<div class='quotetop'>QUOTE(burritos @ Jun 19 2006, 06:40 PM) [snapback]273676[/snapback]</div> When Bush was elected I went out and bought some oil stock mutual funds. Have done quite well. I will sell when his term of office is over and hope that the next President and congress will do a better job reigning in the power of big oil. Does this make me bad, and why???????
Is it bad to own tobacco, alcohol, and/or other sin stocks? You own stocks to make money in the market. It is the American way.
http://www.businessweek.com/magazine/conte...20/b3984001.htm You gotta know when to hold 'em and know when to fold 'em. It's possible that they'll go up but the time to buy 'em was during the nineties when they couldn't get increase prices and there was a real glut. Sort of past the peak there, old bean (get it? burrito, bean...heh heh heh)
<div class='quotetop'>QUOTE(burritos @ Jun 19 2006, 06:40 PM) [snapback]273676[/snapback]</div> I've been buying exxon and BP drips for the better part of 10 years. Of course the anarchist in me always votes my shares to oust all board members and I always vote against what they recommend and for what they recommend against(to no avail of course). Still a part of me feels guilty that I'm benefiting financially from oil companies but not guilty enough to sell the shares. And the guilt is almost entirely erased when I see SUV's fill up. Someone has to pay those divy's.
I decided a long time ago that we would not outlive our thirst for oil. Bought Mobil on DRIP in my IRA. I buy Exxon Mobil gas 99% of the time figuring I am putting a penny or two back in my pocket, not in someone elses. It's an old idea- if you can't beat 'em.... join 'em!
I'd say that, although the companies are evil, owning shares in them is not. Unless you own a significant percentage of outstanding shares and vote to support the board of directors. However, as another poster noted, now may be a foolish time to buy in, as the obscene profits at present cause the market to inflate the price in anticipation. You make money in the market by buying a company that the market expects to do poorly, but that then does well. Or by buying good solid growth companies and waiting a very long time.
I took my first business ethics course at the same time I took a really good finance course - I ended up changing my holdings a good bit. I realize my few shares of things don't really matter, but felt like I was finally putting my money where my mouth was. There were plenty of companies with excellent opportunities who have some sense of social responsibility. I didn't want to be profiting from things I really don't agree with. Now I profit from other things, and my conscience can bother be about something else. If you've got the time and resources to do some (or quite a lot of) research, it's easy to find stocks that perform well and share your priorities.
