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道德与投资

[19] For better or worse, it appears that America is still moving in the direction of more gambling. So I think that casino and lottery stocks--issues like Scientific Games Holdings Corp., Mirage Resorts Inc. and Mandalay Resort Group--are good bets.

[20] The impulse to invest ethically is praiseworthy, but Im skeptical of one size fits all approaches to it. And I think anyone attempting to invest ethically should have respect for the complexity and difficulty of the task

Gaps problem

[21] For example, Pax World Fund, based in Portsmouth, New Hampshire, says it invests only in companies that treat their employees, their environment, and their communities with respect. Im sure it makes every effort to do so, but in an imperfect world, these decisions get mighty tricky.

[22] Pax Worlds largest stockholding is Gap Inc. Friday, Gap (along with some other retailers) lost in its attempt to dismiss a lawsuit accusing it of selling clothes made under sweatshop conditions in the U.S. territory of Saipan. In August, four other defendants in that suit, including Nordstrom Inc. and J. Crew Group Inc., agreed to settle the claims against them by establishing a $ 1.25 million fund to monitor working conditions of their Saipan workplaces.

[23] None of this necessarily means that Gap is a bad company, or culpable in the Saipan case. But it does illustrate the difficulty in making ethical investing decisions.