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"Ave Maria." Hail Mary. Let's put aside the long-shot football reference..... About this fund family's flagship fund, The Ave Maria Catholic Values Fund: "The Fund practices morally responsible investing. This process is designed to avoid investments in companies believed to offer products or services or engage in practices that are contrary to core values and teachings of the Roman Catholic Church. The Catholic Advisory Board sets the criteria for screening out companies based on religious principles. In making this determination, the Catholic Advisory Board’s members are guided by the magisterium of the Roman Catholic Church and actively seek the advice and counsel of Catholic clergy. This process would, in general, avoid two major categories of companies: first, those involved in the practice of abortion, and second, companies whose policies are judged to be anti-family, such as companies that distribute pornographic material or whose policies undermine the Sacrament of Marriage."
At least all of this is straightforward, albeit selective. Roman Catholic values, though? Weapons, tobacco, liquor, nuclear, financials that are doing their best to rape the lot of us? Un-green fossil fuels? These are OK? Have these guys read any of the bishops' official statements lately? At least the founders had good intentions, I suppose. And what constitutes a threat to the sacrament of Marriage? (final phrase, above.)......... I looked at AVEDX, though. Its performance looks to be very good indeed. But you can't invest according to that statement above (which I suppose applies only to their flagship fund) and think that you can keep your hands clean.
This is our largest single holding. MDW has had it for 4+ years.
I think straightforward is what they were going for. Stuff that is inherently bad. Tobacco and liquor aren't inherently bad as they can be fine in moderation. Financials aren't all bad. Some people are swindlers and some aren't. I'd say that it's the really bad ones (Madoff) that give the rest of them a bad name. Weapons aren't inherently evil. But in the hands of evil, they certainly are. They are usually good in the hands of policemen. I'm not sure what's bad about nuclear power. I think you are right when you said straightforward.
Hey, 00BY. I'm not gonna win any arguments here. You've tactfully and understatedly (is that a word?) disagreed. We're obviously coming at this with different assumptions and therefore different priorities.
Comments
At least all of this is straightforward, albeit selective. Roman Catholic values, though? Weapons, tobacco, liquor, nuclear, financials that are doing their best to rape the lot of us? Un-green fossil fuels? These are OK? Have these guys read any of the bishops' official statements lately? At least the founders had good intentions, I suppose. And what constitutes a threat to the sacrament of Marriage? (final phrase, above.)......... I looked at AVEDX, though. Its performance looks to be very good indeed. But you can't invest according to that statement above (which I suppose applies only to their flagship fund) and think that you can keep your hands clean.
I think straightforward is what they were going for. Stuff that is inherently bad. Tobacco and liquor aren't inherently bad as they can be fine in moderation. Financials aren't all bad. Some people are swindlers and some aren't. I'd say that it's the really bad ones (Madoff) that give the rest of them a bad name. Weapons aren't inherently evil. But in the hands of evil, they certainly are. They are usually good in the hands of policemen. I'm not sure what's bad about nuclear power. I think you are right when you said straightforward.