万花筒 Kaleidoscope 2007-06-07&08, 下跪祈祷，然后投资买股票？

Well, as the DOW hovers 1 near new highs, what if I told you if you want to make the most of the market, you’d better get down on your knees and pray? You are about to meet one of the hottest fund managers around who makes all of his investment decisions based solely 2 on his religious beliefs. He is coming up in just a minute, but first we are asking money guru Dave Ramsey if that is a smart idea. We are joined by the inimitable radio talk show host, the best-selling author right now. We are simulcasting on Dave Ramsey’s radio show as we speak. Dave, good to have you.

Oh. it’s good to be back. Neil, thanks for having me.

What do you make of this? Invest in your beliefs, profit often than too.

Well, they certainly, it makes sense and I think this particular fund manager you are talking about is doing this based on Muslim beliefs (right) and the Koran and there's been a good track record with that particular fund. The folks have done it with Christian 3 beliefs as well. There’s a fund out there called the Timothy Fund (that’s right) that’s done very well. But as you know, socially responsible funds as a group have not done well. And so you’re gonna be very selective and very careful with it as you go forward and now there is no sin in being involved in the other funds. But, but you know, if you’re thoughtful about it and you watch what you’re doing, it certainly makes a lot of sense.

Let me ask you, you’re very a religious guy, you’re also a very successful businessman. And do you have to make decisions in your business career that might contradict or compromise your religious beliefs?

Well, I get that opportunity often, but I don’t make decisions that compromise my religious beliefs. So I am a Christian and if I am gonna do something that violates that faith? No, we are not gonna go that way. You know, for instance, I don’t borrow money. You know that. You and I have talked about it. That is right. So, if a decision takes me that way, then we are not going into debt. But certainly on integrity and on ethics 4 issues, I think a lot of people of faiths, of various faiths share those kinds of values.

Alright, but a lot of people shared what I remember, Dave, a great faith in Enron and believing that it was a whole new paradigm 5 and a whole new type of company. They shared the faith in what they thought was honest, upright management, only to be hoodwinked and fooled and penniless later. Well, so how do you do this? How do you do the right thing thinking you are doing the right thing?

Well in terms of picking the stocks for one of these kinds of mutual 6 funds, they’ve all got screening processes and they decide we are not gonna invest in a company that has pork involved, or that has, in the case of the Koran that has usury 7 involved, (right) where there is a bank, those kinds of things. So they go that route. Ah, in the case of something like the Timothy fund that I mentioned, they are very careful about issues of pornography. Is there anything being published at this publishing company that we are buying stock in that would qualifies pornography? And they look at those kinds of things. Hey, you know, treating people right, doing the right, then, it turns out that’s a good business plan.

Alright. Real quickly......People are getting giddy about these markets again. A lot of them are investing on margin 8, borrowing money, so as to make money. What do you think?

Well, that’s always been a bad plan. And we've followed them up, and we've followed them down for many decades, haven't we? (Indeed) Investing is a long track record thing. The tortoise wins the race every time I read the book.

Oh, the tortoise wins the race. Have a good chat. Alright. Dave, always good seeing you. Thank you very very much.

Thanks.