Should Gays Invest in Companies That Discriminate?

Joshua Kennon, About.com Guide to Investing for Beginners, answers questions gay men have about investing and saving money.

I asked: Should gay men invest in companies that discriminate?

Joshua said: So much of this question is personal. I’m pragmatic in almost everything I do so if I were running a foundation dedicated to preserving the rainforest, and Exxon-Mobile stock was the most attractive investment out there, I’d buy the shares then use the dividends and capital gains to fund the preservation goals of my charity. That’s just how I’m built.

A little more than a decade ago, there was a relatively large, publicly traded restaurant that was embroiled in a controversy after management reportedly fired everyone who was suspected of being homosexual, down to waiters at the local level. The stock was decimated and looked like a tremendous bargain. I’m not sure how someone would feel investing in it. Me? I’d enjoy the poetic justice of making a huge profit and then donating it to a gay political activist group, but then again, that sort of irony amuses me. If you had sufficient funds, you could just buy enough shares to fire the idiots that put that policy in place. (A group of institutional investors effectively fired the Board of Directors so they were punished for the behavior.)

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