If you watch enough television - especially the evening news
and shows like American Greed – it’s a wonder we can get out of bed in the morning. While the fear-based
perspective might sell advertising, this is not a complete or even accurate
picture of where we are going as a species. The nature of public companies
is changing in a fundamental way, most of it for the better.
A great example is Google. They’re working on all kinds of strange products, way outside their core of data collection from the search engine
business. Their most recent corporate announcement highlights the development of a smart contact lens for diabetics that will
monitor blood glucose levels through tears once a minute and send the
information to the patient and doctor’s mobile devices. They are even planning to add an LED light
that will flash when blood sugar hits dangerous levels. In a recent blog post
they explained why they entered this market:
"We're not going to do this alone: we plan to look for
partners who are experts in bringing products like this to market. These
partners will use our technology for a smart contact lens and develop apps that
would make the measurements available to the wearer and their doctor. We've
always said that we'd seek out projects that seem a bit speculative or strange,
and at a time when the International Diabetes Federation is declaring that the
world is "losing the battle" against diabetes, we thought this
project was worth a shot."
They have sufficient excess cash flow to fund the
research. They have the expertise. They plan to partner. They want to help people live better lives.
That’s the kind of co-operative world I want to live in and the a company I want to own.
Every investment decision we make should be in support of a
better world. The stock market is a giant voting mechanism and over time, good eventually triumphs over
greed. There’s some part of human
consciousness that recognizes cooperation and a broader view is the right way
to go on both a social as well as individual level. There is enough for all of us if we operate
from a place of faith rather than fear.
With that in mind, here is my personal list of industries I
want no part of as I try to live a consistent life:
1.
Coal-mining Companies: in every labor dispute I’m always rooting for
the miners. But in my heart, I hope the
workers are forced out of business and have to retrain. Oh, that they might find other ways to earn a
living, one that isn’t so dangerous and doesn’t pollute the air.
2.
Automobile Companies: I drive my 2005 Pontiac Vibe less than 2000
miles a year and will never buy another car if this one conks out. Three years ago we moved downtown to a
walkable neighborhood. I ride my bike to
do errands and take the bus to the airport.
3.
Weapons Manufacturers: I don’t own a gun. I’ve never touched a gun. I long for a more peaceful world.
4.
For-Profit Prison Operators: I don’t believe people should be financially
rewarded by prisons full to maximum capacity.
5.
Tobacco and Alcohol: While I have smoked the occasional cigarette and enjoy a glass of wine while I cook dinner, I do not
want to make money from the self-destructive addictions of others.
6.
Gambling Stocks:
Oh, the guilt. I hate
gambling. It makes no sense to me and it
upsets me to even walk through a casino and watch people put hundred bills down
on the tables. But MGM is one of my
biggest positions. They’re the biggest
operator on the Strip in Las Vegas and I bought it as a uniquely American
vacation destination that would benefit from the economic recovery. My
Italian mother-in-law is gaga about the place. I rationalize my ownership by telling myself
that lots of people, like her, go to Vegas for the neon lights, theme hotels, shows and fine dining.
7.
Luxury Goods:
I don’t get them. When I wear
jewelry, it’s most often plastic, purchased on Ebay. Shopping is a tedious bore and if you are going
to judge me based on what I’m wearing, good luck.
8.
Drug Companies:
I stopped going to doctors 8 years ago.
All my well-intentioned physicians wanted to do was write me prescriptions. The pills didn’t help. I had to change the underlying problems in my
life. Now I take no pills. Michele takes no pills. I wish people would rely less on
pharmaceutical intervention and listen more carefully to the messages from
their body and not wait until they are in crisis to do it.
9.
Oil Companies:
Don’t like fossil fuels. But, boy, we sure are dependent on them.
10.
Financial Service Firms and Banks: I’m still mad at my former industry for what
happened in 2008. They continue to make
way too much money. Besides, I’m a firm
believer that the internet is really going to turn this sector upside down
eventually. Micro-lending will
eat the banks for lunch in the not so distant future.
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