Not all of Generation Investment's picks in alternative energy are money losers:
is up 60% over the last year.
When I see a portfolio loaded with medical instruments and other health-related high tech as Gore's is today, I congratulate whoever had the foresight to put them there, whether they learned about them in my newsletter or not.
Every year I talk to hundreds of people about their portfolios. Never does anyone say they want to be in alternative energy, whether it makes money or not. Wind and solar and biomass are more popular with people who invest other people's money.
Like pension funds, for example.
Gore's company is investing hundreds of millions of dollars in public employee pensions in California and New York. Generation Investment's fees in New York alone are $30 million over three years, reports the
New York Post
At least someone is making some money off solar. Even if it is only Gore. Do they give Nobel Prizes for phony finance?
This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.