WASHINGTON, DC / October 17th, 2022
Today, The American Conservative Values ETF (NYSE: ACVF) announced it has divested its holdings of and initiated “Refuse to Buy” ratings for PayPal Holdings, Inc. (PYPL) and Visa Inc. (V). They were liquidated as part of its periodic portfolio reconstitution and rebalancing. Both companies have been historically perceived as being hostile to conservative values. Their recent actions have caused considerable concern and outrage among politically conservative investors. The announcement also stated that AT&T has been reevaluated and brought back into the portfolio.
“Giving conservative investors the power to respond to such concerns is an example of why we built ACVF,” said ACVF President and co-founder Tom Carter adding “the management team continually seeks to better understand politically conservative investors’ sentiments and opinions as corporate reputations are impacted by news events and market performance.”
PAYPAL is the latest chapter in Big Tech’s war on free speech. The right to free expression is the most significant of all our liberties. It is the foundation of every right we enjoy and the reason our society exists in its current form. The First Amendment guarantee of free expression only extends to censorship by the government. What happens when a business with the same impact on your life as the government or a public utility suppresses speech and or access? The result is a stranglehold over a person’s livelihood when it disagrees with that individual. Liberal Big Tech companies have displayed a shocking tendency to assume the role of “thought police”, becoming the arbitrators of “truth”.
We must hold these companies accountable for their actions and insist on transparency. We need to vote with our wallets. Politically conservative consumers and investors have started to react, boycotting goods and services as well as denying them access to the capital they need. “ACVF is currently refusing to invest in 30 such companies,” said CEO and co-founder William Flaig, adding “I’m proud to offer an alternative to the S&P 500, which currently keeps 25 cents of every invested dollar from these companies.”
In the recent past, multiple right-leaning organizations say PayPal has removed their accounts on grounds of promoting hate, violence, or discriminatory intolerance. In Britain, 30 Tory MPs accused the giant online payment platform of launching an orchestrated and politically motivated attack on groups that champion free speech.
PayPal’s mindset has evolved into its recent announcement that it will fine users $2,500 for misinformation, then backtracked immediately. “PayPal just gave America their view of the future. There’s no going back” said Carter.
VISA and other credit card companies recently announced they would apply the International Organization for Standardization’s new merchant code to gun shop sales.
“The creation of the new merchant category code was celebrated widely by liberal Democrats and gun-control advocates. They have made it clear this is just the beginning of their campaign to block legal purchases of firearms,” wrote U.S. Senator Kevin Cramer (R-ND). Elected officials around the country have pushed back on the use of financial transaction information to surveil or discriminate against gun owners.
Denials from credit card CEOs that the codes create the ability for credit card surveillance of firearm buyers ring hollow and are unconvincing. “They have inserted their companies into a political debate and have become anti-gun activists. ACVF’s management has long held the conviction that politically active companies negatively impact their shareholder returns, as well as support issues and causes that conflict with our conservative political beliefs and values,” said Flaig.
Why single out Visa? ACVF balances boycotting with diversification and performance. Currently, we are comfortable boycotting two credit card companies. We are already boycotting American Express (AXP) and have targeted Visa for a boycott because not only are they the largest and most visible of the liberal credit card companies, but also give the most to democrats. Furthermore, let’s not forget their sponsorship of the Olympics in China, turning a blind eye to human rights abuses.
AT&T
Considering AT&T’s divesture of CNN earlier this year, we felt it necessary to reevaluate ACVF’s boycott of AT&T. The very act of selling one of the liberal media’s flagship properties, CNN to Warner Bros. Discovery, Inc. (WBD), is a positive for AT&T shareholders and greatly reduces the risk that politics will harm shareholder value. Ownership of CNN was a significant factor underlying our boycott of AT&T and as a result, we felt the boycott should follow the ownership change to WBD. ACVF divested of WBD on April 26th, 2022. “Compared to the other communication services companies we are currently boycotting, we feel AT&T (less CNN) is now no longer one of the worst of the worst in this sector. We feel reintroducing AT&T to ACVF’s portfolio will increase its ability to track the S&P 500 and could allow for more advocacy (boycotts) elsewhere,” said Carter
Links
InvestConservative.com
30sec Video
ACVF Factsheet
About ACVF
The American Conservative Values ETF (ACVF) is based on the conviction that politically active companies negatively impact their shareholder returns, as well as support issues and causes which conflict with our conservative political ideals, beliefs and values.
ACVF’s priority is shareholder returns and to provide an investment alternative for politically conservative investors. Simply put, ACVF seeks to boycott as many companies hostile to conservative values as possible without sacrificing performance. ACVF is designed to replace your current large-cap investments.
To schedule an interview with Mr. Flaig or Mr. Carter, please contact them at
wflaig@ridgelineresearch.com 301-685-7121
tcarter@ridgelineresearch.com 301-685-7122
www.InvestConservative.com
SOURCE: American Conservative Values ETF
https://www.accesswire.com/viewarticle.aspx?id=720686&token=c4u2502608w0rowgc5bw
