Sensible Investments

This is a little off-topic: I just got an invite to cast my proxy vote for my Fidelity mutual funds. In addition to the usual crud like blessing the board, there was an initiative to instruct the board not to invest into companies that support genocide in e.g. Darfur. While this should be a no-brainer, I was extremely surprised to see that the current board (which is seeking re-election just two lines up) is strongly suggesting to vote AGAINST such guidance (see also here). Their line of thought is that they are already barred from any direct investment into companies related to Darfur and Sudan, and that every thing else (such as investments into PetroChina Co.) is just sound investment.

I strongly object to this: the activities of the Sudanese government and their henchmen in Darfur have been determined to be genocide and crimes against humanity.I do not want to see any of my money being used for fostering these criminals or any other group that perpetrate the most heinous crimes. At this time, I am very much leaning towards moving my entire portfolio away from Fidelity to TIAA-CREF if there is no satisfactory resolution on July 15.


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