The spirit of gain is leading many to invest in so-called sin stock
Not everyone cares about morality and health when it comes to investing. Many think morals and money do not mix. They maintain that investing should be to make money, period. They see nothing wrong with investing in "sin stocks." Sin stocks are companies that are anti-morality (e.g., weapons, gambling, pornography) and anti-health (e.g., tobacco, alcohol, caffeine). Here is how sin stock sympathizers do their work:
"Many financial advisers tell their clients to keep their social agenda separate from their investment goals. Most clients listen, the advisers said.
Joel Isaacson, a certified financial planner and principal at Joel Isaacson & Co. Inc. in New York, said the problem with screening out certain stocks is it's hard to draw the line. He rarely sees people avoid tobacco or the other sin stocks -- unless an investor has a relative who died of cancer. ...
Peggy Ruhlin, a certified financial planner and principal at Budros & Ruhlin in Columbus, Ohio, tells her clients tobacco stocks usually account for a tiny percentage of a mutual fund's holdings. She recommends they give their profits to charity if they really object -- but she doesn't know if anybody has actually made a donation.
Generally people don't care, she said. They want to make money.