Climate Investing: $3B Hedge Fund Lessons + “Free the Money” for Impact

Discover how Howard Fischer went from hedge fund titan to climate impact evangelist — moving capital from spreadsheets to soul to fund game-changing climate solutions.My guest today is Howard Fischer, the Chief Evangelist at Gratitude Railroad and CEO of Basso Capital Management.Gratitude Railroad's mission is to support investors in moving capital from traditional finance to impact investments that create deep social and environmental impact, without compromising financial returns.His bio on the GR website is delightful in its brevity and insight into who he is. And I quote:“Uphill over downhill; Snow over sand; Read over watch; Trees over skyscrapers; Pizza over steak; Conversation over gossip; Disagree over agree; Instinct over spreadsheets; Relationship over contract.”In this episode, we talked about:His 40 years in hedge fundsHow his rebirth in 2013 while not religious was like a metaphorical move from Gordon Gekko to Dalai LamaHis financial reckoning during the 2008 financial crisis when his hedge fund went from $3B to $300MThe risks in wearing the golden handcuffs of fat paychecks from big-brand employersHow philanthropy is broken and government is not a great problem solverWhy we have to move more profit-driven capital to the climate sectorExamples of the climate investments they’ve made at Gratitude Railroad, including a focus on organic waste managementHis theme of “Free the Money” and related investments in Climate First Bank and First Women’s BankWhy we can’t ask people to eat their broccoli (sorry, you have to listen to understand what this means)Some of his favorite books, such as The Book of Joy: Lasting Happiness in a Changing World, Soulcraft: Crossing into the Mysteries of Nature and Psyche, and The Nutmeg’s Curse: Parables for a Planet in CrisisAnd lots moreHope you enjoy.And give Howard a shout-out on LinkedIn or Twitter by sharing this podcast with your people.---Entrepreneurs for Impact is on a mission to help climate innovators grow faster with new investment capital, share best practices among peers, expand their networks, and reach their full potential.Learn more:Climate CEO Mastermind Peer Groups — Our invite-only cohorts of 12 executives catalyze personal development and business growth via monthly meetings, annual retreats, and 1:1 coaching and strategy calls. Today’s highly curated Mastermind members represent over $8B in market cap or assets under management.Newsletter — A 3-minute weekly summary of climate tech, startups, better habits, and deep work.Programs are led by Dr. Chris Wedding — 3x founder, $1B of investment experience, and Duke University and UNC-Chapel Hill professor, with 60,000+ professional students taught, 25 years of meditation, an obsession with constant improvement, and far too many mistakes to keep to himself.