Forum Archive Index - July 2001

["Ben Dutton" <bendutton@sharechat.co.nz>]

An interesting question posed by John, I don't know if your reply Chris
really fully answers him.

John has asked:

Is investing in the sharemarket equivalent to gambling?

The others have said:

Investing in gambling stocks is immoral because it promotes gambling.

Now, the second statement is true if gambling is immoral.

But then, if investing in the sharemarket *is* equivalent to gambling, then
it follows that investing in the sharemarket is immoral.

So then, to the investors who will not invest in gambling stocks - do you
believe that investing in the sharemarket is a form of gambling?  If not,
then you can still say that you will not invest in gambling stocks on moral
grounds.  However, if investing in the sharemarket *is* a form of gambling
then you have no moral grounds to invest in other stocks on the sharemarket
but not in Sky City.

Let me put it this way:

If investing in the sharemarket = gambling, and gambling = immorality, then
investing in the sharemarket = immorality.

Of course, if you do not believe gambling is immoral then this whole
conversation will be irrelevant to you.

So lets not focus on whether gambling *is* immoral or not, lets instead
focus on the question: is investing in the sharemarket gambling?

Throwing the cat amongst the pigeons?  Maybe we should call in a
philosopher...;-)

Best Regards

Ben Dutton

----- Original Message -----
From: "Chris Watson" <cgwatson@zfree.co.nz>
To: "Wedde, John" <john.wedde@cit.ac.nz>; <sharechat@sharechat.co.nz>
Sent: Friday, July 27, 2001 2:03 PM
Subject: RE: Re: [sharechat] Ebet: Time for a punt? / Ethical Investing


> One-night-stands are also 'punts', but the consequences - for better or
worse - remain.
>
>
> -------------
>
> >I contributed to this thread at the beginning, before the discussion
about
> >the morality  of  various investments began,  and have followed it with
> >interest subsequently.
> >I was not going to comment on the morality aspects of investing in
gambling
> >stocks but find myself now somehow forced to do this because of the
numbers
> >of you who seem  to be against it.
> >To all of you who espouse this view I would pose the following simple
> >[rhetorical] question.
> >Are not all "investments" in shares simply  "punts"?
> >
> >Cheers,
> >John
> >
> >
> > -----Original Message-----
> > From: Chris Watson [mailto:cgwatson@zfree.co.nz]
> > Sent: Friday, 27 July 2001 13:41
> > To: Roley Rackley; sharechat@sharechat.co.nz
> > Subject: Re: Re: [sharechat] Ebet: Time for a punt? /
> >Ethical Investing
> >
> > It is a matter of choice - right and wrong choices.  Don't
> >underestimate the significance
> > of putting your money behind a company and the products it
> >delivers.  In effect,
> > you are funding whatever they produce, including all the
> >spiritual and socio-economic
> > consequences that go with the product.
> >
> > It's alot easier of course to conveniently ignore what it is
> >you're investing in
> > but then what you end up doing is bowing before Mammon (i.e.
> >the love of money),
> > and that is the root of all kinds of evil.  If you do that,
> >then you have no credibility
> > criticising anyone else who makes a fast buck out of
> >whatever - prostitution, guns,
> > germ warfare, whale culling, seal slaughtering, abortions,
> >hired killing, etc.
> >
> > Where your funds go, a part of you goes too.
> >
> > CW
> >
> > >
> > >Grant
> > >I share your views and trade accordingly
> > >Roley
> > >R O Rackley
> > >Auckland
> > >New Zealand
> > >  ----- Original Message -----
> > >  From: Grant Keymer
> > >  To: sharechat@sharechat.co.nz
> > >  Sent: Wednesday, July 25, 2001 8:43 PM
> > >  Subject: Re: Re: [sharechat] Ebet: Time for a punt? /
> >Ethical >Investing
> > >
> > >
> > >  At this point I will add my voice in support of Jerrold
> >too:
> > >
> > >  I personally don't invest in certain shares which my
> >conscience can't >handle,
> > such as cigerette, porn,
> > >  and gambling companies
> > >
> > >  For the same reason I won't hold SKC and I am also not
> >keen on CLH >(ASX) as this
> > company makes a lot of its money by collecting debts from
> >>bankrupt people.
> > >
> > >  Don't get me wrong -- I'm not saying there isn't a need
> >for the >services provided
> > by such debt collection companies.  Just that I would
> >>rather not make money leeching
> > off the backs of people who have probably >suffered enough
> >already.
> > >
> > >  Obviously by adopting this approach, I am turning my back
> >on good >profits to
> > be made, especially in the case of SKC this year.  But there
> >>are plenty of other
> > opportunities to make money in the markets, and I >would
> >rather be selective about
> > the ones I put my money into.
> > >
> > >  There has been considerable debate about Ethical
> >Investing on the >other channel.
> >
> > >  I wonder how many other ShareChatters feel the same way?
> > >  Interested to hear all points of view.
> > >
> > >  Grant Keymer
> > >  ____________
> > >
> > >
> > >
> > >
> >
>
>>--------------------------------------------------------------------------
-
> >-
> > >http://www.sharechat.co.nz/          New Zealand's home for
> >market investors
> >
>
>>--------------------------------------------------------------------------
-
> >-
> > >To remove yourself from this list, please use the form at
> > >http://www.sharechat.co.nz/forum.shtml.
> > >
> > >
> >
> >
> >
> > __________________________________________________
> > Advertise with ZFREE - to find out more click below
> > http://www.zfree.co.nz/about-us/advert.html
> >
> >
> >
>
>---------------------------------------------------------------------------
-
> > http://www.sharechat.co.nz/          New Zealand's home for
> >market investors
> >
>
>---------------------------------------------------------------------------
-
> > To remove yourself from this list, please use the form at
> > http://www.sharechat.co.nz/forum.shtml.
> >
>
>###########################################################################
> >This e-mail message has been scanned for Viruses and Content and cleared
> >For queries on e-mail scanning at CIT, email the postmaster@cit.ac.nz
>
>###########################################################################
> >
>
>###########################################################################
> >This e-mail message has been scanned for Viruses and Content and cleared
> >For queries on e-mail scanning at CIT, email the postmaster@cit.ac.nz
>
>###########################################################################
> >
> >
>
>---------------------------------------------------------------------------
-
> >http://www.sharechat.co.nz/          New Zealand's home for market
investors
>
>---------------------------------------------------------------------------
-
> >To remove yourself from this list, please use the form at
> >http://www.sharechat.co.nz/forum.shtml.
> >
> >
>
>
>
> __________________________________________________
> Advertise with ZFREE - to find out more click below
> http://www.zfree.co.nz/about-us/advert.html
>
>
> --------------------------------------------------------------------------
--
> http://www.sharechat.co.nz/          New Zealand's home for market
investors
> --------------------------------------------------------------------------
--
> To remove yourself from this list, please use the form at
> http://www.sharechat.co.nz/forum.shtml.
>


----------------------------------------------------------------------------
http://www.sharechat.co.nz/          New Zealand's home for market investors
----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/forum.shtml.