in innovative ‘tax planning strategies’ by shifting profits between jurisdictions. In response, states try to curtail such profit shifting activities while at the s...

www.tandfonline.com
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
1 year
Background reading on some key aspects of Cayman's outsized role in US and global finance below. TL;DR: Cayman is integral part of Anglo-America (common law jurisdiction, law&accounting firms) Cayman will remain a key node in global finance. END. cheers
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The anatomy of the Cayman Islands offshore financial center: Anglo-America, Japan, and the role of...

The Cayman Islands is a key node in contemporary global finance, yet it is severely under-researched. This paper compiles the first ‘anatomy’ of the Cayman offshore financial center (OFC), utilizin...

www.tandfonline.com
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
3 years
@microbear1 @emorwee @PeteDominick It's a good start but not nearly enough to mitigate climate change. Close all coal power plant and stop all methane emissions now would be crucial. We need politics to act now.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
9 months
@AminSharaf @NATO_Enthusiast @ElliMabe @Perowinger94 Das ist doch Unsinn. Das Abschalten der AKWs ist doch nicht die Ursache für Nullwachstum. Inwiefern "verzichtet" D auf Erdgas? Das meiste was Sie anführen trifft doch zB auch auf NL und DK zu. Vieles was Sie schreiben riecht nach Ideologie - und nicht nach Rationalität.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
4 years
What is wrong with LinkedIn's algorithms??? 🤔
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
1 year
"EU ex Ireland" should become a standard category for all major economic statistics. This tax haven/booking center for US MNCs skews the data.
@phdskat
Rasmus Corlin Christensen
@phdskat
1 year
I regret to inform you that the Irish GDP statistics are at it again.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
5 months
@ChristophBeisl1 Ah 😱, in Frankreich gibt es bestimmt eine riesige Debatte über die "Abhängigkeit" von deutschem Strom und alle Medien machen total Panik wie in Deutschland, oder? Oder?
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Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
2 years
@Ash_2070 @COdendahl Please relax. It was an honest question. German agencies can transfer to millions of people but not to ALL citizens. That was my point, to be educated my other people on the situation in other countries.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
10 months
This. 👇
@waiterich
Richard Waite
@waiterich
10 months
Fact check: 1) Deforestation & other land-use change account for >1/4 of CO2 emitted since 1750. 2) Agriculture & land-use change are responsible for ~1/4 of recent annual GHG emissions. 3) Keeping warming below 1.5C is impossible without changing food production & consumption.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
8 months
@christianduerr „Schuldenbremse ist für mich Angst vor der Freiheit, man unterstellt man könnte nicht selbst haushalten.“ @adam_tooze Klimawandel, Digitalisierung, E-Mobilität, Infrastruktur. Es gibt sehr viel Investitionsbedarf. Schuldenbremse führt zu weniger Wachstum!
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
1 year
@scienceisstrat1 @Noahpinion @erikbryn @ylecun @AlecStapp @paulg Arguably one key reason why UK is so light on R&D is that they chose financial services as the growth model for their economy. Not much R&D in finance tbh. Canada so low due to quite large share of resource extraction and agriculture?
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
1 year
@BrianGitt In what kind of fantasy world are you living?!? The costs of wind & solar are dropping massively. Even in Texas they roll out renewables quickly. Massive R&D in energy storage tech. Have you seen the landscapes around oil wells? Way more destroyed than renewables ever could.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
7 years
New @UvACORPNET paper: Hidden power of the Big Three? Passive index funds, re-concentration of corporate ownership
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
5 years
@UvACORPNET wp out: The New Permanent Universal Owners: Index Funds, (Im)patient Capital, and the Claim of Long-termism. We provide novel findings on the combined ownership of the Big Three in 17 stock indexes from nine countries and analyze their voting behavior on buybacks.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
10 months
Some good news.
@AkshatRathi
Akshat Rathi
@AkshatRathi
10 months
China already has nearly half of all solar and wind built. And that means it will reach its own renewable goals in 2025, instead of 2030. This is one reason why analysts are becoming more confident that China's emissions will peak soon.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
9 months
@f_schaeffler Ja genau! Habeck hat auch Schuld am Gaspreisschock, durch den Angriff Russlands auf die Ukraine. Er hat auch Schuld, dass D so wenig in Infrastruktur inv hat seit 20 Jahren. Er hat eigentlich an überhaupt allem Schuld, oder? Gott, ist Ihr Denken beschränkt!
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
8 months
@christophploss Alle, wirklich alle Experten sagen, dass e-Fuels knapp und teuer bleiben werden und daher vor allem für den Flugverkehr benötigt werden (sagt auch der Lufthansa CEO). Oder evtl. für Schiffe. EVs sind einfach extrem viel effizienter - wer das nicht einsehen will ist Ideologe!
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
11 months
@f_schaeffler Leugnen Sie eigentlich den Klimawandel noch? Frage für die kommenden Generationen, deren Freiheit massiv bedroht wird - wenn wir die Emissionen nicht schneller runterbringen.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
1 year
@Markus_Krall Ich kenne sehr viele mit mRNA Impfstoffen geimpfte Leute - jung und alt - und alle haben es gut vertragen. Die meisten hatten ein paar Tage Müdigkeit, eine Person hatte einige Wochen Müdigkeit. Niemand hat ernste Spätfolgen.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
6 months
📢 Carbon bombs under the spotlight Transparent data and visualization about the world's biggest fossil fuel extraction projects, and their links with companies and banks A project led by two French nonprofits 👇
CarbonBombs.org

