Keep calm and carry on, and all that.
This had escaped notice last week in all the sturm und drang caused by China's financial discombobulation.
New York (AFP) - S&P Dow Jones Indices announced Thursday a new share index to serve the increasing focus of Catholics on socially responsible investment.(Wouldn't it be a riot if it turned out that virtue brought rewards other than itself?)
S&P DJI said the new SP 500 Catholic Values Index is designed to follow the 2003 Socially Responsible Investment Guidelines from the US Conference of Catholic Bishops, which stress responsible stewardship of economic resources, fighting poverty, human rights and adhering generally to Catholic Church ethics.
The index, which includes about 90 percent of S&P 500 companies, screens out those tied to pornography, stem cell research, weapons production, military sales and child labor, as well as other unsustainable practices.
As for me and my household, we, if we had any, would have dumped all our available lucre into a fund reflecting such an ethic yesterday morning. I know, I know, you shouldn't "try to catch a falling knife," but that fact is, most across the board sell-offs are the result of momentar panic, and will more than correct within a half year or so. Keeping and carrying is the way to play it...