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Ethics and Stock

2002-09-20 15:44:35+00 by Dan Lyke 3 comments

Mark Morford has some musings on stock ownership and ethics, no answers, but the usual questions.

[ related topics: Ethics Mark Morford ]

comments in ascending chronological order (reverse):

#Comment made: 2002-09-20 16:20:10+00 by: petronius

It is my understanding that a number of the socially responsibile funds included Enron in their portfolio. So, where's the ethics there? If you own stock you are, in fact, an owner of the company in question. Vote for a slate of officers who will do a better job. You don't have enough votes? Start finding like-minded people and do something.

I owned some stocks during the take-over craze in the 80's that wanted to adapt golden parachutes and poison pill stategies to hold off the barbarians. I consistently voted against them, because I thought they were bad for the company, its owners (me) and the employees. I don't remember if it worked, but I did my part. And just like voting in the election, if I don't participate i have no right to bitch when things go bad.

#Comment made: 2002-09-20 16:33:14+00 by: Dan Lyke

I think if you're going to be a socially responsible investor, you've got to stay away from mutual funds, or watch your funds like a hawk. Of course I've got a different notion of "socially responsible" than most people who advertise themselves as that, so generally none of those mutual funds make the first cut anyway.

What I'd really like to find better ways to do is invest more directly in my community, in enterprises of people I believe in. That's a tough thing to do.

#Comment made: 2002-09-21 02:27:49+00 by: meuon

Dan, you did. It's doing well. Thank you! If we can ever convert it to cash....