Welcome to SPN

Register and Join the most happening forum of Sikh community & intellectuals from around the world.

Sign Up Now!

Is my money evil?

Discussion in 'Interfaith Dialogues' started by Sinister, Mar 11, 2007.

Tags:
  1. Sinister

    Sinister
    Expand Collapse
    SPNer Supporter

    Joined:
    May 4, 2006
    Messages:
    907
    Likes Received:
    394
    Hello everybody!

    Finances, whether disliked or liked, are essential to survival in todays global economy.

    But where do we put the money we save? where does it go? and most importantly who does it go to?

    My questions today are on investment and the allocation of capital!

    Recently I (including many before me) have ventured into the stock market, trying to dig up half truths and rumours in search for that 'all-so-pretty', quick buck. :ice:

    I have found that investment with some companies, the ones that raise ethical questions when staring at ones portfolio are the ones that sometime are the most lucrative buys. They are the ones you are almost certain will outperform the other sectors. This poses a huge dillemma:

    I was a little vague .... so let me explain:
    I have purchased stocks in several sectors that can be labelled as ''questionable"... these include the tobacco (altria , aka phillip morris), defense (RTN, Boeing), coal (fording coal) and of course who can forget the infamous red hot oil sector (which include some small and large caps). These make up almost 35-40% of my total securities....

    Is it unethical to invest in companies like this? or should we do so with a blind eye for a larger purpose (which of course is to make :ice: "ice-cream").

    Tobacco, I understand is largely unethical (but then again....everyone knows the effects of smoking yet they continue to do so...and advertisement in North America is prohibited now as is smoking in many public places, yet these companies continue to show strong growth and earnings) to invest in gun manufacturers and defense companies also seems wrong (but someones gotta make'em).
    and coal and oil seem wrong because of all this global warming 'mumbo-jumbo' being thrown around.

    so...
    where should one put there money?
    being a cold -hearted completely ethic free investor may make you a few :ice: but it does give you a tingly feeling at the base of your spine.


    I'm sure there are people on this forum who are better investors than myslef(note better as in both gains and ethics)
    if so I would love to see a section where sikhs can discuss finances with each other.




    ----------------------------------------
    ----------------------------------------
     
  2. Loading...

    Similar Threads Forum Date
    Ashdoc's Movie Review---Money Monster Theatre, Movies & Cinema May 23, 2016
    What is view of Sikhism on lending money to someone? Questions and Answers Nov 17, 2015
    Canada The Money Merry-Go-Round Breaking News Jul 10, 2013
    Canada Killer's family gave him money for fake ID, raised cash for surgery to change fingerprints Breaking News Mar 28, 2013
    India Indian sting busts up $130-million drug and money laundering ring-Links to Canada Breaking News Jan 31, 2013

  3. Dawnnymph

    Dawnnymph
    Expand Collapse
    SPNer

    Joined:
    Apr 19, 2005
    Messages:
    17
    Likes Received:
    0
    I think money is horrible way of speniding your whole life to get just to have a freaken mansion and a hummer.:u):
     
  4. Sinister

    Sinister
    Expand Collapse
    SPNer Supporter

    Joined:
    May 4, 2006
    Messages:
    907
    Likes Received:
    394
    well Dawnnymph,

    maybe its your age speaking. So l will assume you are still young and your needs are fully provided for via your parents. But securing your imediate financial future is important for living an effective, disciplined and healthy life!

    while securing your finances one must make investments (long term and short)
    Im sure you'll come to an understanding with age.
     
  5. Archived_Member5

    Archived_Member5
    Expand Collapse
    (previously jeetijohal, account deactivated at her

    Joined:
    Mar 14, 2006
    Messages:
    388
    Likes Received:
    76
    A slavish subservience to money and wealth is harmful without doubt. Each Sikh has a duty to provide for his family financially. The primary reason for many Punjabi Sikhs living abroad is to escape poverty and gain financial security. Monetary deficiency is as much the cause of warfare and suffering at home and nationally as is an ardent desire of it. Each Sikh must be a master of his will, his mind and soul. He cannot gain liberty and freedom whilst struggling to pay utilities and living expenses. Although suffering poverty momentarily I have not the main objectors of wealth accrual and financial independence object mainly because of envy. Each human needs to fulfil the basic life essential of home, clothing and food, and ensure he has accrued sufficient funds to cover any inclement times. For many a capital nest egg, home and saloon suffices. Peer pressure ensures we maintain a certain standard of living.
     
    • Like Like x 4
  6. bgemini36

    bgemini36
    Expand Collapse
    SPNer

    Joined:
    Nov 27, 2009
    Messages:
    4
    Likes Received:
    2
    SSA! i think that money is fortunate but at the same time if you don't control your emotions over it, it can BE very harmful. If u start doing black marketing with the money or use it in any other bad way, than it can be bad. :happy:
    -Everyone should know there limits on how to use their money.
    - think twice before using money in any bad sense.
    - also use the money to help the needy or a charity
    THese skills make u a good sikh
     
  7. Taranjeet singh

    Taranjeet singh India
    Expand Collapse
    SPNer Contributor

    Joined:
    Oct 21, 2009
    Messages:
    451
    Likes Received:
    895
    Yes, I do agree with almost all that is stated above. One cannot survive without adequate finances. Excessive accumulation may not be desirable but experimenting, if one can afford, for positive returns is not prohibited. It is your money and you have all the rights to use it the way you want. If one is not directly harming the way one uses one's money, there should be nothing wrong.

    Ethics in investment game are to be seen by oneself. What is the harm in investing in the stocks of Tobacco company.? There is nothing wrong in this. Government collects enough excise duty on these kinds of Luxuries.

    I do prefer technical analysis than fundamental analysis and do invest liberally in Indian Stock markets. But I do not have portfolio approach.

    I select few blue-chips [4 or 5 at the most] when the stock price is low and sell them when the stock price moves up by 20 percent or so. This is my approach.

    Sorry, if I have missed answering the other part of your question.
     

Share This Page