THE SUNDAY TIMES: Why the saints may beat the sinners
“Enthusiasts claim that, now more than ever, you do not have to compromise your principles in order to make a profit. But with oil prices hitting $60 a barrel, young people swilling alcopops like there’s no tomorrow and online gambling growing fast, can you afford to avoid sin stocks?”: “Oil prices are likely to stay high and this bodes well for the cashflow of companies such as Shell and BP. This, in turn, should create strong returns for investors.”
Sunday 3 July 2005
Alcohol, gambling and oil have proved lucrative, but green energy may be the next big thing.
By Jessica Bown
THE highly successful public launch of shares in Party Gaming, the controversial internet-poker operator, has highlighted the contrasting fortunes of the stock market’s saints and sinners — the goody-goody companies and those that make or trade in the likes of alcohol, tobacco, oil, arms or soft porn.
While Party Gaming was being prepared for its debut last month, ethical investing came of age as the first ethical fund, Friends Provident Stewardship Growth — now F&C Stewardship Growth — celebrated its 21st anniversary. Since its launch, it has turned £100 into £909, while the FTSE All-Share has turned £100 into only £400.