Anonymous has started their own informal hedge fund! Woo hoo!
And here’s a similar attack on Coke from the UK:
An anti-capitalist former stockbroker and the son of Sir James Goldsmith have launched an audacious attempt to halve the value of Coca-Cola’s shares.
The radical activist Max Keiser has joined forces with the editor of the Ecologist magazine, Zak Goldsmith, to launch a hedge fund that will donate the profits from short-sales in Coke’s stock to the “victims of Coke’s business model in places like India and Colombia”.
The idea is that as a boycott spreads the money in the fund will increase as shares in the company drop.
Mr Keiser, founder of activist website Karmabanque.com, believes the stunt will reduce Coca-Cola shares from their current value of $41 (£22) to $22 (£11). The campaign says it will “commit to as much money as it takes to take down Coke”, but Mr Keiser refused to say whether the son of the late billionaire had invested any money of his own in the project.
Everybody can think of at least one action that they can take that will show their personal resistence to the 1 percenters. Maybe never shop at another Wal-Mart ever again. Or only shop at a small local butcher or green grocer. It won’t be as big an action as starting your own hedge fund, but it will be enpowering nevertheless.
The coke link is from 2004.