I have just ordered the missus to sell our holdings in Southern Co.
This is an American utility we purchased $3000 worth of last year, on the basis that they are building two nuclear reactors. Cool!
A small profit of $1100 has ensued.
Which leaves me with over $4000 to reinvest! Closer to $4500 with the saved dividends! Super cool!
Which makes me think: This could be the beginning of something beautiful. Arky’s unethical investing fund.
Coal? Tobacco? Oil? Munitions? Scold’s bridles? What are your unethical investing ideas?
With the rise of ethical investing and the stupid generations who think that everything can be 3D printed from pixie dust, there must be stuff out there vastly under valued.
Basically anything Norwegians won’t buy:
Norway’s massive sovereign wealth fund may soon rip up to $3.7 billion out of Australian fossil fuel companies after the Norwegian Parliament passed a tightened set of ethical investment rules.
The laws were adopted late on Tuesday night and mandated Norges Bank to divest the equivalent of $17.3 billion from its Government Pension Fund Global portfolio, which is better known as the “Oil Fund”.
While this amount is just a small portion of the trillions of dollars that the fund manages, it captures 11 high-profile Australian companies, according to a Norwegian government website.
I have been scanning annual reports looking for companies that don’t gibber on about the climate or how many sheilas they hire.
As that which big corporations seem to think of as “ethical” is anything that would find applause from a progressive lunatic ten years prior, the question is:
What would a conservative ethical investment fund look like?