Author
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Topic: The myth of socially responsible investing
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MJ
rabble-rouser
Babbler # 441
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posted 03 February 2003 03:42 PM
click quote: Socially responsible investing is a contradiction in terms that tricks investors into feeling good about the capitalist system, says Canadian Auto Workers economist im Stanford. "We will not overcome the elite by picking ethical funds," Stanford said. The SRI industry is rife with "loosey-goosey" standards, he added, pointing to McDonald's, the Gap, Wal-Mart and the big banks as examples of questionable SRI fund holdings.If SRI performs as well as other types of investing, he said, it's probably because 90% of the holdings are the same. Stanford attacked negative screening for its "questionable economics," arguing that screening cannot hope to affect the cost of capital in a meaningful way.
[ 03 February 2003: Message edited by: MJ ]
From: Around. | Registered: May 2001
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