New forum member DTC wanted some comment on ethical investing, so time to wake up this thread.Originally Posted by Arthur
I think Arthur sums it up well, and ethics are multidimensional. For example, wouldn't investing in the first NZX listed company to have everyone on their payroll earning the living wage be a good thing to do? Well that company was Sky City Entertainment, our locally listed Casino operator.
I am an SKC shareholder from way back. I have stayed at their hotels but never gambled at their casinos. Last time I stayed there though, I decided to walk around the Auckland gaming floor to take a look. I became a 'person of interest' to security because I wasn't gambling! Didn't get thrown out or anything, just spoken to, but I think they thought I could be involved in some sophisticated scam. It just goes to show that people are being watched there, including prospective problem gamblers. Many people are happy to have a pint at their local pub, oblivious to the cluster of pokies in a separate room that is very obviously unsupervised. Are these turn a blind eye pub users better than I am?
My original investment in Sky City Casinos - as it was then - was because I wanted an investment foot in the tourism sector. The appeal was that as well as being used by international tourists, it was a complex that also appealed to locals. I don't approve of 'problem gambling'. I don't approve of 'reckless driving'. But I still drive a car. An individual can choose to misuse a situation. That doesn't mean that all other people should be banned from that activity, or branded 'unethical' for taking part. Of course problem gamblers can asked to be trespassed from Sky City themselves, if they are mature enough to recognise they have an issue. This will be enforced by Sky City too.
I guess what I am saying is that when it comes to ethics, what you do will very much depend on where you are focussing your ethical glasses.
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