Updated: 5/16/2006; 12:24:16 PM.

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daily link  Wednesday, February 02, 2005


Investing for Change:  Good review of socially responsible investing (SRI), from a Microsoft millionaire.  Interesting recent history: In general, "SRI funds are at least as profitable as, or more profitable than, the Standard & Poor's 500 index, which is the traditional benchmark of performance for mutual funds and individual stocks. In his interview with Grist, eco-portfolio director Patsky said, "That proved true under Reagan, and Bush I, and Clinton: Stocks of companies that were good environmental citizens outperformed those that weren't." Amy Domini, founder of Domini Social Investments, says the Domini 400 Index has outperformed the S&P over the past year, the past three years, and the past 10 years. " 

But not true under Bush II.  I suspect that oil and miltary stocks had something to do with that.  And: Matt Patsky, portfolio director of Winslow Management Co., a "green" investing firm, recently told the environmental magazine Grist that " . . . for the first time ever, over the last two years . . . the best performing stocks in the S&P 500 were the companies that have been the most flagrant environmental polluters. .. Investors are starting to believe there is no liability: that the EPA is ineffective, that there is no enforcement, and that polluters will never have to pay the piper."

One graphic example:  "Last November, the Los Angeles Times reported an epidemic of 50,000 young children sickened by ingesting rat poison after the Bush administration removed two safety requirements for manufacturers: an ingredient that makes the poison taste bitter and a dye to make it more obvious when it's ingested. The Washington Post reported that the Natural Resources Defense Council has documents "showing that Bush's EPA not only worked hand in hand with the industry, but also complied when manufacturers wanted the risks associated with rat poison downplayed in EPA assessments." "

  9:43:09 AM  permalink  

 

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Last update: 5/16/2006; 12:24:16 PM.