Now may not be the best time for this post, or is it? Market wisdom dictates to buy low, sell high. Well guess what, the market is pretty low right now and some technologies seem to have a rosy future. The Obama administration has made it clear that they will be investing heavily in alternative green energy sources, breaking our dependency on oil and dirty power generation. This opens up a great opportunity to possibly make some money, and support green initiatives that are important to you as well.
I must interject with a disclaimer, I am not a financial adviser – I am a biologist. I have found that these stocks and mutual funds work for me (both financially and ethically), but please do your research and purchase wisely, there is always risk when investing.
Case in point, my stock in Whole Foods (WFMI) is actually doing quite well given the current market conditions. Find companies that promote your values and look them up online to see if they are publicly traded, if so, you can probably buy some of their stock.
Mutual funds are usually a bit better if you are trying to target an industry or specific idea such as alternative energy, or even to get as specific as wind energy. Socially responsible funds tend to be invested in companies with high employee satisfaction ratings, living wages, and aren’t involved in the ‘vices’ such as tobacco, guns, weapons, adult industry enterprises. Environmentally responsible funds stay away from oil, mining activities, petro-chemicals, pesticide manufacturing and genetic engineering. It is always a good idea to get a prospectus just to check out the actual companies that are being invested in since the fund manager may have a different idea about what is ‘environmentally responsible’ than you.
If you are interested in reading more, check out greenchipstocks.com or if you just want the names of energy specific funds, you can get a list of mutual funds ordered by category on altenergystocks.com. Talk to your stock broker or financial advisor for more information about this expanding sector of funds and stock offerings, they may be just what you are looking for in this future looking market.