Mark Neuman, CIO and Founder of Constrained Capital, discusses the challenges with ESG as we have seen it heretofore. ESG is sold as a panacea when in fact investors don’t know what they own. This leads to very imbalanced risks and inferior risk-adjusted returns. ESG investors are paying up for worse outcomes and failed objectives. The job of RIAs and investors has gotten more difficult with the false narratives in ESG. Investors need to do more due diligence and customize their investments to achieve clear goals.