国产一二三四五路线-国产一级高清-国产一级毛片卡-国产一级毛片一区二区三区-中文字幕在线视频播放-中文字幕在线高清

您好!歡迎訪問忙推網! 字典 詞典 詩詞
首頁 教育 英語美文:道德與投資|智慧背囊

英語美文:道德與投資|智慧背囊

時間:2024-07-19 23:22:49 來源:網絡 作者:mrcsb 人氣:11626
【導讀】:Investing in Vices道德與投資A tricky question in investing is how much of a role ethics should play in your stock selections.Should you invest in companies that...

Investing in Vices

道德與投資

A tricky question in investing is how much of a role ethics should play in your stock selections.

Should you invest in companies that manufacture weapons? What about nuclear power? Alcohol? Gambling? Tobacco? Those are the "Big Five" in terms of ethical decisions. They tend to provoke the strongest emotions, and come up most often in discussions of ethical investing.

But the list could go on and on. Should you invest in companies that have been fined for polluting the environment? Companies that have been sued for racial discrimination? Companies that don’t have women in key positions? Companies that do animal testing? Companies that sponsor sexually explicit TV shows or art exhibitions?

The world being what it is, too fine an ethical filter could quickly screen out almost every large company and many small ones.

I tend to be tolerant of most vices in life, and also in investing. I am currently seeking out defense stocks. I’m eyeing at least one nuclear-power stock, and am favorably disposed toward gambling stocks. There’s no liquor stock I want to own, but if the numbers looked attractive, I’d buy one.

投資時需要慎重對待的一個問題,就是道德規范在你選擇股票時應該占多大份量。

我們是否應投資于生產武器的公司?或者投資于核動力、酒類、賭博、煙草類公司?這是有道德爭議的“五大”領域,容易激起人們最強烈的愛憎之情,也最常引發道德性投資的討論。

不過這個名單可以一直列下去。你是否應該投資于那些因污染環境而受罰的公司?那些被指控種族歧視的公司?那些不讓婦女擔任要職的公司?那些用動物進行試驗的公司?那些為直接渲染色情的電視節目出資和舉辦類似藝術展覽的公司?

現實世界就是這樣,如果用太細的道德過濾器去篩選,那么幾乎每一個大公司和許多小公司很快都得從投資的名單中篩出去。

我傾向于容忍生活中的大部分不道德行為,在投資方面也是如此。我現在正在挑選一些國防類的股票。我至少中意于一種核動力的股票,還看好博彩類的股票。我不想買酒類股,但如果價位有吸引力的話,我還是會買一種的。

Smoke-Free Zone

In my personal portfolio, the only industry I won’t invest in is tobacco. Tobacco causes disease and suffering when used as intended, whereas most of the others cause problems only when they are abused.

Client portfolios are a different matter. When you are managing other people’s money, your job is to maximize performance. We don’t have any tobacco stocks at Dorfman Investments, but I’m on the stock selection committee for a money management firm, Dreman Value Management, that has tobacco holdings.

As for performance, the 80 "socially responsible" mutual funds tracked by Morningstar Inc., the Chicago research company, returned 15 percent a year on average in the five years through October. That compares to an 18 percent return for all U. S. stock funds, and 26 percent for the Standard & Poor’s 500 Index during the same period.

At my firm, and many others, clients with their own separate accounts can specify whatever ethical restrictions they want. One of my clients doesn’t want to own weapons stocks. For her, I won’t buy stocks such as Lockheed Martin Corp., Litton Industries Inc., Cordant Technologies Inc. or Kaman Corp. But stocks of that type will be in many other clients’ portfolios.

無煙區:

在我個人的投資組合中,我唯一不碰的是煙草業。當你有意常吸煙草時,它會帶來疾病和痛苦,而其它的大多只有在濫用時才會帶來麻煩。

顧客的投資組合就是另一回事了。當你為別人理財時,你的任務就是要取得最好的業績。多爾夫曼投資公司中沒有煙草股,但我是德雷曼價值管理公司——一個理財公司——選股委員會的委員,該公司卻持有煙草股。

據芝加哥的一家調研公司——晨星股份有限公司的跟蹤調查,就業績來講,80家“對社會負責”的共同基金在直至10月份的過去5年的年平均收益是15%。與之相比,同階段美國所有的證券基金的平均收益是18%,標準普爾500指數的平均收益是26%。

在我的公司和許多其他公司中,客戶有他們自己各自的考慮,他們能明確指定他們的道德禁忌。我的一位客戶就不愿持有武器股,所以我不會為她買進諸如洛克希德·馬丁公司、利頓工業公司、考頓科技公司或卡曼公司的股票,但這類股票會出現在許多其他客戶的投資組合中。

Weapons of Defense

The question of whether military force can be used ethically is one of the oldest and most difficult in history. To me, Hitler and World War II are sufficient proof that maintaining a strong U. S. Military force is a moral act.

[11] Some of my best friends disagree. To them, the ends do not justify the means. I asked one friend, who is a Quaker, what the U. S. should have done about Hitler. His response: "I don’t know. But I believe we should have found an alternative other than force."

[12] That is an intellectually honest position, but to me not persuasive. On the whole, I feel the world is a better place if the U.S. has rocket fuel (Cordant), defense electronics (Litton), and Seasprite naval helicopters (Kaman), than if we don’t.

文章標簽:
    英語閱讀,英語美文,英語學習,電視節目
相關推薦

版權聲明:

1、本文系會員投稿或轉載自網絡,版權歸原作者所有,旨在傳遞信息,不代表看本站的觀點和立場;

2、本站僅提供信息展示,不承擔相關法律責任;

3、若侵犯您的版權或隱私,請聯系本站管理員刪除。

字典 詞典 成語 古詩 造句 英語
主站蜘蛛池模板: 国内精品久久久久久久影视麻豆 | 波多野结衣在线播放视频 | 欧美在线bdsm调教一区 | 国产精品亚洲精品爽爽 | 久草在线资源 | 国产一级片免费看 | 免费看一区二区三区 | 成人精品一区二区三区中文字幕 | 久久久精品一区二区三区 | 久久男人的天堂 | 国产一区二区三区欧美精品 | 一区二区三区视频 | 亚洲欧美日本在线 | 午夜性刺激免费视频观看不卡专区 | 波多野结衣视频在线观看 | 中文字幕一级毛片视频 | 亚洲高清二区 | 国产日韩欧美久久久 | 国产欧美日韩在线观看 | 天天看夜夜看 | 亚洲欧美日韩在线不卡中文 | 三级精品 | 免费永久观看美女视频网站网址 | 免费一级a毛片免费观看欧美大片 | 免费看成人毛片日本久久 | 中文字幕精品一区二区2021年 | 国产亚洲精品自在久久77 | 成人午夜免费视频毛片 | 一区二区三区久久精品 | 91久久精品国产91久久性色也 | 国产老头与老太hd | 亚洲免费美女视频 | 国产成人精品亚洲2020 | www.av在线免费观看 | 91国内在线| 久久久欧美综合久久久久 | 大陆老头xxxxxhd | 久久网视频 | 久久久免费的精品 | 欧美成亚洲 | 国产成人精品久久一区二区三区 |