Sunday, August 16, 2009

If you have to ask, you are probably doing it wrongs

This is the actual largest headline on Sunday's OKC newspaper of record (we don't get this paper, but I saw like 40 copies walking Pluto this morning):

Oklahoma financial advisers ask: What would Jesus do?

People, I am not making this up!!

FaithShares Trust... will offer shares of exchange traded funds based on indexes that track recommendations of organizations representing Baptist, Catholic, Lutheran, Methodist and nondenominational Christian groups. The funds will include large-cap stocks, excluding those that conflict with core beliefs of the various denominations...the index designed for Baptists will invest no money in companies that produce alcohol of any kind, Phillips said. For Catholics, companies that make beer and wine are allowed, but not those that produce distilled alcohol, he said. The Methodist fund will not invest in any company that produces more than 10 percent of its revenue through alcohol production....

Stevens said it makes sense that the FaithShares concept would originate from the Bible Belt.

"We think that being from Oklahoma City gives us added credibility with the faith-based community,” Stevens said. "We’re not a giant firm trying to make money off people. We believe this stuff with our hearts.”

 "We want people to know our hearts are in the right place. This isn’t some scheme. We really are trying to do the right thing.

 Rarely have I heard a more convincing profession of religiousity than "we believe this stuff with all our hearts"!!!

And, if they really wanted to know WWJD, maybe they could try looking at the second chapter of the Gospel of John, esp verses 13-16 or so.



Paul Gowder said...

Hmm... is it possible to short an entire mutual fund?

br said...

It is definitely possible to short an entire mutual fund, Paul. I suggest you get your short order in early on this one! Buy some VICEX while you're at it.

I love how there's no mention of what types of stocks they ARE going to invest in - which is kind of important and could be any of the other 99% of NYSE securities.

"We are tithing" probably means there's going to be a 10% front load fee.