CarbonBombs.org is a tool to follow the evolution of carbon bombs in the world.

www.carbonbombs.org
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
7 months
@BerlinReporter @RenateKuenast @HolzheuStefan @CDU Allein das Wort "Verbotsorgien" disqualifiziert Sie von jeder seriösen Diskussion! Länder wie Dänemark lachen über uns, weil Leute wie Sie Wärmepumpen schlechtreden. MAN aus Augsburg baut in DK eine riesen WP, die das gesamte Fernwärmenetz von Esbjerg versorgen wird!
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
4 years
Question for #Finance twitter: How will the financial system look like in 2030? A Huge passive index funds segment dominated by Vanguard & BlackRock and a "premium" segment in which elite hedge funds skim off profits using the best brain power coupled with AI & quantum computing?
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
2 years
Apparently I have become a Green Finance "Influencer" - whatever that means exactly. What I do know is that A LOT of influencing still needs to be done to make finance truly green and sustainable.
@Minh_Q_Tran
Minh Q. Tran
@Minh_Q_Tran
2 years
Top 25 Green Finance Influencers - February 2022 — Mandalore Partners | Corporate Venture Capital-as-a-Service
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
11 months
@giulio_mattioli It's a shame. When the "traffic light" coalition started I really had a tiny bit of hope that the FDP could push for modernization, technology, cutting unnecessary red tape etc. But all they do is playing this populist fossil fuel card. We're losing precious time to act 😡😣😢
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
4 months
@SaxoniaConserva @Perowinger94 Das Wort "Endzeitsekte" disqualifiziert Sie von jeder seriösen Diskussion. Die Befunde der Klimawissenschaft zeigen ganz eindeutig, dass langfristig der Klimawandel sehr schwerwiegende Konsequenzen für die Menschheit haben wird.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
5 years
My chapter on "The Rise of Institutional Investors" from the excellent forthcoming Routledge International Handbook of Financialization, edited by Phil Mader, @DanMertens & @NataschaZwan is now available on @socarxiv
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
6 months
"A world with terminally declining oil demand has never been experienced before, but the growth era for fossil fuels is ending, as many producers, investors and forecasters are acknowledging." @jainfamilyinst @kmac @70sBachchan
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
4 years
Pre-print of forthcoming paper in Economy and Society now at @socarxiv The new permanent universal owners: Index funds, patient capital, and the distinction between feeble and forceful stewardship A brief thread: (1/6)
The new permanent universal owners: Index funds, patient capital, and the distinction between...

