"I bought some BP stock recently because I liked the odds that the top engineers and scientists in the solar system, with unlimited funding, presumably somewhat freed from management meddling, could plug a hole...I also assumed that the liberal media's coverage of the oil damage would depress the stock more than necessary. It's a catastrophe, no doubt, but even catastrophes have levels. I'm betting the financial damage will be very, very, very bad and not very, very, very, very bad.
This is also a test of my theory that you should buy stocks in the companies that you hate the most. In general, you hate the companies that have the most power. And BP is the frickin' Death Star of companies. They're in the process of destroying an entire region of the world and there's still no talk of cutting their next dividend. I admire them in the same way I admire the work ethic of serial killers. There's an undeniable awesomeness about BP. I hate BP, but I still want to have their baby." -Scott Adams, The Scott Adams Blog.
I'm not quite sure how I feel about this world view. Sure, it makes sense from an economic stand point and I have nothing against capitalistic investment but there's a part of me that finds the whole thing just a bit too distasteful. I too admire the work ethic of serial killers but I'm not going to invest in and encourage their success killing people. Ethics matter in a civilized society, or at least they should.
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Friday, May 28, 2010
Something Someone Else Said
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3 comments:
My college roommate Matt - who still owes you a beer - is always blathering on about the Black Swan Theory. I'm not sure that this totally qualifies, but it's similar. I hadn't considered buying into BP (I'm sure I already own tiny little chunks thru mutual funds), but maybe I should.
Interesting idea about investing in companies you hate. You could say I'm currently doing that with my career to some lesser extent. I don't hate my client, but I definitely prefer shopping at Ace Hardware as opposed to Home Depot; if you know what I mean.
I feel terrible about this JBW. I own Exxon stock. I was excited that BP would end up in ruins and have to sell platforms and wells and stuff at cheap prices to Exxon so my stock would go up.
As a pinko socialist I feel guilty enough about making profits. Now this. Damn!
You're a shrewd investor, T101: evil pays the biggest dividends. I actually did look into this but most financial advisers don't seem very confident about BP at the moment either way.
one L, please tell Matt that I will not allow another discussion about Black Swan Theory on this blog unless he comes here and conducts it himself (or buys me a beer).
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