LONDON (AP) — Authorities in Scotland have approved plans by President Donald Trump’s family business to build a second golf course in Aberdeenshire, despite campaigning from environmental activists.
The Aberdeen council published documents Friday showing it gave full planning permission for the development, subject to some conditions such as measures to minimize the flooding risk at the site, located on Scotland’s northeast coast.
The 18-hole golf course, to be named MacLeod after Trump’s mother, Mary Anne MacLeod, would be built next to the original Trump International golf resort on his Menie Estate, north of Aberdeen, which opened in 2012.
Local district officials had already approved the plan for the second course in September. Friday’s decision came from the larger Aberdeen council and is expected to be final.
Environmentalists have criticized the first Menie golf course for partially destroying the coastal sand dunes in the area, and say the second course could cause the dunes to further erode.
“The council sided with Trump International,” said Bob Ward with the London School of Economics’ Grantham Research Institute on Climate Change and the Environment. “They accepted the economic case over the environmental case.”
The existing golf course and luxury hotel at the estate have not been profitable since they opened. Trump also owns another luxury golf resort, Turnberry, on the other side of Scotland.
7 Stocks That Risk-Averse Investors Can Buy Now
If the title of this presentation piqued your interest, then you understand that there’s no such thing as risk-free investing. And that’s particularly true when you’re investing in stocks. The truth is sometimes the best thing that can happen is that your portfolio performs less badly than the market.
The goal of the risk-averse investor is not to avoid stocks, it’s to ensure that you retain the capital you gain, even if that means your portfolio does not grow as fast or as far as more aggressive stocks. You have to have a very low FOMO (fear of missing out) level.
With that in mind, there are still ways you can profit from this market without throwing caution to the wind. One is to look for stocks that have a low beta. Beta is a measure of a stock’s volatility in comparison to the rest of the market. A stock with a beta of 1, for example, means that investors can expect the price movement of the stock to be closely correlated to the market. A beta of more than 1 means the stock price will be more volatile (higher highs but lower lows).
What you’re looking for is a beta of less than 1. This means that the stock is less volatile than the broader market. While this may mean lower highs, it also generally means lower lows.
And many of these stocks are in defensive sectors. This means that their performance is consistent under both good and bad economic conditions.
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