How should you react to the looming threat of climate change? By whipping out your checkbook and investing, Barry Ritholtz at Bloomberg argues. "Change and confusion equals opportunity," he argues, and there are already a host of innovative companies preparing for the crisis. He recommends McKenzie Funk's new book, Windfall: The Booming Business of Global Warming, a "hugely entertaining" look at how investors are and should be reacting. "There are macro opportunities galore."
"The closest parallel I can think of is that while 15th-century clerics insisted that the world was flat," Ritholtz explains, "savvy venture capitalists were investing in Christopher Columbus's Round-Earth startup." Sure, there are still people who believe that man-made climate change doesn't exist, and "thank goodness they exist—someone has to be on the losing side of the trade, and it might as well be the flat earthers." Click for Ritholtz's full column.