Posted on 02/08/2005 5:53:48 PM PST by wagglebee
Al Gore is putting his wallet in the balance and starting a new Earth-friendly investment fund.
You've heard of market timing, sector investing, cyclical investing and even "socially responsible" investing - no alcohol or gambling stocks in the portfolio, for example.
Heck, there's even "sin" investing - only alcohol, tobacco, adult entertainment and the like in the portfolio.
Now Al Gore wants to introduce you to "sustainable investing" - but ironically, only if you're among the group of the "wealthy" from whom Gore fought so hard to keep tax breaks.
Seems the former veep, along with some well-heeled partners like erstwhile Goldman Sachs honcho David Blood, is concocting a private partnership based in London to set up a fund that invests in solid stocks which also "stand out against more subjective measures, such as the ability to respond to regulations and consumer preferences that protect the environment and workers," according to the Newark Star-Ledger.
So, if you're an institution or individual with at least $3M, and you don't mind not touching your green for at least three years, the Gore has just the "responsible" fund for you.
Gore and his partners will try to invest in 30 to 50 stocks they think will outdo the rest of the Dow over a three- to five-year time frame, while at the same time choosing equity in eco- and worker-friendly companies.
Colin le Duc, head of research for the group, insists that the new venture will not make moral judgments regarding companies. "We're not ethical investors," he told the Ledger. "We're simply saying that companies that align themselves with environmental and societal needs are better companies."
And what's so different about this fund? Will it perform any better than similar funds? After all, according to the Ledger, Morningstar tracks 96 socially responsible mutual funds with over $36 billion in assets.
The money's only partly the point, says le Duc.
"Partners agreed to dedicate 5 percent of their profit to a foundation that will give money to organizations that foster sustainability issues. And the fund's 25 employees will get a chance to volunteer for some of the nongovernmental organizations that influence regulations and consumer opinion," writes the Ledger.
Chances are the fund will do well, says Greg Carlson, mutual fund analyst for Morningstar. "Socially responsible funds have been around long enough that there is enough evidence that, at least among funds that focus on large-cap stocks, they can do just as well as funds that don't use social screens."
As far as the former vice president goes, le Duc said Gore will not necessarily be taking part in stockpicking, but rather will try to stir up debate about issues that concern the partnership, which will hopefully raise the profile and the level of investment dollars for the fund.
"We're not just looking at it from a global theoretical level, but a hands-on level," le Duc said. "Investing the way we are will hopefully have a good impact on the world."
Well, you may get your wish. After all, everything Gore touches turns to dog-doo.
Algore will be as successful a investment broker as he was a politician. What a worthless turd.
See my comment above....seems that is what comes to mind when you think of that headcase, eh?
Actually, I hope after they all go broke they sue Algore's a$$ of for incompetence!
I think it is more fun to invest in the Vice Fund. It invests in people's vices.
http://www.vicefund.com/fundfacts.html
Great minds can quickly identify a pile of feces. :o)
Recently many have been saying that investing in ANYTHING other than "soch security" is a better deal than the return the gov't "yields" on dollars "invested". Well, here I think will be the exception. Except for the insiders who are at the top of Al Gore's little ponzi scheme of his own he's got going here.
Watch this deal and eventually it will likely make intelligent people wonder even more why Martha Stewart is in jail and morons like Al Gore are out and about taking the suckers to the cleaners.
Since his a$$ has never been competent in any field besides its direct physiological function [in Al Gore, though, it is going by the grand sounding name of "thinking"], their lawsuit would be thrown out on merits, for the idiot plaintiffs should have known better.
Would any legitimate stockbroker recommend this?
YES!
Mine said "go short"
Good.
This little scheme may just land him in prison or at least the poorhouse.
What is he re-inventing himself as now, Warren Buffet with a messiah complex?
Does anyone know if this joker is still on the Apple board of directors?
algore obviously learned from his airamerika ponzi scheme.
The left is always looking for ways to steal from their own.
The fool has said in his heart that Al Gore is smart..
What does that mean?
Wahahaha.
If the DUmmies had any money at all, they'd be lining up to toss money down this green hole.
no, socially responsible funds invariably have a dismal return. Its not a true asset class and all of these 'funds' are chasing a limited universe of companies in which to invest.
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