Actor Michael Douglas in a film on "Wall Street" said "Greed is good." And some say that the current film "Wolf" on Wall Street shares that sentiment. But fortunately a group of students at Duke University felt differently when they convinced the university to invest their endowment money in socially responsible corporations, a strategy university students used years ago to oppose apartheid in South Africa.
When I started investing in mutual funds 40 plus years ago, I admit to being somewhat greedy, for I only bought growth funds, willing to experience downturns in the market. Since then I have shifted my investment strategy to only socially responsible funds or index funds that reflect the total stock market.
We need the public ethic demonstrated by those Duke students, a system which encourages responsible growth rather than irresponsible greed.