birdwatcher (birdwatcher) wrote,
birdwatcher
birdwatcher

  • Mood:
Левайн -- There’s a thing called socially responsible investing where
(1) you invest other people’s money,
(2) poorly,
(3) but it’s okay because you’re doing it not to make them money but to save the whales, er, penguins, and they like penguins, so they keep paying your fees. This is a good racket as rackets go but it turns out that people mostly don’t like penguins as much as they like money so it is sort of a limited racket. The trick if you can manage it is to appeal to people who like penguins to give you other people’s money, because people typically like penguins more than they like other people having money.
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