Saturday, January 21, 2006

Does This Make Sense to You?

Michael Feldman's What Do You Know quiz referenced this USA Today Survey that makes absolutely no sense to me. In case the link doesn't work, the survey says "More than nine in 10 investors say they would chose a financial services company with strong ethics; only 5% prefer higher returns." Surely something is missing somewhere.

I am reminded of a comment on Wall Street Week many years ago. Someone had inquired about a "socially conscious mutual fund that would return 20% annually". One of the regular panelists (Eddie Brown, I think) observed with a wry smile that he'd deal with the Devil for a 20% return. I can't imagine 1% of investors being primarily concerned about Ethics, much less 92%

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