Divesting From The Prison-Industrial Complex With Ethic's Jay Lipman
from Free Money with Sloane and Ashby Hosted by Sloane Ortel
Standing by while others suffer is bad. Profiting from their exploitation is worse. And unfortunately, it’s relatively easy to do by accident. Take real estate investment as an example: investors who hold a diversified portfolio of Real Estate Investment Trusts (REITs) are likely to hold shares in GEO Group (NYSE: GEO) and CoreCivic (NYSE: CXW). GEO describes itself as a “global leader in evidence-based rehabilitation.” CoreCivic says it’s a “diversified, government-solutions company with the scale and experience needed to solve tough government challenges in cost-effective ways.” But they both do the same thing: operate prisons for profit. And they’re both members of the Russell 1000 and the S&P 400 Midcap index. Which means you might own them right now. How many other problematic companies might have snuck into your portfolio? We reached out to Jay Lipman, a co-founder of sustainable asset manager Ethic, to hear more about what’s out there and how to stay away from the worst of it. Our conversation starts at 11:43 if you’d like to jump right to it, but if you listen to the whole thing you’ll also hear about how Mario Kart almost ended Ashby’s Marriage, Goldman Sachs’ massive $3.9 billion settlement, and what we’re reading to take our minds off of the ongoing collapse of civilization.
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Standing by while others suffer is bad. Profiting from their exploitation is worse. And unfortunately, it’s relatively easy to do by accident. How can you avoid it?
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