Fundamental change is happening in global finance – the shift from active management to index funds. This money mass-migration into index funds has far-reaching socio-economic consequences, as it has...

osf.io
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
4 years
A short thread showing a few figures from the brand-new 2020 Investment Company Fact Book: Massive shift from actively managed funds ($1.7 trillion outflows) to passive index funds ($1.8 trillion inflows) continues in the US. 1/4
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
4 years
🤑📈📉🤑 Check out this brand new online tool for comparing how index funds by BlackRock, Vanguard and State Street have actually voted on ESG proposals at Annual General Meetings of US firms: #ESG #sustainablefinance
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
4 years
Profits per employee are a stunning US$228 million in Bermuda, US$29 million in the Bahamas and US$13 million in Switzerland! In the US Shell reports a profit of just US$100,000 per employee. 3/3
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
1 year
The UK is 2nd largest destination of US portfolio holdings with a massive $1.6tn - Canada #3 with $1.5tn and Japan #4 with $1.3tn (all large equity and debt holdings). Data is from Treasury International Capital (TIC).
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
7 months
@Thomas_Bareiss @welt @WELT_Economy Warum haben Sie dann für den Atomausstieg gestimmt? 🤔
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
2 years
This is how "International political economy" looks like according to Would be a fantastic book cover, wouldn't it?
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
9 months
@_freidel Herr Freidel, ich bitte Sie - als ob die paar jüngst abgesch. AKWs einen großen Unt. machen würden! Der Ausstieg wurde 2011 beschl.! Beklagen Sie sich bei Altmaier & Co, dass über 10 Jahre zu wenig in Wind&Solar investiert wurde. Für d Gaspreisschock kann Habeck auch nichts.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
9 months
@energybants Do you have any other topics than German nuclear reactors?? The speed of the roll-out of solar&wind is currently incr. significantly (should have been done 10 years ago). Wait 3-4 years and then check how electricity production looks like. Nuclear will remain off. Live with it!
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
2 years
💥 For the first time ever, the assets under management of a financial institution have passed the $10 trillion threshold! I.e. BlackRock now manages assets greater than the entire market capitalization of all listed firm in the 19 eurozone countries. 💥
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
1 year
The Cayman Islands is the domicile of choice for most US hedge funds (~$4.5tn AuM), which then invest back in US financial markets (and elsewhere). Also some private equity funds are domiciled there. As you can see, US holdings in Cayman have been growing quite rapidly.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
2 years
@shashj I can't get the Ukrainian Bayraktar song out of my head - catchy tune. Will they make a real difference in the war?
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
2 years
21/ Trillions is an excellent start but as @BJMbraun & @adribuller write: "The era of asset manager capitalism constitutes a new corporate governance regime whose implications for power & control in the wider economy we are only beginning to understand."
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
4 years
New: "The world's largest asset managers 2020" - a 🧵 AUM of the world’s top 500 managers increased by 14.8% in 2019 to $104.4 trillion. The US continues to dominate with almost 60% of total AUM. Now 15 US asset managers in the Top 20, up from 13.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
2 years
5/ A famous poster from the 1970s even claimed that index funds are "Un-American" because they did not even try to beat the market but merely replicated the average.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
8 months
Great paragraph on the emerging "index fund managerialism" by John Coates in The Problem of 12: When a Few Financial Institutions Control Everything.
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
2 years
10/ Even more consequential was the launch of the first exchange traded fund or ETF by State Street in 1993. ETFs proved to be a key new investment technology that enabled giant "passive" asset managers, such as BlackRock. See this paper by @BJMbraun :
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From performativity to political economy: index investing, ETFs and asset manager capitalism

As a discipline, political economy has often been reluctant to engage with the details of market devices and practices. This weakens the microfoundations of its analysis of capitalist macro-dynamic...

www.tandfonline.com
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@fichtner_jan
Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
11 months
Decarbonization is not a technological problem - it is a problem of political economy (powerful opposed interest groups). 👇
@drvolts
David Roberts
@drvolts
11 months
I'm not sure it's widely understood that we basically know how to decarbonize everything in the energy system now. There are areas & sectors where the solutions remain quite expensive, but we know how to bring down costs over time. Jets, ships, steel, concrete -- all known.
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Jan Fichtner @janfichtner.bsky.social
@fichtner_jan
5 years
Important paper "The Common Ownership Trilemma" by @joseazar argues that it is impossible to achieve the following objectives simultaneously: (1) portfolio diversification, (2) shareholder representation, and (3) competition
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