Paul Kedrosky, one of my favourite bloggers, picked out a quote from Andy Rappaport of August Capital about social investing -- the idea that you can do good via investing in ethical funds. Andy says:
"A
lot of socially responsible funds have this idea that they’ll provide a
social return, but you’ll have to accept a below-average financial
return. I disagree. Once you give a business an opportunity to make a
below-average return, you make it more likely it will."
It kind of reminded me of one of my favourite quotations from Orson Welles, playing Harry Lime in the Third Man:
"In Italy, for thirty years under the Borgias, they had warfare, terror,
murder, and bloodshed; but they produced Michelangelo, Leonardo da
Vinci, and the Renaissance."In Switzerland they had brotherly love,
they had five hundred years of democracy and peace, and what did that produce?"The cuckoo clock."
You need friction and struggle to create genius and heroism.
It is risk versus reward ... the more you risk, the greater the rewards.
Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...
