Over the years we have heard and read a lot of very, very stupid things when it comes to "global cooling" pardon "global warming", climate change, ESG, and so on, but this may be the dumbest.

First the good news: Norway's sovereign wealth fund - the world's single largest stock market investor with $1.4 trillion in assets under management - made a mindblowing profit of $143 billion for the first half of the year, thanks to the growth of U.S tech companies (read the AI craze).

It helps that tech is the largest sector among the fund's equity investments, representing 11.9% of the its total value at end-2022; it also helps that the fund's holdings in tech companies jumped by nearly 39% in the period, with Apple, Microsoft and Nvidia as the stocks contributing the most, and helping to drive the fund's 10% overall return.