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| Tuesday, August 26, 2003 |
Unprofitable investments in sin: The MorganFunShares mutual fund will officially go kaput come the end of the year, establishing that it's not always profitable to invest in sin. The mutual fund, founded by the late Burton Morgan, made a name for itself by investing in companies that trade in vice: liquor, tobacco, and gambling. The late Morgan wagered that people would stick to these unhealthy habits, even if the economic climate took a turn for the worst. Investors, apparently, did not agree.
The lesson learned here is, of course, quite simple. If you're going to sink your cash into things unsavory, it makes more economic sense to at least get a lap dance out of it.
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