Golden State Today

Paul Tice, a writer, analyst, and adjunct professor, suggests that the prolonged stability in the market until 2020 led to a continuous search for new trends, with ESG becoming the latest focus amid Wall Street's shift towards a less innovative and more compliant approach. Tice was a guest on a recent episode of the Next Round Podcast.

“You know, the absence of volatility up until 2000, really up until the pandemic in 2020, has led the market to kind of grasp at new ideas and new shiny objects,” said Tice on the Next Round Podcast hosted by the Pacific Research Institute think tank. “AI, big data, cryptocurrency is probably the worst example. And I think ESG is just the latest, shiniest object in that process.”

“I think Wall Street is less innovative,” Tice said. “It's much more of a manufacturing facility right now than it was before. And I think a lot of that is because no one wants to get offside with the government and the regulators. And I think ESG is part of that. Another reason why you're not seeing a lot of people speak out about it.”

Tice has 32 years in fixed-income and credit markets, he's skilled in fund management and trading. He boasts 27 years of experience in energy and infrastructure investment, covering both buy-side portfolio management and sell-side research analysis. Tice contributes to publications like The Wall Street Journal and serves as an adjunct professor at NYU Stern School of Business, focusing on energy, infrastructure, and project finance.

Next Round is a weekly podcast put on by the nonpartisan think tank Pacific Research Institute. Topics explored on the podcast revolve around California politics and free market ideas in the state. Guests include elected officials, members of the media, and policy leaders. 

Pasadena, California-based Pacific Research Institute, founded in 1979, is an advocacy organization whose goal is to “champion freedom, opportunity, and personal responsibility for all individuals by advancing free-market policy solutions,” according to the group’s website. Its president is Sally Pipes. 

This full episode is available on Apple Podcasts and Spotify.